<SEC-DOCUMENT>0000950142-17-001713.txt : 20170926
<SEC-HEADER>0000950142-17-001713.hdr.sgml : 20170926
<ACCEPTANCE-DATETIME>20170926160842
ACCESSION NUMBER:		0000950142-17-001713
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		74
CONFORMED PERIOD OF REPORT:	20170926
FILED AS OF DATE:		20170926
DATE AS OF CHANGE:		20170926

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:		171102217

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

	MAIL ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eh1700975_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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</font><font style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif">SECURITIES AND EXCHANGE COMMISSION</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Washington, D.C. 20549</div>

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

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">REPORT OF FOREIGN PRIVATE ISSUER<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>PURSUANT TO RULE 13A-16 OR 15D-16<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>OF THE SECURITIES EXCHANGE ACT OF 1934</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">For the month of September 2017</div>

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

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<div style="FONT-SIZE: 24pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">STAR BULK CARRIERS CORP.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Translation of registrant&#8217;s name into English)</div>

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

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

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

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

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

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

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Note</font>:&#160; Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#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>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 9pt">The information contained in this Form 6-K (including the exhibits hereto) is hereby incorporated by reference into the registrant's Registration Statements on Form F-3 (File No. 333-219381) and Registration Statement on Form S-8 (File No. 333-176922), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.</div>

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<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 3pt">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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, 2017 and 2016.</div>

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<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 3pt">CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING INFORMATION</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel values;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">the strength of world economies;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">the stability of Europe and the Euro;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">fluctuations in interest rates and foreign exchange rates;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">changes in demand in the dry bulk shipping industry, including the market for our vessels;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">changes in our operating expenses, including bunker prices, dry docking and insurance costs;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">changes in governmental rules and regulations or actions taken by regulatory authorities;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">potential liability from pending or future litigation;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify">general domestic and international political conditions;</div>
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<div style="FONT-SIZE: 10pt; COLOR: #000000; TEXT-ALIGN: left">potential disruption of shipping routes due to accidents or political events;</div>
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<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; COLOR: #000000; TEXT-ALIGN: justify">potential conflicts of interest involving our Chief Executive Officer, his family and other members of our senior management; and</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; COLOR: #000000; TEXT-ALIGN: left">&#8212;</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; COLOR: #000000; TEXT-ALIGN: justify">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 style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt"><br />
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<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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 2016, filed with the SEC on March 22, 2017.</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

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<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">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>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Date:&#160; September 26, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">(Registrant)</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: middle" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="VERTICAL-ALIGN: middle" colspan="2">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">/s/ Simos Spyrou</div>
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<td style="WIDTH: 10%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; 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; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 6%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Name:</div>
</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Simos Spyrou</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; 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; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 6%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Title:</div>
</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Co-Chief Financial Officer</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">&#160;</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt"><br />
</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">&#160;</div>

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<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">&#160;</div>

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<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Exhibit<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>No.&#160; &#160; &#160;&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 89.66%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Name</div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.34%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">99.1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 89.66%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left"><a href="eh1700975_ex9901.htm">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, 2017 and 2016.</a></div>
</td>
</tr>

<tr>
<td style="WIDTH: 9.34%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 89.66%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-TOP: 3pt"><br />
<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>&#160;</div>
</div>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>eh1700975_ex9901.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">EXHIBIT 99.1</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following is a discussion of financial condition and results of operations of Star Bulk Carriers Corp.&#160; (&#8220;Star Bulk&#8221;) for the six-month periods ended June 30, 2016 and 2017.&#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 herein. 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&#160;31, 2016 (the &#8220; 2016 Annual Report&#8221;), which was filed with the U.S. Securities and Exchange Commission (the &#8220;Commission&#8221;) on March&#160;22, 2017. Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2016 Annual Report. This discussion includes forward-looking statements which, although based on assumptions that we consider reasonable, are subject to risks and uncertainties which could cause actual events or conditions to differ materially from those currently anticipated and expressed or implied by such forward-looking statements.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Our vessels transport major bulks, which include iron ore, coal and grain, and minor bulks which include bauxite, fertilizers and steel products. We were incorporated in the Marshall Islands on December&#160;13, 2006 and on December&#160;3, 2007, we commenced operations when we took delivery of our first vessel. On July 11, 2014, we concluded the Merger with Oceanbulk, the Heron Transaction and the Pappas Transaction, which together resulted in the acquisition of 15 dry bulk carrier vessels and contracts for the construction of 26 newbuilding fuel-efficient Eco-type dry bulk vessels at shipyards in Japan and China.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of September 15, 2017, our operating fleet consisted of 71 vessels with an aggregate carrying capacity of approximately 7.5 million dwt and an average age of 8.0 years. We also have three newbuilding vessels under construction at a shipyard in China, all of which are expected to be delivered by the end of January 2018. When our newbuilding program is completed, on a fully delivered basis we expect our 74-vessel fleet to have an average age of 7.9 years and an aggregate carrying capacity of 8.1 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. 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="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our fleet also included one chartered-in vessel, the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Astakos </font>(<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">ex- Maiden Voyage</font>)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">, </font>which we sold on September 15, 2015 to a third party and chartered in under a two-year time charter. The charter, which expired in August 2017, was accounted for as operating lease.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following tables present summary information relating to our existing fleet and our newbuilding vessels as of September 15, 2017:</div>

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

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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">1</font></div>

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

<table id="zea2c14d77e9041b0ad518313ccb7cc7e" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Vessel&#160;Name</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Vessel Type</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Capacity</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(dwt.)</font></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Year&#160;Built&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">Date Delivered to </div>

<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">Star Bulk</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Goliath</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">209,537</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Gargantua</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">209,529</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">April-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Poseidon</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">209,475</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">February-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">4</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Maharaj</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">209,472</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Ariadne (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">207,812</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">March-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Virgo (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">207,810</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">March-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">7</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Libra (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">207,765</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">June-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">8</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Marisa (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">207,709</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">March-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">9</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Leviathan</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">182,511</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">10</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Peloreus</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">182,496</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">11</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Martha</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">180,274</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2010</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">12</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Pauline</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">180,274</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2008</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">13</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Pantagruel</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">180,181</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2004</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Borealis</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">179,678</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September-11</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Polaris</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">179,600</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">November-11</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">16</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Angie</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">177,931</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2007</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">October-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Big Fish</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">177,662</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2004</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">19</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Big Bang</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">174,109</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2007</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Aurora</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">171,199</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September-10</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">21</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Amami</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">98,681</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">22</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Madredeus</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">98,681</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">23</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Sirius</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">98,681</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">March-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">24</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Vega</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">98,681</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">February-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Angelina</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,981</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">26</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Gwyneth</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,790</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">27</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Kamila</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,769</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2005</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">28</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Pendulum</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,619</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">29</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Maria</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,598</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2007</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">November-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Markella</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,594</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2007</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">31</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Danai</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,574</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">32</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Georgia</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,298</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">October-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">33</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Sophia</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,269</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2007</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">34</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Mariella</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,266</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Moira</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,257</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">November-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">36</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Nina</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,224</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">37</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Renee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,221</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">38</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Nasia</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,220</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">August-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">39</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Laura</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,209</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">40</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Jennifer</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">82,209</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">April-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">41</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Helena</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">82,187</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">42</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Charis</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">81,711</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2013</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">March-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">43</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Suzanna</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">81,711</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2013</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">May-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">44</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Mercurial Virgo</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">81,545</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2013</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">45</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Iris</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">76,466</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2004</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div>&#160;</div>

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

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

<div>&#160;</div>

<table id="z781f040572f44650b799cda83fe16684" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">46</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Emily</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">76,417</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2004</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">47</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Vanessa</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">72,493</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">1999</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">November-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">48</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Idee Fixe (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">63,458</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">March-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">49</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Roberta (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">63,426</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">March-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Laura (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">63,399</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">April-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">51</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Kaley (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">63,283</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">June-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">52</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Kennadi</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">63,262</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">53</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Mackenzie</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">63,226</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">March-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">54</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Challenger</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">61,462</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2012</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">December-13</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">55</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Fighter</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">61,455</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2013</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-13</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">56</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Lutas</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">61,347</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January-16</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">57</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Honey Badger</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">61,320</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">February-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">58</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Wolverine</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">61,292</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">February-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">59</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Antares</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">61,258</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Acquarius</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">60,916</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">61</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Pisces</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">60,916</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">August-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">62</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Diva</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">56,582</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2011</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">63</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Strange Attractor</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">55,742</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2006</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">64</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Omicron</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">53,489</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2005</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">April-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">65</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Gamma</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">53,098</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2002</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">January-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">66</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Zeta</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">52,994</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2003</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">67</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Delta</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">52,434</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">January-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">68</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Theta</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">52,425</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2003</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">December-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">69</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Epsilon</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">52,402</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2001</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">70</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Cosmo</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">52,247</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2005</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">71</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Kappa</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">52,055</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">2001</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.34%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">December-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total dwt:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">7,481,854</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 16%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 17.34%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div><br />
</div>

<div style="TEXT-ALIGN: left">
<table id="zf790faf62f8e47d88c4de35fe468cb97" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">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">&#160;</div>

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

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

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

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

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

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

<table id="z514ca7ccda52453ca7c187321d94c6a0" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 6%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-WEIGHT: bold">Vessel&#160;Name</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-WEIGHT: bold">Vessel Type</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 12%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Capacity</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(dwt.)</font></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 14%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-WEIGHT: bold">Shipyard</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 17%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Expected Delivery</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: Calibri, sans-serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;Date</font></div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1342 (tbn <font style="FONT-STYLE: italic">Star Eleni</font>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 14%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October-17</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1361 (tbn <font style="FONT-STYLE: italic">Star Magnanimus</font>) (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 14%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January-18</div>
</td>
</tr>

<tr>
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<div style="TEXT-ALIGN: right">3</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1343 (tbn <font style="FONT-STYLE: italic">Star Leo</font>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 14%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">January-18</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 6%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total dwt:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">624,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 17%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div><br />
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<div style="TEXT-ALIGN: left">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">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="TEXT-ALIGN: left">&#160;</div>

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

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

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

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

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our principal sources of funds have been equity provided by our shareholders through equity offerings, additional debt under secured credit facilities, debt securities or capital lease financings, cash flows from operations and vessel sales. Our principal uses of funds have been capital expenditures to grow our fleet, maintain the quality of our dry bulk carriers and comply with international shipping standards, environmental laws and regulations, to fund working capital requirements, interest and principal payments on outstanding indebtedness and to make dividend payments to the extent permitted by our loan agreements.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our short-term liquidity requirements include paying operating costs, funding working capital requirements, interest and principal payments on outstanding indebtedness and maintaining cash reserves against fluctuations in operating cash flows. Our primary source of short-term liquidity is cash generated from operating activities and our cash balances.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our medium- and long-term liquidity requirements are funding the equity portion of the newbuilding vessel installments, funding required payments under our vessel financings and other financing agreements and paying cash dividends when we are able to do so. Sources of funding for our medium- and long-term liquidity requirements include cash flows from operations, new debt or capital lease financing, equity issuances and vessel sales.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In March 2017, we took delivery of two Newcastlemax vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Virgo</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(ex-HN 1371)</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Ariadne</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(ex-HN 1360) which are financed under </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">bareboat charters </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">with CSSC, accounted for as a capital lease. </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Please refer to </font>&#8220;Item 4.&#160; Information on the Company &#8211; A. History and Development of the Company &#8211; Vessel Acquisitions, Newbuilding Vessels, Bareboat Charters, Dispositions and Other Significant Transactions &#8211; Bareboat Charters&#8221; under our 2016 Annual Report for a description of the bareboat charter for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Virgo</font> and to &#8220;&#8220;Item 4.&#160; Information on the Company &#8211; A. History and Development of the Company &#8211; Vessel Acquisitions, Newbuilding Vessels, Bareboat Charters, Dispositions and Other Significant Transactions &#8211; July 2014 Transactions&#8221; under our 2016 Annual Report for a description of the bareboat charter for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Ariadne</font>.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On June 23, 2017, we executed a new loan agreement with ABN AMRO Bank N.V, with an aggregate principal amount of $30.8 million, divided into two tranches. Tranche A, with a principal amount of $16.0 million, was drawn down on June 27, 2017 to partially finance the acquisition of the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Charis</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Suzanna</font>, which are two Kamsarmax vessels built in 2013 with a carrying capacity of 81,711 deadweight tons each, acquired in March and May 2017, respectively. Tranche B, with a principal amount of $14.8 million, was drawn down on July 7, 2017 to refinance all the outstanding debt under the Heron Vessels Facility and is secured by the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Angelina</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Gwyneth</font>.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of June 30, 2017, we had outstanding borrowings (including capital lease commitments and 2019 Notes) of $1,043.2 million, of which only $16.7 million is scheduled to be repaid in the next twelve months, since, as a result of the completion of the Restructuring in July 2017, all principal installments payable under the credit facilities implicated by the Restructuring that were formerly due from June 1, 2016 through June 30, 2018 were deferred to the due date of the balloon installments of each such facility. The amount due in the next twelve months includes an amount of $3.6 million we paid in August 2017 to the lenders pursuant to the Supplemental Agreements, representing 20% of the equity used for the acquisition of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Charis</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">,</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Suzanna </font>and<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic"> Diva </font>(discussed below) (the &#8220;20% Equity Prepayment Amount&#8221;). As of June 30, 2017, cash and cash equivalents increased to $226.9 million compared to $181.8 million as of December&#160;31, 2016.&#160; Legally restricted cash, due to cash collateral requirements contained in our loan agreements, was increased to $20.5 million as of June 30, 2017 (which amount includes a portion of the proceeds from the sale of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font> that subsequently was released in July 2017, when the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Diva </font>(discussed below) replaced the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font> as a pledged vessel under the DNB $120.0 million Facility), compared to $14.0 million as of December&#160;31, 2016.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July 24, 2017, we took delivery of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Diva</font>, a Supramax vessel with carrying capacity of 56,582 deadweight tons, built with high specifications at Jiangsu Hantong Ship Heavy Industry co Ltd China in 2011. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Diva </font>replaced the sold vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora </font>as a vessel pledged to secure the DNB $120.0 million Facility.</div>

<div style="MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of September 15, 2017, the total aggregate remaining payments related to the construction of our remaining three newbuilding vessels were expected to be $103.5 million, payable upon their delivery. Delivery is expected to be in October 2017 for HN 1342 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleni</font>) and in January 2018 for HN 1361 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Magnanimus</font>) and HN 1343 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Leo</font>). As of September 15, 2017, we had $252.5 million of cash on hand and we had obtained commitments for up to approximately $40.0 million of secured financing for the HN 1361, and we are at the final stage of preparation of documentation for up to approximately $60.0 million of secured financing for the remaining two newbuilding vessels.</div>

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

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For further information relating to our loan agreements and lease obligations, please see Notes 5, 6, 8 and 16 to our audited consolidated financial statements for the year ended December&#160;31, 2016 included in our 2016 Annual Report, and Notes 5, 6, 8, 14 and 16 to our unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2017, included elsewhere herein.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our credit facilities contain financial covenants and undertakings requiring us (or the borrowing entity) to maintain various ratios, including:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div>
<table id="zc93bec59b43a4b4ca666aa5bc68d5e78" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 54pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">a minimum percentage of aggregate vessel value to secured loans (the security cover ratio or &#8220;SCR&#8221;);</div>
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<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z1121236c42f24fe5bdbb0498a4d89e6f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a maximum ratio of total liabilities to market value adjusted total assets;</td>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z12f5872a670e4beca8b17d30e7a7d4cb" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 54pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum EBITDA to interest coverage ratio;</td>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="ze6830b19eb8f4e8793ff20aae9080250" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum liquidity; and</td>
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<div>
<table id="zb612e78eebce4018aa527bbbf41b23cf" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 13px; VERTICAL-ALIGN: top">
<td style="WIDTH: 54pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">a minimum market value adjusted net worth.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In July 2017, we finalized the Restructuring through the execution of all Supplemental Agreements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Supplemental Agreements impose certain restrictions on us. For a description of the Restructuring, including the covenants and limitations placed upon us under the Supplemental Agreements, see &#8220;Item 5.&#160; Operating and Financial Review and Prospects &#8211; B. Liquidity and Capital Resources &#8211; The Restructuring Transactions&#8221; under our 2016 Annual Report.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We may fund possible growth, to the extent permitted under our existing loan agreements, through our cash balances, cash flows from operations, additional debt or capital lease financings, equity issuances, or vessel sales.&#160; Our practice has been to acquire dry bulk carriers using a combination of funds received from our 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 conditions in dry bulk market deteriorate, we may not be able to obtain new borrowing capacity on favorable terms or at all.&#160; Furthermore, our stock price and the stock prices of shipping companies in general have been volatile, and if adverse market conditions prevail, we may not be able to raise additional equity financing.&#160; Our business is capital intensive, and our 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>

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

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

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<div><br />
</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Please refer to Note 16 to our unaudited interim condensed consolidated financial statements, included elsewhere herein, for developments that took place after June 30, 2017.</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of September 15, 2017, we had 41 of our vessels employed in the spot market, under time charter agreements of short duration or voyage agreements, and 30 vessels on medium- to long-term time charters, scheduled to expire from September&#160;2017 to July 2018.&#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) and port and canal charges. Under voyage charters, we pay voyage expenses. 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 third-party ship 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>

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

<table id="z3c53c801b39240b0af7362d6f45dc960" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six-month period ended June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(TCE rates expressed in U.S. Dollars)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2017</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Average number of vessels (1)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">70.9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">68.4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Number of vessels (2)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">70</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">70</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Average age of operational fleet (in years) (3)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Ownership days (4)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,896</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,384</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Available days (5)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,438</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,456</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fleet utilization (6)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">95.1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">99.1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Daily Time Charter Equivalent Rate (7)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,971</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,977</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>
<div style="MARGIN-BOTTOM: 2.4pt"><br />
</div>

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

<div style="MARGIN-BOTTOM: 2.4pt; TEXT-ALIGN: justify">
<table id="z7347a9025a144436869a27bcf0351170" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Average number of vessels is the number of vessels that constituted our operating fleet 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="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="z7a4b600bf75244c2bf8ed1f1c7ac4d23" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">As of the last day of the periods reported.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="ze5c40f24013c4c37abb5894dc8e51767" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Average age of operational fleet is calculated as of the end of each period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="z41ce43da5f664edc83aac7b301cd2ecd" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Ownership days are the total calendar days each vessel in the fleet was owned by us for the relevant period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="zfe2b98d725f74857b8f6e8776fbea2dd" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Available days for the fleet are the ownership 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="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="zbe1e022b8db6424baa0dbfb31215d28f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Fleet utilization is calculated by dividing available days by ownership days plus charter-in days for the relevant period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
<table id="zf4ba8c0737eb4027bc37f4051f91610e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">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 available 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="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">&#160;</div>

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

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

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following table reflects the calculation of our TCE rates and reconciliation of TCE revenue to voyage revenue as reflected in the unaudited interim condensed consolidated statement of operations:</div>

<table id="z381b1bcdbb9a4865993cabde48cbc369" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six-month period ended June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">(In thousands of U.S. Dollars, except as otherwise stated)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2017</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Voyage revenues</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">98,862</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">143,471</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Voyage expenses</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(37,284</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(31,649</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

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

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Amortization of fair value of below/above market acquired time charter agreements</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">254</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Time charter equivalent revenues</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">61,832</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">111,822</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fleet available days</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,438</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,456</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Daily time charter equivalent (TCE) rate (in U.S. Dollars)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">4,971</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8,977</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

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

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Voyage revenues are driven primarily by the number of vessels in our fleet, the duration of our charters, the amount of daily charter hire and the level of freight rates that our vessels earn under time or voyage charters, which, in turn, are affected by a number of factors, including our decisions relating to vessel acquisitions and disposals, the amount of time that we spend positioning our vessels, the amount of time that our vessels spend in dry dock undergoing repairs, maintenance and upgrade work, the age, condition and specifications of our vessels, levels of supply and demand in the seaborne transportation market.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Vessels operating on time charters for a certain period of time provide more predictable cash flows over that period of time but can yield lower profit margins than vessels operating in the spot charter market during periods characterized by favorable market conditions. Vessels operating in the spot 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.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Voyage expenses include port and canal charges, agency fees, fuel (bunker) expenses and brokerage commissions payable to related and third parties.</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-TOP: 3pt; BACKGROUND-COLOR: #ffffff">Charter-in Hire Expenses<br />
</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Expenses related to the chartered-in vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage and included within &#8220;Voyage Expenses,&#8221; except for the hire expense for chartering-in of a vessel, which is included within &#8220;Charter-in hire expense&#8221; in the consolidated statement of operations.<br />
</div>

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

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

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the cost of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees, lubricants and other miscellaneous expenses. Other factors beyond our control, some of which may affect the shipping industry in general, including for instance, developments relating to market prices for crew wages, lubricants and insurance, may also cause these expenses to increase.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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 under dry-dock.&#160; We utilize the direct expense method, under which we expense all dry docking costs as incurred.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We depreciate our vessels on a straight-line basis over their estimated useful lives, which is 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="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Management Fees</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Management fees include fees paid to a third party providing certain procurement services to our fleet.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We incur general and administrative expenses, including our onshore personnel related expenses, directors and executives&#8217; compensation, legal, consulting and accounting expenses.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">We incur interest expense and financing costs in connection with vessel-specific debt (including capital leases) and the 2019 Notes. We present financing fees and expenses incurred in connection with our debt instruments as a direct deduction from the carrying amount of the relevant debt liability and amortize them to interest and financing costs over the term of the underlying obligation using the effective interest method.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">&#160;</div>

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

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

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Gain/(Loss) on Derivative Financial Instruments and Forward Freight Agreements</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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, with changes in such fair value recognized in earnings under (gain)/loss on derivative financial instruments, unless specific hedge accounting criteria are met.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, from time to time, we may take positions in freight derivatives in the ordinary course of business, 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. Upon the settlement, if the contracted charter rate is less than the average of the rates, as reported by an identified index, for the specified route and time period, the seller of the FFA is required to pay the buyer an amount equal to the difference between the contracted rate and the settlement rate, multiplied by the number of days in the specified period. Conversely, if the contracted rate is greater than the settlement rate, the buyer is required to pay the seller the settlement sum. All of our FFAs are settled on a daily basis through creditworthy exchanges, such as London Clearing House (LCH) or Singapore Exchange (SGX). Customary requirements for trading in the FFAs include the maintenance of initial and variation margins based on the expected volatility, the magnitude of the open position and the mark-to-market value of the contracts. Freight options are treated as assets/liabilities until they are settled. Any settlements by us or settlements to us under FFAs are recorded in earnings under (gain)/loss on forward freight agreements.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We earn interest income on our cash deposits with our lenders.</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Results of Operations</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">The six-month period ended June 30, 2017 compared to the six-month period ended June 30, 2016<br />
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Voyage Revenues </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">net of Voyage </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Expenses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; BACKGROUND-COLOR: #ffffff">:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> For the six-month period ended June 30, 2017, total net voyage revenues were $111.8 million, compared to $61.6 million for the six-month period ended June 30, 2016. This increase was primarily driven by the increase in freight rates during the corresponding periods, which led us to record a TCE rate of $8,977 during the six-month period ended June 30, 2017 compared to a TCE rate of $4,971 for the same period in 2016, representing an 81% increase.</font><br />
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Vessel Operating Expenses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">:</font> For the six-month periods ended June 30, 2017 and 2016, vessel operating expenses totaled $49.6 million and $49.4 million, respectively. Vessel operating expenses for the respective periods include one-time pre-delivery and pre-joining expenses of $1.1 million and $1.7 million, respectively, which we incurred in connection with the delivery of the new vessels in our fleet during each period. Excluding these amounts, our average daily operating expenses per vessel for the relevant periods of 2017 and 2016 were $3,914 and $3,692, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Dry </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Docking Expenses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">:</font> Dry docking expenses for the six-month periods ended June 30, 2017 and 2016 were $3.2 million and $1.6 million, respectively. During the six-month period ended June 30, 2017, four vessels underwent their periodic dry docking surveys, three of which were completed during this period. During the six-month period ended June 30, 2016, three vessels completed their respective dry docking surveys, two of which started in December 2015.</div>

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

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">General and Administrative Expenses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">:</font> General and administrative expenses for the six-month periods ended June 30, 2017 and 2016 were $17.3 million and $13.3 million, respectively. These expenses for the six-month period ended June 30, 2017 include stock based compensation expense of $6.4 million and legal fees of $0.7 million, incurred in connection with the Restructuring. During the six-month period ended June 30, 2016, general and administrative expenses included stock based compensation expense of $2.3 million and professional advisory services of $0.3 million that were not part of our ordinary course of business. Excluding the above mentioned stock based compensation expense and one-time expenses, our average daily net cash general and administrative expenses per vessel (including all management fees) for the six-month periods ended June 30, 2017 and 2016, remained constant at $1,125 and $1,128, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Impairment Loss</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">:</font> During the six-month period ended June 30, 2017 no impairment loss was recognized. During the six-month period ended June 30, 2016, we recorded an aggregate impairment loss of $6.7 million, in connection with the sale of one of our operating vessels, and the termination of two newbuilding contracts during the first quarter of 2016.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Other </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Operational Gain:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> During the six-month period ended June 30, 2017, we recognized other operational gain of $2.5 million, mainly resulting from the settlement proceeds of a commercial dispute.</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Interest and Finance Costs</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; BACKGROUND-COLOR: #ffffff">:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> Interest and finance costs for the six-month periods ended June 30, 2017 and 2016 were $23.8 million and $19.7 million, respectively. The increase is attributable to: (i) the increase in LIBOR between the corresponding periods, (ii) the increase in the weighted average balance of our outstanding indebtedness to $1,007.5 million during the six-month period ended June </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">30, 2017 compared to $985.0 million for the same period in 2016, and (iii) the decrease of interest capitalized from general debt in connection with the payments made for our newbuilding vessels, which is recognized as credit in the interest and finance costs</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">to $1.3 million from $2.6 million, respectively.</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Gain/(Loss) on derivative financial instruments: </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">During the six-month period ended June 30, 2017, we recorded a gain on derivative financial instruments of $0.1 million, while during the six-month period ended June 30, 2016, we recorded a loss on derivative financial instruments of $4.7 million</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, in each case, in connection with our interest rate swaps that did not qualify for hedge accounting. The reversal of the aforementioned loss is attributable to the increased LIBOR.</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Loss on debt extinguishment</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; BACKGROUND-COLOR: #ffffff">:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#160; During the six-month period ended June 30, 2017, we recorded $0.4 million loss on debt extinguishment representing the non-cash write-off of unamortized deferred finance charges in connection with the cancellation of a previous loan commitment. During the six-month period ended June 30, 2016, we recorded $1.8 million loss on debt extinguishment in connection with the mandatory prepayment of outstanding amounts under several loans following the sale of the corresponding mortgaged vessels and the cancellation of certain committed loan amounts resulting from (i) the sale of certain newbuilding vessels upon their delivery from the shipyards and (ii) the termination of two newbuilding contracts.</font><br />
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Cash Flows</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Net cash provided by/(used in) operating activities<br />
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<div style="BACKGROUND-COLOR: #ffffff">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 36pt">Net cash provided by operating activities for the six-month period ended June 30, 2017 was $ 20.3 million whereas net cash used in operating activities for the corresponding period in 2016 was $36.0 million.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">The positive change is due to: (i) the general positive growth across the majority of our operational metrics as described above, which is reflected in the positive EBITDA (adjusted for non-cash items) of $43.8 million for the six-month period ended June 30, 2017 compared to negative EBITDA (adjusted for non-cash items) of $5.7 million for the corresponding period in 2016, and (ii) a working capital outflow of $1.5 million during the six-month period ended June 30, 2017 compared to $9.6 million working capital outflow for the six-month period ended June 30, 2016. The increase was partially offset by higher interest expense </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">for the six-month period ended June 30, 2017 compared to the same period in 2016.</font></div>

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

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Net cash used in investing activities<br />
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 45pt">Net cash used in investing activities for the six-month periods ended June 30, 2017 and 2016 was $115.8 million and $24.6 million, respectively.<br />
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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">For the six-month period ended June 30, 2017, net cash used in investing activities consisted of:</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$116.7 million paid for advances and other capitalized expenses for our newbuilding and newly delivered vessels; and</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">&#160;</div>

<div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">a net increase of $6.8 million in restricted cash, as required under our loan agreements and sale proceeds received&#160; for Star Eleonora (subsequently released, as described above);</div>
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<div style="MARGIN-BOTTOM: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">offset partially by:</div>

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<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$7.7 million of proceeds from the sale of Star Eleonora.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 27pt">For the six-month period ended June 30, 2016, net cash used in investing activities consisted of:</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$388.7 million paid for advances and other capitalized expenses for our newbuilding and newly delivered vessels;</div>
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<div style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">offset partially by:</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$142.6 million of proceeds from the sale of vessels;</div>
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<div>&#160;</div>

<div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$220.3 million of proceeds from the sale of certain newbuilding vessels, which were sold upon their delivery from the shipyard;</div>
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<div>&#160;</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$1.1 million of hull and machinery insurance proceeds; and</div>
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<div>&#160;</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">a net decrease of $0.1 million in restricted cash required under our loan agreements.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">&#160;</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

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

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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">12</font></div>

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</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net cash provided by/(used in) financing activities</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 45pt">Net cash provided by financing activities for the six-month period ended June 30, 2017 was $140.6 million, whereas net cash used in financing activities for the corresponding period in 2016 was $7.0 million.<br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">For the six-month period ended June 30, 2017, net cash provided by financing activities consisted of:</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">
<div>
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<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$79.9 million increase in capital lease obligations, relating to two delivered newbuilding vessels, under bareboat charters;</div>
</td>
</tr>
</table>
</div>

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

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; BACKGROUND-COLOR: #ffffff">
<div>
<table id="zd42390e9915c4994b2827dd8817def65" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$16.0 million of proceeds drawn under the loan facility for the financing of Star Charis and Star Suzanna, which were delivered during the period; and</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 5.52pt; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">&#160;</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">
<div>
<table id="zead0189dada143acb4c28d556c1d8805" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$50.6 million of proceeds from a private placement of our common shares, which was completed in February 2017, which is net of aggregate private placement agent&#8217;s fees and expenses of $0.9 million;</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; BACKGROUND-COLOR: #ffffff">
<div>&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 27pt">offset partially by:</div>
</div>
</div>
</div>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div>
<table id="z339ae61a94944b3d8e0873e8f8300e37" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left">$5.2 million paid in the aggregate in connection with the capital lease installments and the partial prepayment of a loan facility due to the sale of Star Eleonora; and</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<table id="z64b6a57ca4ec4ddfa4f3bdc07b37ee43" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left">$0.7 million of financing fees paid in connection with the Restructuring.</div>
</td>
</tr>
</table>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">For the six-month period ended June 30, 2016, net cash used in financing activities consisted of:</div>

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

<div>
<table id="z745ac80c28524b8bb352be669040b953" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">an aggregate of $65.4 million of proceeds from loan facilities for the financing of delivery installments for four of our newbuilding vessels delivered during the corresponding period; and</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left">&#160;</div>

<div>
<table id="z07f597734ac2473184ccce6cc72dcc77" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">an $86.4 million increase in capital lease obligations, relating to two delivered newbuilding vessels under bareboat charters;</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">offset partially by:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 27pt">&#160;</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div>
<table id="zff421b50cacf451398d0cc3e16c7c3f0" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left">$158.7 million paid in the aggregate in connection with the regular amortization of outstanding vessel financings, capital lease installments and mandatory prepayment of several loan facilities due to the sale of corresponding mortgaged vessels.</div>
</td>
</tr>
</table>
</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">There have been no material changes to our significant accounting policies since December&#160;31, 2016.&#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 2016 Annual Report and Note 2 to the unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2017, included elsewhere herein.</div>

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

<div style="MARGIN-BOTTOM: 12pt">
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<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always; TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-FAMILY: 'Times New Roman', Times, serif">13</font>

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

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

<table id="z1216b51e1dab40e19799e9e694c952fe" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Consolidated Balance Sheets as of December 31, 2016 and June 30, 2017 (unaudited)</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-2</div>
</td>
</tr>

<tr>
<td style="WIDTH: 87.93%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Unaudited Interim Condensed Consolidated Statements of Operations for the six-month periods ended June 30, 2016 and 2017</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-3</div>
</td>
</tr>

<tr style="HEIGHT: 7px">
<td style="WIDTH: 87.93%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Unaudited Interim Condensed Consolidated Statements of Comprehensive Income/(Loss) for the six-month periods ended June 30, 2016 and 2017</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-4</div>
</td>
</tr>

<tr>
<td style="WIDTH: 87.93%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Unaudited Interim Condensed Consolidated Statement of Stockholders&#8217; Equity for the six-month periods ended June 30, 2016 and 2017</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-5</div>
</td>
</tr>

<tr>
<td style="WIDTH: 87.93%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Unaudited Interim Condensed Consolidated Statements of Cash Flows for the six-month periods ended June 30, 2016 and 2017</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-6</div>
</td>
</tr>

<tr>
<td style="WIDTH: 87.93%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 52.55pt">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>
</td>
<td style="WIDTH: 12.07%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-7</div>
</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt"><br />
&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-1</font></div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Consolidated Balance Sheets</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">As of December 31, 2016 and June 30, 2017 (unaudited)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div style="TEXT-ALIGN: left">
<table id="z622f9036a5a94cf6b37981a127dda91d" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">CURRENT ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Cash and cash equivalents</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">181,758</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">226,882</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Restricted cash, current (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">5,121</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">12,120</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Trade accounts receivable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">12,572</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">20,415</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Inventories (Note 4)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">14,534</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">14,158</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due from managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,430</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due from related parties (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">922</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">228</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Prepaid expenses and other receivables</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">5,641</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">4,022</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Derivative asset, current</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">41</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Other current assets (Note 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,447</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">5,857</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Current Assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">228,466</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">283,682</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">FIXED ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Advances for vessels under construction and acquisition of vessels (Notes 5 and 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">64,570</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">46,472</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Vessels and other fixed assets, net (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,707,209</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,796,943</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Fixed Assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,771,779</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,843,415</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">OTHER NON-CURRENT ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Long term investment (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">970</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">974</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Restricted cash, non-current (Note 8 )</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">8,883</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">8,420</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">TOTAL ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,011,702</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,136,491</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">LIABILITIES &amp; STOCKHOLDERS' EQUITY</div>
</td>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">CURRENT LIABILITIES</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Current portion of long term debt (Note 8)</div>
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<div style="COLOR: #000000">$</div>
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<div style="COLOR: #000000">-</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">7,532</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Lease commitments short term (Notes 5 and 8)</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">6,235</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">9,120</div>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accounts payable</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">5,200</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">5,886</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due to managers</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">4,320</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due to related parties (Note 3)</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">356</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">334</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accrued liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">11,719</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">9,836</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Derivative liability, current (Note 15)</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">2,549</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">2,184</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Deferred revenue</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2,060</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,863</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Current Liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">28,119</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">41,075</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">NON-CURRENT LIABILITIES</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">8.00% 2019 Notes, net of unamortized deferred finance fees of $1,243 and $1,028, respectively (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">48,757</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">48,972</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Long term debt, net of current portion and unamortized deferred finance fees of $9,214 and $8,263, respectively (Note 8)</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">743,719</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">751,898</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Lease commitments long term, net of unamortized deferred finance fees of $39 and $37, respectively (Notes 5 and 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">152,613</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">225,716</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Derivative liability, non current (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">796</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">20</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Other non-current liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">468</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">460</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">TOTAL LIABILITIES</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">974,472</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,068,141</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">COMMITMENTS &amp; CONTINGENCIES (Note 14)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">STOCKHOLDERS' EQUITY</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2016 and June 30, 2017 (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Common Stock, $0.01 par value, 300,000,000 shares authorized; 56,628,907 and 63,415,479 shares issued and outstanding at December 31, 2016 and June 30, 2017, respectively (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">566</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">634</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Additional paid in capital</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2,063,490</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2,120,336</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accumulated other comprehensive income/(loss) (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(294</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">141</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accumulated deficit</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(1,026,532</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(1,052,761</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Stockholders' Equity</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,037,230</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,068,350</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,011,702</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,136,491</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<div style="COLOR: #000000; TEXT-ALIGN: left">&#160;</div>

<div style="COLOR: #000000; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>
</div>

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

<div><br />
</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of Operations</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2016 and 2017</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">
<table id="z480e3727ea504a79ab5e8ff5fba673f4" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six months ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Revenues:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Voyage revenues</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">98,862</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">143,471</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">98,953</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">143,471</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Voyage expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">37,284</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">31,649</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Charter-in hire expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,918</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,736</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Vessel operating expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">49,364</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">49,560</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Dry docking expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,583</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">3,248</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Depreciation</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">40,847</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">40,387</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Management fees (Note 10)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">3,911</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">3,689</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">General and administrative expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">13,298</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">17,316</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Impairment loss (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,694</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Other operational loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">109</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">751</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Other operational gain</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(50</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(2,461</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">(Gain)/ Loss on forward freight agreements (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(283</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">541</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">(Gain)/ Loss&#160; on sale of vessels ( Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">21</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">370</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">154,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">146,786</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(55,743</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(3,315</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Other Income/ (Expenses):</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Interest and finance costs (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(19,694</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(23,766</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Interest and other income/(loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">154</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,223</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Gain / (Loss) on derivative financial instrument, net (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(4,681</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">100</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(1,801</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(358</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total other expenses, net</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(26,022</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(22,801</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Income/(Loss) before equity in income of investee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(81,765</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(26,116</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Equity in income of investee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">69</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">4</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Income / (loss) before taxes</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(26,112</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">US Source Income taxes</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(117</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income/(loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(26,229</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Earnings / (Loss) per share, basic</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(1.86</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(0.42</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Earnings / (Loss) per share, diluted</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(1.86</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(0.42</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Weighted average number of shares outstanding, basic (Note 12)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">43,880,713</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">62,188,645</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Weighted average number of shares outstanding, diluted&#160; (Note 12)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">43,880,713</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">62,188,645</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="8">
<div style="COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

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

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

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of Comprehensive Income / (Loss)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2016 and 2017</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt"><br />
</div>

<div style="MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt">
<table id="ze6f9fc3d15ec45588a8b8e3c3ac2d463" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six months ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(26,229</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Other comprehensive income / (loss):</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left">Unrealized gains / losses from cash flow hedges:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Unrealized gain / (loss) from hedging interest rate swaps recognized in Other comprehensive income/(loss) before reclassifications</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(972</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(38</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Reclassification adjustments of interest rate swap loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">709</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">473</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Other comprehensive income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; COLOR: #000000; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(263</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; COLOR: #000000; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">435</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Comprehensive income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(81,959</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(25,794</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="8">
<div style="COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<br />
</div>

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

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

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

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

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

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of Stockholders&#8217; Equity</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2016 and 2017</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

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

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

<div style="TEXT-ALIGN: justify">
<table id="z1f6ca25bef674fcc9fff37930f2844b5" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Common Stock</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

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

<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Par Value</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Additional Paid-in Capital</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Accumulated Other Comprehensive income/(loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Accumulated </div>

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

<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Stockholders' </div>

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

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">BALANCE, January 1, 2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">43,821,114</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">438</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,008,440</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(1,216</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(872,304</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">1,135,358</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Net income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Other comprehensive income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(263</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(263</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">134,545</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2,283</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">2,285</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">BALANCE, June 30, 2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">43,955,659</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">440</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,010,723</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(1,479</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
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</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(954,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">1,055,684</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">BALANCE, January 1, 2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">56,628,907</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">566</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,063,490</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(294</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(1,026,532</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">1,037,230</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Net income / (loss)</div>
</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<div style="COLOR: #000000">$</div>
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<div style="COLOR: #000000">(26,229</div>
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<div style="COLOR: #000000">)</div>
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<div style="COLOR: #000000">$</div>
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<div style="COLOR: #000000">(26,229</div>
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<div style="COLOR: #000000">)</div>
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<tr>
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<div style="COLOR: #000000; TEXT-ALIGN: left">Other comprehensive income / (loss)</div>
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<div style="COLOR: #000000">-</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">435</div>
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<div style="COLOR: #000000">-</div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">435</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13)</div>
</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">476,300</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">5</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,355</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,360</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Issuance of common stock (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">6,310,272</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">63</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">50,491</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">50,554</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">BALANCE, June 30, 2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">63,415,479</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">634</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">2,120,336</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">141</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">(1,052,761</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000">1,068,350</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 28%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="COLOR: #000000; TEXT-ALIGN: left">&#160;</div>

<div style="COLOR: #000000; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>
</div>

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

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

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

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Unaudited Interim Condensed Consolidated Statements of Cash Flows</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six-month periods ended June 30, 2016 and 2017</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</font></div>

<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="z5af6c2ee22e64004b6d171934107e303" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six month ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash Flows from Operating Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Net income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(81,696</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(26,229</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Depreciation</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">40,847</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">40,387</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Amortization of&#160; fair value of above market acquired time charters (Note 7)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">254</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Amortization of deferred finance charges (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,561</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">1,288</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,801</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">358</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Vessel impairment loss (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,694</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Loss / (gain) on sale of vessels (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">21</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">370</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Stock-based compensation (Note 13)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">2,285</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">6,360</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Non-cash effects of derivative financial instruments (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,805</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(706</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Change in fair value of forward freight derivatives (Note 15)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">41</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Other non-cash charges</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">130</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">29</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Amortization of deferred gain (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(37</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(37</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Equity in income of investee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(69</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(4</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Changes in operating assets and liabilities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">(Increase)/Decrease in:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Restricted cash for forward freight derivatives</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">216</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Trade accounts receivable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">255</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(7,843</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Inventories</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(2,267</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">376</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Prepaid expenses and other current assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">350</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">424</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due from related parties</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">537</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">748</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due from managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(3,585</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">1,430</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left">Increase/(Decrease) in:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accounts payable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(27</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">651</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due to related parties</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(7</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(22</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Accrued liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(2,705</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(1,624</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Due to managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(2,291</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">4,320</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Deferred revenue</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">172</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net cash provided by / (used in) Operating Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(35,972</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">20,336</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash Flows from Investing Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Advances for vessels under construction and acquisition of vessels and other assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(388,660</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(116,679</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Cash proceeds from vessel sales (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">362,887</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">7,656</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Decrease in restricted cash</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">7,034</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">23</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Increase in restricted cash</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(6,944</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(6,775</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net cash provided by / (used in) Investing Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(24,568</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(115,775</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash Flows from Financing Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Proceeds from bank loans and capital leases</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">151,763</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">95,936</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Loan prepayments and repayments</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(158,699</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(5,190</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Financing fees paid</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(25</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(737</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Proceeds from issuance of common stock</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">51,454</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Offering expenses paid related to the issuance of common stock</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">(900</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net cash provided by / (used in) Financing Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(6,961</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">140,563</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net&#160; (decrease) / increase in cash and cash equivalents</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">(67,501</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="COLOR: #000000">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">45,124</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash and cash equivalents at beginning of period</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">208,056</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">181,758</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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

<tr>
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<div style="FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash and cash equivalents at end of the period</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">140,555</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">226,882</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">&#160;&#160;Cash paid during the period for:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">Interest</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">23,279</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="COLOR: #000000">23,575</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
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<div style="COLOR: #000000; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>
</div>

<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Basis of Presentation and General Information:</font></div>

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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.&#160; Operating results for the six-month period ended June 30, 2017 are not necessarily indicative of the results that might be expected for the fiscal year ending December&#160;31, 2017.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Effective June 20, 2016, the Company effected a 5-for-1 reverse split of its issued and outstanding common shares. All share and per share information has been retroactively adjusted to reflect the reverse split.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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, 2016 (the &#8220;2016 Annual Report&#8221;).&#160; The balance sheet as of December 31, 2016 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="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2016 Annual Report.</div>

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Significant accounting policies and recent accounting pronouncements:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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 2016 Annual Report.&#160; There have been no changes to the Company&#8217;s significant accounting policies in the six-month period ended June 30, 2017, other than the adoption of (i) ASU <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">No. 2015-11 &#8220;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Simplifying the measurement of inventory,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#8221; (ii) ASU 2016-05 &#8220;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Derivatives and Hedging (Topic 815)&#8217;: Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#8221; (iii) ASU No 2016-07 &#8220;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Investments - Equity Method and Joint Ventures</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#8221; and (iv) ASU No 2016-09 &#8220;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#8221; each of which is discussed in Note 2 aa) to the Company&#8217;s </font>consolidated financial statements included in the 2016 Annual Report. The adoption of these updates had no material effect on the Company&#8217;s consolidated financial statements.</div>

<div style="MARGIN-BOTTOM: 12pt; 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; BACKGROUND-COLOR: #ffffff"><u>Recent Accounting pronouncements</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">:</font></div>

<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-WEIGHT: bold; FONT-STYLE: italic">Revenue from Contracts with Customers (&#8220;Topic 606&#8221;):</font> 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 each contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in each contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 clarify the following two aspects of Topic 606: (a) identifying performance obligations and (b) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606, including, (i) &#8220;Assessing the Collectability 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; (ii) &#8220;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#8221; (iii) &#8220;Noncash Consideration,&#8221; (iv) &#8220;Contract Modifications at Transition,&#8221; (v) &#8220;Completed Contracts at Transition,&#8221; and (vi) &#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. In December 2016, the FASB also issued ASU 2016-20, &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers</font>.&#8221; The amendments in the latest Update 2016-20 represent changes to make minor corrections/improvements to the codification that are not expected to have a significant effect on current accounting practice. 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. The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). ASU 2014-09 is effective for the Company January 1, 2018, and the Company expects to use the modified retrospective approach upon adoption. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company&#8217;s method of determining proportional performance might change from discharge-to-discharge to load-to-discharge. This will result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. This change will result in revenue being recognized later in the voyage, which may cause additional volatility in revenue and earnings between periods. The Company is in the process of validating aspects of ASU 2014-09, quantifying the effect that the adoption of the ASU 2014-09 will have on its financial statements and accompanying notes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">&#160;</font></div>

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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-8</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">3.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Transactions with Related Parties:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Except for the Sydelle profit sharing agreement described below, details of the Company&#8217;s transactions with related parties did not change in the six-month period ended June 30, 2017 and are discussed in Note 3 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2016, included in the 2016 Annual Report.</div>

<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-WEIGHT: bold">Sydelle profit sharing agreement: </font>In April 2017, Sydelle Marine Limited (&#8220;Sydelle&#8221;), a company controlled by members of the family of Mr. Petros Pappas, our chief executive officer, entered into an agreement (the &#8220;Agreement&#8221;) with the Company&#8217;s fully owned subsidiary Domus Shipping LLC (&#8220;Domus&#8221;), owner&#160;of the vessel&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Ariadne,</font> to operate a pool, whereby the net revenues of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Ariadne</font> and the vessel owned by Sydelle, will be equally split between the two companies. This pooling arrangement commenced in April 2017. Pursuant to the Agreement,&#160;the pool adjustment for the six-month period ended June 30, 2017 was ($159), which is recorded in &#8220;Voyage revenues&#8221; in the accompanying consolidated statements of operations. As of June 30, 2017, the Company had an outstanding payable amount of $159 in connection with the Agreement.</div>

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</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Transactions and balances with related parties are analyzed as follows:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Balance Sheet</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<table id="zf84fc2a9fd15488391971071f1bfef31" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">December 31, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold; TEXT-ALIGN: right" valign="bottom" colspan="2">June 30, 2017</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Due from related parties&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Oceanbulk Maritime S.A. and its affiliates</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">922</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">148</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Interchart Shipping Inc.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Star Ocean Manning Philipines Inc.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">80</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Due from related parties</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">922</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">228</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Due to related parties</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Combine Marine Ltd.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Oceanbulk Maritime S.A. and its affiliates</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">26</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Sydelle profit sharing agreement</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">159</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Management and Directors Fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">323</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">157</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Managed Vessels of Oceanbulk Shipping LLC</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Due to related parties</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">356</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">334</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Statements of Operations</div>

<div>&#160;</div>

<table id="zffc999f153d7469b8bfa94b6ee91b428" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six month period ended</div>

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

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Voyage expenses-Interchart</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,650</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,650</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Executive directors consultancy fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(248</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(250</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Non-executive directors compensation</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(72</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Office rent - Combine Marine Ltd.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(17</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(17</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Office rent - Alma Properties</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Sydelle profit sharing agreement</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(159</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>
</table>
</div>

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

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

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

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">4.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Inventories:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="ze0f91e6167354b01b3437d971cd3ab0f" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 60%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 8px">
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Lubricants</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">6,629</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7,358</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Bunkers</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7,905</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">6,800</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">14,534</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">14,158</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">5.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessels and other fixed assets, net:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="z2a231a4fb053400fbf57ef9573f9d25a" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 80%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">December 31, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cost</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Vessels</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">2,037,737</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">2,165,892</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Other fixed assets</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,898</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,984</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total cost</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2,039,635</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2,167,876</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Accumulated depreciation</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(332,426</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(370,933</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Vessels and other fixed assets, net</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">1,707,209</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">1,796,943</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Vessels acquired / disposed of during the six-month period ended June 30, 2016</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Delivery of newbuilding vessels:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z2add3c0e31684a258caefd0493f70129" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(i)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On January&#160;6, 2016, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Lutas</font> (ex-HN NE 197).&#160; The delivery installment of $19,770 was partially financed by $14,813 drawn down under the Sinosure Facility.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="zebe1ce0573c840c7ae20fd24ec8f4300" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(ii)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On January&#160;8, 2016, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Kennadi</font> (ex-HN 1080).&#160; The delivery installment of $21,229 was partially financed by $14,478 drawn down under the Sinosure Facility.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="zfed20a2f3e8a45a39b1bb4d0f035918d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(iii)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On February&#160;26, 2016, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Poseidon</font> (ex-HN NE 198).&#160; The delivery installment of $33,390 was partially financed by $23,400 drawn down under the DNB&#8211;SEB&#8211;CEXIM $227,500 Facility.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z9f5a4177ccc146ba9e9b93319ab46d87" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(iv)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On March&#160;2, 2016, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Mackenzie</font> (ex-HN 1081).&#160; The delivery installment of $18,221 was partially financed by $12,720 drawn down under the Sinosure Facility.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="zc23af83c7fea4cc78178be444cd9140b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">(v)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On March&#160;11, 2016 and June 6, 2016, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Marisa</font> (ex-HN 1359), and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Libra </font>(ex-HN 1372), which are each subject to a bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&#8220;CSSC&#8221;) that is accounted for in the Company&#8217;s consolidated financial statements as a capital lease, as further described in the 2016 Annual Report.</td>
</tr>
</table>
</div>

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

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">5.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessels and Other Fixed Assets, Net - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Sale of vessels:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">In late 2015, the Company entered into various separate agreements with third parties to sell four of its operating vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Indomitable</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Magnum Opus</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Tsu Ebisu</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Deep Blue</font>) and five of its newbuilding vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Behemoth</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Bruno Marks</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Jenmark</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Aries</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Taurus)</font> upon their delivery from the shipyards<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">. </font>In early 2016, the Company entered into separate agreements with third parties to sell the operating vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Obelix</font> and the newbuilding vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Megalodon</font> (ex-HN 5056) upon its delivery from the shipyard.&#160; All of the vessels mentioned above were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized an aggregate net loss on sale of $21.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">In addition, in late March&#160;2016, the Company negotiated the sale of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Michele</font>.&#160; The Memorandum of the Agreement was signed in April&#160;2016 and the vessel was delivered to its buyers in late May&#160;2016.&#160; 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>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Vessels acquired / disposed of during the six-month period ended June 30, 2017</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Delivery of newbuilding and secondhand vessels:</div>

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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(i)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">On March 1, 2017, the Company took delivery of the Newcastlemax vessel Star Virgo (ex-HN 1371), which, as further described in the 2016 Annual Report, is financed under a bareboat charter with CSSC, accounted for as a capital lease.</div>
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<div>&#160;</div>

<div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(ii)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">On March 28, 2017, the Company took delivery of the Newcastlemax vessel Star Ariadne (ex-HN 1360), which, as further described in the 2016 Annual Report, is financed under a bareboat charter accounted for as a capital lease, from CSSC.</div>
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<div>&#160;</div>

<div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(iii)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">On March 2, 2017, the Company entered into agreements to acquire two modern Kamsarmax dry bulk vessels from a third party for $15,150 each. Each of the vessels has a carrying capacity of 81,711 deadweight tons and was built with high specifications at Jiangsu New Yangzijiang in 2013. Star Charis was delivered to the Company on March 22, 2017, and Star Suzanna was delivered to the Company on May 15, 2017. On June 23, 2017, the Company executed a new loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844, $16,000 of which was drawn in order to partially finance the two vessels (Note 8).</div>
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<div>&#160;</div>

<div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">(iv)</div>
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<div style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">On June 2, 2017, the Company entered into an agreement to acquire Diva, a Supramax vessel with carrying capacity of 56,582 deadweight tons, built at Jiangsu Hantong Ship Heavy Industry co Ltd China in 2011, for a purchase price of $10,500. The vessel was delivered to the Company on July 24, 2017 (Note 16) and replaced the sold vessel Star Eleonora, as a pledged vessel under the DNB $120,000 Facility (Note 8).</div>
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</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Sale of vessels:</div>

<div style="MARGIN-BOTTOM: 12pt; 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; BACKGROUND-COLOR: #ffffff">On February 9, 2017, the Company entered into </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">an agreement with a third party to sell the vessel&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Star Eleonora&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">at market terms. The vessel was delivered to its new owner in March 2017</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, and the </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">resulting loss on sale is separately reflected in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2017.</font></div>

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

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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-11</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">5.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessels and Other Fixed Assets, net - continued:</font></div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As of June 30, 2016, the Company was party to six capital leases, for the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Idee Fixe</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Roberta</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Laura</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Kaley</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Marisa </font>and<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic"> Star Libra.</font> As of June 30, 2017, the Company was party to eight capital leases, for the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Idee Fixe</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Roberta</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Laura</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Kaley</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Marisa, Star Libra, Star Virgo </font>and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Ariadne</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 2017 was $3,016 and $5,805, 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, 2017, the net book value of the vessels under capital leases was $331,248 with accumulated depreciation of $15,298. The principal payments required to be made after June 30, 2017 for the outstanding capital lease obligations are as follows:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Twelve month periods ending</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Amount</div>
</td>
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</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">22,465</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2019</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">29,691</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,764</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2021</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,452</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2022</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,500</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2023 and thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">163,218</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total capital lease minimum payments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">313,090</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Unamortized deferred finance fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">37</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total lease commitments, net</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">313,053</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Excluding bareboat interest</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">78,217</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total lease commitments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">234,836</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Lease commitments &#8211; current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">9,120</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Lease commitments &#8211; non-current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">225,716</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">No events and circumstances were identified that would require an additional impairment since the Company&#8217;s last impairment test exercise as of December 31, 2016.</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">6.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Advances for vessels under construction and acquisition of vessels:</font></div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="z83905d22a9ce45a48f4c29805a160773" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 90%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Pre-delivery yard installments and Fair value adjustment</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,602</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">30,102</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Advances for vessels acquisitions (Note 5)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,050</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Bareboat capital leases &#8211; upfront hire &amp; handling fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">25,272</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">10,460</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Capitalized interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">4,966</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">3,590</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Other capitalized costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,730</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,270</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">64,570</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">46,472</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As of June 30, 2017, the Company had three Newcastlemax dry bulk carrier vessels on order at SWS in China (one of which is subject to a bareboat charter accounted for as a capital lease). As of June 30, 2017, the total aggregate remaining contracted price for these newbuilding vessels plus agreed additional amounts was $103,492, payable upon delivery. Delivery is expected to be in October 2017 for HN 1342 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleni</font>) and in January 2018 for HN 1361 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Magnanimus</font>) and HN 1343 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Leo</font>).</div>

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

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

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

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

<div>&#160;</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">6.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Advances for vessels under construction and acquisition of vessels - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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, 2016, included in the 2016 Annual Report, the Company as of June 30, 2017 is entitled to receive a refund of $1,604 from the shipyards, which amount is included under &#8220;Other current assets.&#8221;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">7.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fair value of Above-Market Acquired Time Charters:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As part of the Merger in July&#160;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-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Amami </font>and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Madredeus.</font> Accumulated amortization<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">&#160;</font>as of December&#160;31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December&#160;31, 2015 of $254, which was fully amortized during the six-month period ended June&#160;30, 2016 and is included under &#8220;Voyage revenues&#8221; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016.</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Long-term Debt:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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, 2016, included in the 2016 Annual Report.</div>

<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-WEIGHT: bold">ABN </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">AMRO Bank</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> N.V. $30,844 Facility:</font> On June 23, 2017, the Company executed a loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844, available in two tranches, as follows:</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="ze7e09ac865464782ba091bf35f472d29" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 63pt; VERTICAL-ALIGN: top; align: right">i.</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Tranche A, with a principal amount of $16,000, was drawn down on June 27, 2017 to partially finance the acquisition of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Charis</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Suzanna</font>, which are two Kamsarmax vessels, built in 2013, with carrying capacity of 81,711 deadweight tons each, acquired in March and May 2017, respectively (Note 5). This tranche matures in June 2022 and is repayable in 20 quarterly installments, the first four of which will be in the amount of $1,000 and the remaining 16 of which will be in the amount of $360, commencing in September 2017, and a final balloon payment of $6,240, payable together with the last installment.</td>
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<div style="TEXT-ALIGN: justify">
<table id="ze8ee3f5d97fb4a549db7ff87097e5ddb" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 63pt; VERTICAL-ALIGN: top; align: right">ii.</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Tranche B, with a principal amount of $14,844, was drawn down on July 7, 2017 to refinance all of the outstanding debt under the Heron Vessels Facility. Tranche B is secured by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Angelina</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Gwyneth</font>. This tranche matures in June 2022 and is repayable in 17 equal quarterly installments of $640, commencing in July 2018, and a final balloon payment of $3,964, payable together with the last installment.</td>
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</div>

<div style="MARGIN-BOTTOM: 12pt; 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-WEIGHT: bold">Heron </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessels Facility: </font>In July 2017, the Company refinanced the Heron Vessels Facility with Tranche B of the ABN Amro Bank N.V. $30,844 Facility discussed above.</div>

<div style="MARGIN-BOTTOM: 12pt; 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-WEIGHT: bold">DNB $120,000 Facility: </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">On July 24, 2017 the Company took delivery of the second-hand Supramax vessel </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Diva</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, which</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">&#160;</font>replaced the sold vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font>&#160;as a pledged vessel under the DNB $120,000 Facility.</div>

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

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

<div>&#160;</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>

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

<div style="MARGIN-BOTTOM: 12pt; 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; BACKGROUND-COLOR: #ffffff">Pursuant to the Restructuring, as described in </font>Note 8 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2016<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, the Company agreed with all of its lenders at the time to, among others things, defer principal payments owed from June 1, 2016 through June 30, 2018 (the &#8220;Deferred Amounts&#8221;) to the due date of the balloon installments of each facility. </font>In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental Agreements. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">As a result, no principal payments are required to be made until June 30, 2018, for the applicable loan agreements which are part of the Restructuring. The current portion of long term debt as of June 30, 2017, includes </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(i) the </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">installments to be repaid </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">during the next 12 months under </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">Tranche A of the </font>ABN Amro Bank N.V. $30,844 Facility<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, which was not part of the Restructuring</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, and </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">(ii) </font>an amount of $3,635 that the Company paid in August 2017 to all parties under the Restructuring in accordance with the terms of the Supplemental Agreements, representing 20% of the equity used for the acquisition of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Charis</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Suzanna </font>and<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic"> Diva </font>(discussed in Note 5)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">&#160;</font>(the &#8220;20% Equity Prepayment Amount&#8221;).</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The Company&#8217;s credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div>
<table id="z7484e6cf6a534d3088c2e230295cbfe4" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
<td style="FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&#8212;</div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: left">a minimum percentage of aggregate vessel value to secured loans (the security cover ratio or &#8220;SCR&#8221;);</div>
</td>
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<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="zaf4945847bf743ffbd8601e4551e2cdd" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a maximum ratio of total liabilities to market value adjusted total assets;</td>
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</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z4f5214c7242c458f934459d2f6864f9c" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum EBITDA to interest coverage ratio;</td>
</tr>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z676d37331ad743a5850002d8ca7c0b88" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum liquidity; and</td>
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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="zf7ceeb70d2d04f15bc798a565f8c88e9" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">market value adjusted net worth</font>.</td>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">In addition, the Supplemental Agreements impose certain restrictions on the Company and specify a quarterly cash sweep mechanism for excess cash generated to be applied towards the payment of Deferred Amounts. For a description of the Restructuring, including the covenants and limitations and the cash sweep mechanism placed upon the Company under the Supplemental Agreements, see &#8220;Item 5.&#160; Operating and Financial Review and Prospects &#8211; B. Liquidity and Capital Resources &#8211; The Restructuring Transactions&#8221; under the 2016 Annual Report.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As of December 31, 2016 and June 30, 2017, the Company was required to maintain minimum liquidity, not legally restricted, of $47,566 and $52,162, respectively, which is included within &#8220;Cash and cash equivalents&#8221; in the accompanying consolidated balance sheets.&#160; In addition, as of December 31, 2016 and June 30, 2017, the Company was required to maintain a minimum liquidity, legally restricted, of $14,004 and $20,540 (which amount included a portion of the proceeds from the sale of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font> that was subsequently released in July 2017 when the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Diva</font> (Note 5) replaced the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font> as a pledged vessel under the DNB $120,000 Facility (Note 8)), which is included within &#8220;Restricted cash&#8221; in the accompanying consolidated balance sheets.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Under all loan agreements, the Company is not allowed to pay dividends until all Deferred Amounts have been repaid in full. Additionally, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">As of December 31, 2016 and June 30, 2017, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">The principal payments required to be made after June 30, 2017 for all of the then-outstanding bank debt, after giving effect to the Restructuring, are as follows:</div>

<div style="TEXT-ALIGN: justify">
<table id="zc3a7670ea0ef4f97a7cd3290ecf8cc30" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 80%" cellspacing="0" cellpadding="0" border="0">
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Twelve month periods ending</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Amount</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7,532</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2019</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">267,630</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">210,064</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2021</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">135,246</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2022</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">83,078</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">June 30, 2023 and thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">64,143</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total Long term debt</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">767,693</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Unamortized Deferred financing fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">8,263</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total Long term debt, net</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">759,430</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Current portion of long term debt</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">7,532</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Long term debt, net</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">751,898</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The 2019 Notes mature in November&#160;2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2016 and June 30, 2017 net of unamortized deferred financing fees of $1,243 and $1,028, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As of June 30, 2017, 62 of the Company&#8217;s owned vessels, having a net carrying value of $1,465,411, were subject to first-priority mortgages as collateral to the Company&#8217;s loan facilities.&#160; In addition, all eight of the Company&#8217;s bareboat chartered vessels, having a net carrying value of $331,248 were pledged as collateral under the Company&#8217;s bareboat charter agreements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">For the six-month periods ended June 30, 2016 and 2017, the Company&#8217;s existing financing agreements bore interest at a weighted-average rate of approximately 4.0% and 4.58 %, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">All of the Company&#8217;s bank loans bear interest at LIBOR plus a margin.&#160; The amounts of &#8220;Interest and finance costs&#8221; included in the accompanying consolidated unaudited interim condensed consolidated statements of operations are analyzed as follows:</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="z6203545ca639411993bbd3cc44f56ee8" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 80%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six month period ended</div>

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

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Interest on long term debt and capital leases</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">19,651</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">23,008</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Less: Interest capitalized</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(2,578</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,260</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Reclassification adjustments of interest rate swap loss transferred to Interest and </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">finance costs from Other Comprehensive Income (Note 15)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">667</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">473</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Amortization of deferred finance charges</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,561</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,288</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Other bank and finance charges</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">393</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">257</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">19,694</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">23,766</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

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<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-15</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">8.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Long-term Debt - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">In connection with the prepayments of certain loans following the sale of the corresponding financed 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, $1,801 and $358 of unamortized deferred finance charges was written off and included under &#8220;Loss on debt extinguishment&#8221; in the accompanying unaudited interim condensed consolidated statements of operations for the six-month periods ended June 30, 2016 and 2017, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">9.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Preferred and Common Shares and Additional Paid-in Capital:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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, 2016, included in the 2016 Annual Report.</div>

<div style="MARGIN-BOTTOM: 12pt; 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-WEIGHT: bold; FONT-STYLE: italic">Equity offerings</font>: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">On February 2, 2017, the Company completed a private placement of 6,310,272 common shares, at a price of $8.154 per share (the &#8220;February 2017 Private Placement&#8221;), raised for general corporate purposes. The aggregate proceeds to the Company, net of private placement agent&#8217;s fees and expenses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">, were approximately $50,554. One of the Company&#8217;s significant shareholders, Oaktree and its affiliates, purchased a total of 3,244,292 of the common shares in the February 2017 Private Placement.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">10.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Management fees:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Management fees in the accompanying unaudited interim condensed consolidated statements of operations represent fees incurred by the Company in exchange for certain procurement services provided by Ship Procurement Services S.A.&#160; (&#8220;SPS&#8221;) at a daily fee of $0.295 per vessel, which for the six-month periods ended June 30, 2016 and 2017 amounted to $3,911 and $3,689, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">11.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Other operational gain:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">During the six-month period ended June 30, 2017, the Company recognized other operational gain of $2,461, mainly consisting of an amount of $2,141 resulting from a cash settlement of a commercial dispute.</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">12.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Earnings / (Loss) per Share:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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.&#160; The restricted shares issued under the Company&#8217;s equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements.&#160; The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.</div>

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

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-16</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">12.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Earnings / (Loss) per Share - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The Company calculates basic and diluted earnings / loss per share as follows:</div>

<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">
<table id="z2e9160c4ad8841f68c12afb20048f91f" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 80%" cellspacing="0" cellpadding="0" border="0">
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six month period ended June 30,</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Income / (Loss) :</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Net income / (loss)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(81,696</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(26,229</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Basic earnings / (loss) per share:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Weighted average common shares outstanding, basic</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">43,880,713</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">62,188,645</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Basic earnings / (loss) per share</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(1.86</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(0.42</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Effect of dilutive securities:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Dillutive effect of non vested shares</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Weighted average common shares outstanding, diluted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">43,880,713</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">62,188,645</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Diluted earnings / (loss) per share</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(1.86</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(0.42</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 3pt; TEXT-ALIGN: justify; MARGIN-TOP: 3pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Because the Company incurred net losses for the six-month periods ended June 30, 2016 and 2017, the effect of the 690,000 and 1,024,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2016 and 2017, respectively, would be anti-dilutive; therefore &#8220;Basic earnings / (loss) per share&#8221; equals &#8220;Diluted earnings / (loss) per share.&#8221;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">13.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Equity Incentive Plans:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Details of the Company&#8217;s Equity Incentive Plans and share awards granted up to December 31, 2016 are discussed in Note 12 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2016, included in the 2016 Annual Report.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company.&#160; The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared.&#160; The dividends with respect to these shares are forfeitable.&#160; Share options have no voting or other shareholder rights.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">On February 22, 2017, the Company&#8217;s Board of Directors adopted the 2017 Equity Incentive Plan (the &#8220;2017 Plan&#8221;) and reserved for issuance 950,000 common shares thereunder.&#160; The terms and conditions of the 2017 Plan are substantially similar to the terms and conditions of Company&#8217;s previous equity incentive plans. On the same date, 944,000 restricted common shares were granted to certain of our directors and officers, out of which 744,000 shares vested on August 22, 2017. The remaining 200,000 restricted common shares vest on August 22, 2018. During August and September 2017, 737,725 shares were issued in connection with the 2017 Equity Incentive Plan.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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.&#160; For the six-month periods ended June 30, 2016 and 2017, the total share-based compensation cost was $2,285 and $6,360, respectively, included under &#8220;General and administrative expenses&#8221; in the accompanying unaudited interim condensed consolidated statements of operations.</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-17</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">13.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Equity Incentive Plans- continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">A summary of the status of the Company&#8217;s non-vested share options and restricted shares as of June 30, 2016 and 2017 and the movement during the six-month periods ended June 30, 2016 and 2017, respectively, is presented below.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<table id="z589a045e138648e79dd4e54b43b87dfe" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 80%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Number of </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">options</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Weighted average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">exercise price</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Weighted Average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Grant Date </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Fair Value</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Options</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Outstanding at January 1, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">104,250</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">27.5</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7.0605</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Outstanding as of June 30, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">104,250</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">27.5</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">7.0605</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Number of </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">options</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; BACKGROUND-COLOR: #ffffff" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Weighted average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">exercise price</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Weighted Average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Grant Date </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Fair Value</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Options</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Outstanding at January 1, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">104,250</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">27.5</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">7.0605</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Outstanding as of June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">104,250</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">27.5</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9.01%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">7.0605</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<table id="zf987f22a988e408dadb0c37c4f01f937" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Number of </div>

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

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Grant Date </div>

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

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Unvested as at January 1, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">135,230</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">17.75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">690,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">3.75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Cancelled</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,685</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">17.75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(133,545</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">17.75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Unvested as at June 30, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">690,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">3.75</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Unvested as at January 1, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">385,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">4.82</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">944,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">9.59</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(305,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">4.94</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Unvested as at June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">1,024,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">9.18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $3,689 and $410, respectively, as of June 30, 2017 and is expected to be recognized over the weighted average period of 0.56 years and 2.79 years, respectively.</div>

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

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

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-18</font></div>

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

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">14.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Commitments and Contingencies:</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">a)</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Lease commitments</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The following table sets forth inflows and outflows related to the Company&#8217;s leases, as at June 30, 2017.</div>

<div>
<div style="MARGIN-BOTTOM: 4pt; TEXT-ALIGN: justify; MARGIN-RIGHT: 396pt">
<table id="z1384fa7ceee643bb8f5182e70f960a2e" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="26">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Twelve month periods ending June 30,</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: middle; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-STYLE: italic">+ inflows/ - outflows</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2019</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2021</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; TEXT-ALIGN: center" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">2022</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2023 and </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Future, minimum, non-cancellable charter revenue (1)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,960</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">32,960</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(552</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(552</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Bareboat commitments charter hire (3)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(56,382</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,517</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(4,681</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(4,646</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(4,609</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(4,570</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(36,359</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(23,974</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">30,891</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(36,359</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>
</table>
</div>

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z564c6350e3864710beabd01b9f84adbe" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">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 commissions, 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="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z3601356c472a4e7ab67c471246729a64" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts represent the Company&#8217;s commitments under the operating lease arrangement for <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Astakos</font>. The lease has expired in August 2017.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z7e1d78a8f5ac41548e0b0c8d89a402f3" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts represent the Company&#8217;s commitments for charter hire fees under the bareboat lease arrangements for the vessels under construction.&#160; 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 1.45%, as of June 30, 2017.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">b)</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Legal proceedings</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business.&#160; In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company&#8217;s vessels.&#160; The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure.&#160; Currently, management is not aware of, 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="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As described on Item 8 of the 2016 Annual Report, o<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">n October 23, 2014, a purported shareholder (the &#8220;Plaintiff&#8221;) of Star Bulk Carriers Corp. 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 </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">and has denied them and defended 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. The appeal was heard before the Court of Appeals for the Second Circuit on December 6, 2016. I</font>n April 2017, the Court of Appeal dismissed the appeal in all respects and affirmed the first instance judgment. Plaintiff filed a petition for panel rehearing and/or rehearing en banc, which petition was dismissed in June 2017. In September 2017, Plaintiff filed a petition for certiorari in the U.S. Supreme Court seeking review of the Second Circuit's affirmance of dismissal of the complaint, which petition is now pending. The Company cannot predict the outcome of the case.</div>

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

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-19</font></div>

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">15.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fair value measurements:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging</font>&#8221;.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Fair value on a recurring basis:</u></div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Details of the Company&#8217;s interest rate swap are discussed in Note 18 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2016, included in the 2016 Annual Report. Major terms are summarized below:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z9e543df1a8a542a7bb8dcfe9b5b7fcd9" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">Notional amount</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Counterparty</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Inception</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Expiry</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Fixed Rate</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Goldman Sachs</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">October 1, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">April 1, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.7925</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">98,099</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Goldman Sachs</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">October 1, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">April 1, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.8075</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">98,099</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Goldman Sachs</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">October 1, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">April 1, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">2.0675</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">39,240</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Goldman Sachs</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">October 1, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">April 1, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.8450</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">98,099</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Goldman Sachs</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">October 1, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">April 1, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.8025</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">58,860</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">HSH - Star Challenger</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">September 30, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">September 28, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.7650</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">6,719</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">HSH - Star Fighter</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">September 30, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">September 28, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.7650</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">6,854</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Credit Agricole - Star Borealis</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">November 10, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">August 9, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.7200</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">21,986</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Credit Agricole - Star Polaris</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">August 11, 2014</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">November 9, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.7050</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">23,132</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">451,088</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The amount recognized in &#8220;Other comprehensive income/(loss)&#8221; is derived from the effective portion of unrealized gains/losses from cash flow hedges.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">An amount of approximately ($125) is expected to be reclassified into earnings during the following 12-month period when realized.</div>

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

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal">F-20</font></div>

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

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">15.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fair value measurements - continued:</font></div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Forward Freight Agreements (&#8220;FFAs&#8221;):</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">During the year ended December 31, 2016 and the six-month period ended June 30, 2017, the Company entered into a certain number of FFAs on the Capesize, Panamax and Supramax indexes. There was no FFA open position as of June 30, 2017.</div>
</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The amounts of Gain / (Loss) on derivative financial instruments and forward freight agreements recognized in the accompanying unaudited interim condensed consolidated statements of operations, are analyzed as follows:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<table id="zc0dbc4a396534de09dbd48111425f162" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Six month period ended June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">2017</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Unaudited Condensed Consolidated Statement of Operations</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Gain/(loss) on derivative financial instruments, net</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">Unrealized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,930</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1,642</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">Realized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(2,709</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(1,542</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">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="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(42</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
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</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Gain/(loss) on derivative financial instruments, net</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(4,681</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">100</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

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<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 18pt">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(667</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(473</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 9pt">Total Gain/(loss) recognized</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(667</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">(473</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Gain/(loss) on forward freight agreements</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Realized gain/(loss) on forward freight agreements</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">283</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(500</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Unrealized gain/(loss) on forward freight agreements</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(41</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total Gain/(Loss) recognized</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">283</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">(541</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">)</div>
</td>
</tr>
</table>
</div>

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

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">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) / income&#8221; as of June 30, 2017, and in accordance with ASC 815 &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction</font>,&#8221; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

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

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

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

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">15.</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fair value measurements - continued:</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis.&#160; This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values.&#160; The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</div>

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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">Level 1:</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Quoted market prices in active markets for identical assets or liabilities</td>
</tr>
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</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="z4b94bcc0b4f642ad91e31ebf7d6d167d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">Level 2:</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Observable market-based inputs or unobservable inputs that are corroborated by market data</td>
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<table id="zf105b62199634a99bcafe16aaa79689c" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right">Level 3:</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Unobservable inputs that are not corroborated by market data</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The following table summarizes the valuation of the Company&#8217;s financial instruments as of December 31, 2016 and June 30, 2017 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</div>

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<table id="z7c653876d7c64b5584161fa5cb3aed7d" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 12px">
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<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="11">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">Significant Other Observable Inputs (Level 2)</div>
</td>
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</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">December 31, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">(not designated as </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">cash flow hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">(designated as </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">cash flow hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">(not designated as </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">cash flow hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">(designated as </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: center">cash flow hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">ASSETS</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Forward freight agreements&#160; - asset position</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">41</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">41</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">LIABILITIES</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Forward freight agreements - liability position</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Interest rate swaps - liability position</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">2,908</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments.&#160; The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2017.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">As further discussed in Note&#160;5, the Company recognized an impairment loss of $6,694 for the six month period ended June 30, 2016, of which:</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$5,626 relates to the sale of<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic"> Star Michele</font>. As discussed in Note 5, the Company was in negotiations to sell this vessel as of March&#160;31, 2016, and reached an agreement for the sale in April&#160;2016.&#160; The carrying value of this vessel was written down to its fair value as determined by reference to its agreed sale price less costs of sale.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Notes to Unaudited Interim Condensed Consolidated Financial Statements June 30, 2017</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)<br />
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">b)</font><font style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Fleet update</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">On <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff">July 24, 2017 the Company took delivery of the vessel </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; BACKGROUND-COLOR: #ffffff">Diva</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BACKGROUND-COLOR: #ffffff"> for a purchase price of $10,500 (Note 5). The vessel replaced </font>the sold vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Eleonora</font>&#160;as a pledged vessel under the DNB $120,000 Facility (Note 8).</div>

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      <endDate>2017-06-30</endDate>
    </period>
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  <context id="FYp0YTD__ABNAmroBankFacilityMember__Tranche1FirstFourInstallmentsMember">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0001386716</identifier>
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    <period>
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      <endDate>2017-06-30</endDate>
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  <context id="FYp0Qp0e__ABNAmroBankFacilityMember__Tranche1FirstFourInstallmentsMember">
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  <unit id="Shares">
    <measure>shares</measure>
  </unit>
  <unit id="USD">
    <measure>iso4217:USD</measure>
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  <unit id="EPS">
    <divide>
      <unitNumerator>
        <measure>iso4217:USD</measure>
      </unitNumerator>
      <unitDenominator>
        <measure>shares</measure>
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  <unit id="purenodecimals">
    <measure>pure</measure>
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  <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;16.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subsequent Events:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family: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="text-align:justify;margin-left: 12.0px;margin-bottom:12.0px;text-indent:-12.0px;"&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;In July 2017, the Company refinanced the Heron Vessels Facility through Tranche B of the ABN AMRO Bank N.V. $30,844 Facility (Note 8).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 12.0px;margin-bottom:12.0px;text-indent:-12.0px;"&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;&lt;/b&gt;In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental 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;&lt;b&gt;b)&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 &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;July 24, 2017 the Company took delivery of the vessel &lt;i&gt;Diva&lt;/i&gt; for a purchase price of $10,500 (Note 5). The vessel replaced &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;the sold vessel &lt;i&gt;Star Eleonora&lt;/i&gt; as a pledged vessel under the DNB $120,000 Facility (Note 8).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock 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;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;Details of the Company's interest rate swap are discussed in Note 18 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 Annual Report. Major terms are summarized below: &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:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="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:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Notional amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&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;Counterparty &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&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;Inception&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&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;Expiry&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:85px;"&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;Fixed Rate &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: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, 2017&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:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7925%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8075%&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2.0675%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;39,240 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8450%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8025%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;58,860 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH - Star Challenger&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 28, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7650%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,719 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH - Star Fighter &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 30, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 28, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7650%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,854 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole - Star Borealis&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;November 10, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August 9, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7200%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;21,986 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole - Star Polaris&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August 11, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;November 9, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7050%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;23,132 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:9px;"&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="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align: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="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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;451,088 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent: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 gains/losses from cash flow hedges.&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 ($125) 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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Forward Freight Agreements (&amp;#147;FFAs&amp;#148;):&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the year ended December 31, 2016 and the six-month period ended June 30, 2017, the Company entered into a certain number of FFAs on the Capesize, Panamax and Supramax indexes. There was no FFA open position as of June 30, 2017. &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;The amounts of Gain / (Loss) on derivative financial instruments and forward freight agreements 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-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-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:416px;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:45px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:194px;"&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:416px;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:45px;"&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: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;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-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:29px;"&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:79px;"&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"&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:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="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:416px;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 financial 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:45px;"&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:67px;"&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:29px;"&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:79px;"&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:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&gt;&lt;div style="text-indent:26.7px;"&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;&amp;#160;&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;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,642 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&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: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;(2,709)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,542)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:38px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-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: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;&amp;#160;&amp;#160;(42)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:416px;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 financial 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:45px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(4,681)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;100 &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:416px;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:45px;"&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:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:29px;"&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:79px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="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:416px;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:45px;"&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:67px;"&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:29px;"&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:79px;"&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:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&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: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;(667)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(473)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:45px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(473)&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:416px;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:45px;"&gt;&lt;div style="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-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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&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:416px;height:14px;"&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;Gain/(loss) on forward freight agreements&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:416px;height:14px;"&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;Realized gain/(loss) on forward freight agreements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;283 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(500)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"&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;Unrealized gain/(loss) on forward freight agreements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(41)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;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;&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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;283 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(541)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:416px;"&gt;&lt;/td&gt;
    &lt;td style="width:45px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:29px;"&gt;&lt;/td&gt;
    &lt;td style="width:79px;"&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;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) / income&amp;#148; as of June 30, 2017, 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;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. &amp;#160;This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. &amp;#160;The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="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: 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;Level 1:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Quoted market prices in active markets for identical assets or liabilities&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 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;Level 2:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Observable market-based inputs or unobservable inputs that are corroborated by market data&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 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;Level 3:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unobservable inputs that are not corroborated by market data&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family: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, 2016 and June 30, 2017 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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;/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:261px;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="9" style=" border:solid #000000 0.0px;width:450px;"&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:261px;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: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;December 31, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="5" 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, 2017&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:261px;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;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:261px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&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: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" colspan="2" 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" colspan="3" 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" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Forward freight agreements &amp;#160;- asset position &lt;/font&gt;&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:126px;"&gt;&lt;div style="text-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;41 &lt;/font&gt;&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: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;/font&gt;&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:109px;"&gt;&lt;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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" 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: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;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Total&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:126px;"&gt;&lt;div style="text-align: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;41 &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: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;-&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: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;-&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: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;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Forward freight agreements - liability position&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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" colspan="2" 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;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Interest rate swaps - liability position &lt;/font&gt;&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:126px;"&gt;&lt;div style="text-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;2,908 &lt;/font&gt;&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: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;437&lt;/font&gt;&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: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;1,963 &lt;/font&gt;&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: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;241&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Total&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:126px;"&gt;&lt;div style="text-align: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;2,908 &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: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;437&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: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;1,963 &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: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;241 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:261px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:122px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:104px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:101px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&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. &amp;#160;The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2017.&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 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 $49,420, as of June 30, 2017.&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 non-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;As further discussed in Note&amp;#160;5, the Company recognized an impairment loss of $6,694 for the six month period ended June 30, 2016, of which:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$5,626 relates to the sale of&lt;i&gt; Star Michele&lt;/i&gt;. As discussed in Note 5, the Company was in negotiations to sell this vessel as of March&amp;#160;31, 2016, and reached an agreement for the sale in April&amp;#160;2016. &amp;#160;The carrying value of this vessel was written down to its fair value as determined by reference to its agreed sale price less costs of sale.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$1,068 relates to the termination of two shipbuilding contracts in February&amp;#160;2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;No such case for long-lived assets held and used existed as of June 30, 2017.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock 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;14.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commitments and Contingencies:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;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;Lease commitments&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 following table sets forth inflows and outflows related to the Company's leases, as at June 30, 2017.&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:224px;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:418px;"&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:224px;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:66px;"&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;2018&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&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:55px;"&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:55px;"&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:55px;"&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&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2023 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:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$32,960 &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;$32,960 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(552)&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(552)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:224px;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;Bareboat commitments charter hire (3) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(56,382)&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,517)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,681)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,646)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,609)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,570)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(36,359)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(23,974)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;30,891 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,681)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,646)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,609)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,570)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ (36,359)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:224px;"&gt;&lt;/td&gt;
    &lt;td style="width:66px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:72px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&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:10.7px;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 commissions, 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:10.7px;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;Astakos&lt;/i&gt;. The lease has expired in August 2017.&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:10.7px;color:#000000; "&gt;&amp;#160;(3)&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. &amp;#160;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 1.45%, as of June 30, 2017.&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;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Legal proceedings&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;Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. &amp;#160;In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. &amp;#160;The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. &amp;#160;Currently, management is not aware of, 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;As described on Item 8 of the 2016 Annual Report, o&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;n October 23, 2014, a purported shareholder (the &amp;#147;Plaintiff&amp;#148;) of Star Bulk Carriers Corp. filed a derivative and putative class action lawsuit in New York state court against the Company's Chief Executive Officer, members of its Board of Directors and several of its shareholders and related entities. The Company has been named as a nominal defendant in the lawsuit. The lawsuit alleges that the acquisition of Oceanbulk and purchase of several Excel Vessels were the result of self-dealing by various defendants and that the Company entered into the respective transactions on unfair terms. The lawsuit further alleges that, as a result of these transactions, several defendants' interests in the Company have increased and that the Plaintiff's interest in the Company has been diluted. The lawsuit also alleges that the Company's management has engaged in other conduct that has resulted in corporate waste. The lawsuit seeks cancellation of all shares issued to the defendants in connection with the acquisition of Oceanbulk, unspecified monetary damages, the replacement of some or all members of the Company's Board of Directors and its Chief Executive Officer, and other relief. The Company believes the claims are completely without merit and has denied them and defended 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's motion to dismiss in full and dismissed the matter. On February 24, 2016, Plaintiff filed a notice of appeal. The appeal was heard before the Court of Appeals for the Second Circuit on December 6, 2016. I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;n April 2017, the Court of Appeal dismissed the appeal in all respects and affirmed the first instance judgment. Plaintiff filed a petition for panel rehearing and/or rehearing en banc, which petition was dismissed in June 2017. In September 2017, Plaintiff filed a petition for certiorari in the U.S. Supreme Court seeking review of the Second Circuit's affirmance of dismissal of the complaint, which petition is now pending. The Company cannot predict the outcome of the case.&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:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock 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;13.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity Incentive Plans:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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 Equity Incentive Plans and share awards granted up to December 31, 2016 are discussed in Note 12 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 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;All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. &amp;#160;The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. &amp;#160;The dividends with respect to these shares are forfeitable. &amp;#160;Share options have no voting or other shareholder rights.&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 February 22, 2017, the Company's Board of Directors adopted the 2017 Equity Incentive Plan (the &amp;#147;2017 Plan&amp;#148;) and reserved for issuance 950,000 common shares thereunder. &amp;#160;The terms and conditions of the 2017 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans. On the same date, 944,000 restricted common shares were granted to certain of our directors and officers, out of which 744,000 shares vested on August 22, 2017. The remaining 200,000 restricted common shares vest on August 22, 2018. During August and September 2017, 737,725 shares were issued in connection with the 2017 Equity Incentive Plan.&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 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. &amp;#160;For the six-month periods ended June 30, 2016 and 2017, the total share-based compensation cost was $2,285 and $6,360, 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: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 status of the Company's non-vested share options and restricted shares as of June 30, 2016 and 2017 and the movement during the six-month periods ended June 30, 2016 and 2017, respectively, is presented below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family: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-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:141px;"&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;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;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"&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;7.0605 &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:205px;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:74px;"&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:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;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="middle" style=" border:solid #000000 0.0px;width:120px;"&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: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:141px;"&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, 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:0.0px;"&gt;&lt;font style="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, 2017&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;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;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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;&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;7.0605 &lt;/b&gt;&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 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;&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;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left: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: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;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:343px;height:7px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div 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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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;&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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;(1,685)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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: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;&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:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;(133,545)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align: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: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;&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:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:68px;"&gt;&lt;div style="text-align: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;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;3.75 &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:343px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&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:343px;height:7px;"&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, 2017&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;385,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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: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;4.82&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;944,000 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9.59 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(305,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;4.94 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"&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, 2017&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,024,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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: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;9.18&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="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 estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $3,689 and $410, respectively, as of June 30, 2017 and is expected to be recognized over the weighted average period of 0.56 years and 2.79 years, respectively.&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-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareTextBlock 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;12.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Earnings / (Loss) per Share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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. &amp;#160;The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. &amp;#160;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-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-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:276px;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:90px;"&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="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:241px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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" 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: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;2017&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:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(81,696&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" colspan="2" 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: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;(26,229&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:276px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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" 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: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;62,188,645 &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:276px;height:13px;"&gt;&lt;div style="margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&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" 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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.42)&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:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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" colspan="2" 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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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" colspan="2" 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;62,188,645 &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:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left: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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" 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: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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"&gt;&lt;div style="margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&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" 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: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;(0.42)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:276px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:87px;"&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:87px;"&gt;&lt;/td&gt;
    &lt;td style="width:5px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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;Because the Company incurred net losses for the six-month periods ended June 30, 2016 and 2017, the effect of the 690,000 and 1,024,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2016 and 2017, 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="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <sblk:OtherOperationalGainTextBlock 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;11.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other operational gain:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:5.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six-month period ended June 30, 2017, the Company recognized other operational gain of $2,461, mainly consisting of an amount of $2,141 resulting from a cash settlement of a commercial dispute.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:5.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:OtherOperationalGainTextBlock>
  <sblk:ManagementFeesTextBlock 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;10.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Management fees:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Management fees in the accompanying unaudited interim condensed consolidated statements of operations represent fees incurred by the Company in exchange for certain procurement services provided by Ship Procurement Services S.A. &amp;#160;(&amp;#147;SPS&amp;#148;) at a daily fee of $0.295 per vessel, which for the six-month periods ended June 30, 2016 and 2017 amounted to $3,911 and $3,689, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:ManagementFeesTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock 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;9.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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, 2016, included in the 2016 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;&lt;b&gt;Equity offerings&lt;/b&gt;&lt;/i&gt;: &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On February 2, 2017, the Company completed a private placement of 6,310,272 common shares, at a price of $8.154 per share (the &amp;#147;February 2017 Private Placement&amp;#148;), raised for general corporate purposes. The aggregate proceeds to the Company, net of private placement agent's fees and expenses, were approximately $50,554. One of the Company's significant shareholders, Oaktree and its affiliates, purchased a total of 3,244,292 of the common shares in the February 2017 Private Placement.&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:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:LongTermDebtTextBlock 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;8.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Long-term Debt:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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, 2016, included in the 2016 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;b&gt;ABN AMRO Bank N.V. $30,844 Facility:&lt;/b&gt; On June 23, 2017, the Company executed a loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844, available in two tranches, 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;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 84.0px;text-indent:-84.0px;"&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;Tranche A, with a principal amount of $16,000, was drawn down on June 27, 2017 to partially finance the acquisition of &lt;i&gt;Star Charis&lt;/i&gt; and &lt;i&gt;Star Suzanna&lt;/i&gt;, which are two Kamsarmax vessels, built in 2013, with carrying capacity of 81,711 deadweight tons each, acquired in March and May 2017, respectively (Note 5).&lt;/font&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;This tranche matures in June 2022 and is repayable in 20 quarterly installments, the first four of which will be in the amount of $1,000 and the remaining 16 of which will be in the amount of $360, commencing in September 2017, and a final balloon payment of $6,240, payable together with the last installment.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 84.0px;text-indent:-84.0px;"&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;Tranche B, with a principal amount of $14,844, was drawn down on July 7, 2017 to refinance all of the outstanding debt under the Heron Vessels Facility. Tranche B is secured by &lt;i&gt;Star Angelina&lt;/i&gt; and &lt;i&gt;Star Gwyneth&lt;/i&gt;. This tranche matures in June 2022 and is repayable in 17 equal quarterly installments of $640, commencing in July 2018, and a final balloon payment of $3,964, payable together with the last installment.&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;&lt;b&gt;Heron Vessels Facility: &lt;/b&gt;In July 2017, the Company refinanced the Heron Vessels Facility with Tranche B of the ABN Amro Bank N.V. $30,844 Facility discussed above.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DNB $120,000 Facility: &lt;/b&gt;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On July 24, 2017 the Company took delivery of the second-hand Supramax vessel &lt;i&gt;Diva&lt;/i&gt;, which&lt;i&gt; &lt;/i&gt;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;replaced the sold vessel &lt;i&gt;Star Eleonora&lt;/i&gt; as a pledged vessel under the DNB $120,000 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;Restructuring &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;Pursuant to the Restructuring, as described in &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Note 8 of the Company's consolidated financial statements for the year ended December 31, 2016&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;, the Company agreed with all of its lenders at the time to, among others things, defer principal payments owed from June 1, 2016 through June 30, 2018 (the &amp;#147;Deferred Amounts&amp;#148;) to the due date of the balloon installments of each facility. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental Agreements. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As a result, no principal payments are required to be made until June 30, 2018, for the applicable loan agreements which are part of the Restructuring. The current portion of long term debt as of June 30, 2017, includes (i) the installments to be repaid during the next 12 months under Tranche A of the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;ABN Amro Bank N.V. $30,844 Facility&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;, which was not part of the Restructuring, and (ii) &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;an amount of $3,635 that the Company paid in August 2017 to all parties under the Restructuring in accordance with the terms of the Supplemental Agreements, representing 20% of the equity used for the acquisition of &lt;i&gt;Star Charis&lt;/i&gt;, &lt;i&gt;Star Suzanna &lt;/i&gt;and&lt;i&gt; Diva &lt;/i&gt;(discussed in Note 5)&lt;i&gt; &lt;/i&gt;(the &amp;#147;20% Equity Prepayment Amount&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;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;div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Symbol;font-size:13.3px;color:#000000; "&gt;&amp;#8729;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;percentage of aggregate vessel value to secured loans (the security cover ratio or&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#147;SCR&amp;#148;);&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Symbol;font-size:13.3px;color:#000000; "&gt;&amp;#8729;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a maximum ratio of total liabilities to market value adjusted total assets;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Symbol;font-size:13.3px;color:#000000; "&gt;&amp;#8729;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum EBITDA to interest coverage ratio;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Symbol;font-size:13.3px;color:#000000; "&gt;&amp;#8729;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum liquidity; and&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Symbol;font-size:13.3px;color:#000000; "&gt;&amp;#8729;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;market value adjusted net worth&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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 Supplemental Agreements impose certain restrictions on the Company and specify a quarterly cash sweep mechanism for excess cash generated to be applied towards the payment of Deferred Amounts. For a description of the Restructuring, including the covenants and limitations and the cash sweep mechanism placed upon the Company under the Supplemental Agreements, see &amp;#147;Item 5.&amp;#160; Operating and Financial Review and Prospects -&amp;#160;B. Liquidity and Capital Resources -&amp;#160;The Restructuring Transactions&amp;#148; under the 2016 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;As of December 31, 2016 and June 30, 2017, the Company was required to maintain minimum liquidity, not legally restricted, of $47,566 and $52,162, respectively, which is included within &amp;#147;Cash and cash equivalents&amp;#148; in the accompanying consolidated balance sheets. &amp;#160;In addition, as of December 31, 2016 and June 30, 2017, the Company was required to maintain a minimum liquidity, legally restricted, of $14,004 and $20,540 (which amount included a portion of the proceeds from the sale of &lt;i&gt;Star Eleonora&lt;/i&gt; that was subsequently released in July 2017 when the vessel &lt;i&gt;Diva&lt;/i&gt; (Note 5) replaced the vessel &lt;i&gt;Star Eleonora&lt;/i&gt; as a pledged vessel under the DNB $120,000 Facility (Note 8)), 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;Under all loan agreements, the Company is not allowed to pay dividends until all Deferred Amounts have been repaid in full. Additionally, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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, 2016 and June 30, 2017, 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;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after June 30, 2017 for all of the then-outstanding bank debt, after giving effect to the Restructuring, are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align: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:353px;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;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,532&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;267,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;210,064&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;135,246&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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&lt;/font&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;83,078&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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, 2023 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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;64,143&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;767,693&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:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,263&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;759,430&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:353px;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;Current portion of long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,532&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:353px;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;Long term debt, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;751,898&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="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 2019 Notes mature in November&amp;#160;2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2016 and June 30, 2017 net of unamortized deferred financing fees of $1,243 and $1,028, 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, 2017, 62 of the Company's owned vessels, having a net carrying value of $1,465,411, were subject to first-priority mortgages as collateral to the Company's loan facilities. &amp;#160;In addition, all eight of the Company's bareboat chartered vessels, having a net carrying value of $331,248 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, 2016 and 2017, the Company's existing financing agreements bore interest at a weighted-average rate of approximately 4.0% and 4.58 %, 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. &amp;#160;The amounts of &amp;#147;Interest and finance costs&amp;#148; included in the accompanying consolidated unaudited interim condensed consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="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;2016&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;2017&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;$19,651 &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;$23,008 &lt;/font&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;($2,578)&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;($1,260)&lt;/font&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="margin-left: 12.7px;text-indent:0.0px;"&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 (Note 15)&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;$667 &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;$473 &lt;/font&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;$1,561 &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;$1,288 &lt;/font&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;$393 &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;$257 &lt;/font&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;$19,694 &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;$23,766 &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 align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In connection with the prepayments of certain loans following the sale of the corresponding financed 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, $1,801 and $358 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 statements of operations for the six-month periods ended June 30, 2016 and 2017, respectively. &amp;#160;&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-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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&amp;#160;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; Accumulated amortization&lt;i&gt; &lt;/i&gt;as of December&amp;#160;31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December&amp;#160;31, 2015 of $254, which was fully amortized during the six-month period ended June&amp;#160;30, 2016 and is included under &amp;#147;Voyage revenues&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;/div&gt;</sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTextBlock 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;6.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Advances for vessels under construction and acquisition of vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="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, 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-align: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, 2017&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;32,602&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;30,102&lt;/font&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;Advances for vessels acquisitions (Note 5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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: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;1,050&lt;/font&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;25,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;10,460&lt;/font&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;&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: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;4,966&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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: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;3,590&lt;/font&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;1,730&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;1,270&lt;/font&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;&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 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;64,570&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;46,472&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-top:3.0px;margin-bottom:3.0px;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;As of June 30, 2017, the Company had three Newcastlemax dry bulk carrier vessels on order at SWS in China (one of which is subject to a bareboat charter accounted for as a capital lease). As of June 30, 2017, the total aggregate remaining contracted price for these newbuilding vessels plus agreed additional amounts was $103,492, payable upon delivery. Delivery is expected to be in October 2017 for HN 1342 (tbn &lt;i&gt;Star Eleni&lt;/i&gt;) and in January 2018 for HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) and HN 1343 (tbn &lt;i&gt;Star Leo&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;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, 2016, included in the 2016 Annual Report, the Company as of June 30, 2017 is entitled to receive a refund of $1,604 from the shipyards, which amount is included under &amp;#147;Other current assets.&amp;#148;&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-indent:0.0px;"&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock 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;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="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 in the accompanying consolidated balance sheets are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:280px;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, 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-align: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:72px;"&gt;&lt;div style="text-align: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, 2017&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:280px;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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="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:280px;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;2,037,737&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,165,892&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:280px;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;1,898&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:280px;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;2,039,635&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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,167,876&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:280px;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;(332,426&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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(370,933&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:280px;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;1,707,209&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 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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,796,943&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent: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: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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On January&amp;#160;6, 2016, the Company took delivery of the vessel &lt;i&gt;Star Lutas&lt;/i&gt; (ex-HN NE 197). &amp;#160;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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On January&amp;#160;8, 2016, the Company took delivery of the vessel &lt;i&gt;Kennadi&lt;/i&gt; (ex-HN 1080). &amp;#160;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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On February&amp;#160;26, 2016, the Company took delivery of the vessel &lt;i&gt;Star Poseidon&lt;/i&gt; (ex-HN NE 198). &amp;#160;The delivery installment of $33,390 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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iv)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On March&amp;#160;2, 2016, the Company took delivery of the vessel &lt;i&gt;Mackenzie&lt;/i&gt; (ex-HN 1081). &amp;#160;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: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(v)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On March&amp;#160;11, 2016 and June 6, 2016, the Company took delivery of the vessel &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 bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&amp;#147;CSSC&amp;#148;) that is accounted for in the Company's consolidated financial statements as a capital lease, as further described in the 2016 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;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 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. &amp;#160;All of the vessels mentioned above were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized an aggregate 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&amp;#160;2016, the Company negotiated the sale of &lt;i&gt;Star Michele&lt;/i&gt;. &amp;#160;The Memorandum of the Agreement was signed in April&amp;#160;2016 and the vessel was delivered to its buyers in late May&amp;#160;2016. &amp;#160;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;&lt;b&gt;Vessels acquired / disposed of during the six-month period ended June 30, 2017&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 and secondhand vessels:&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&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;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On March 1, 2017, the Company took delivery of the Newcastlemax vessel &lt;i&gt;Star Virgo&lt;/i&gt; (ex-HN 1371), which, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;as further described in the 2016 Annual Report, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;is financed under a bareboat charter with CSSC, accounted for as a capital lease. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On March 28, 2017, the Company took delivery of the Newcastlemax vessel &lt;i&gt;Star Ariadne&lt;/i&gt; (ex-HN 1360), which, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;as further described in the 2016 Annual Report, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;is financed under a bareboat charter accounted for as a capital lease, from CSSC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On March 2, 2017, the Company entered into agreements to acquire two modern Kamsarmax dry bulk vessels from a third party for $15,150 each. Each of the vessels has a carrying capacity of 81,711 deadweight tons and was built with high specifications at Jiangsu New Yangzijiang in 2013. &lt;i&gt;Star Charis&lt;/i&gt; was delivered to the Company on March 22, 2017, and &lt;i&gt;Star Suzanna&lt;/i&gt; was delivered to the Company on May 15, 2017. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On June 23, 2017, the Company executed a new loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;, $16,000 of which was drawn in order to partially finance the two vessels (Note 8).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:-48.0px;"&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;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On June 2, 2017, the Company entered into an agreement to acquire &lt;i&gt;Diva&lt;/i&gt;, a Supramax vessel with carrying capacity of 56,582 deadweight tons, built at Jiangsu Hantong Ship Heavy Industry co Ltd China in 2011, for a purchase price of $10,500. The vessel was delivered to the Company on July 24, 2017 (Note 16) &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;and replaced the sold vessel &lt;i&gt;Star Eleonora&lt;/i&gt;, as a pledged vessel under the DNB $120,000 Facility (Note 8).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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;Sale of vessels:&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On February 9, 2017, the Company entered into an agreement with a third party to sell the vessel&amp;#160;&lt;i&gt;Star Eleonora&amp;#160;&lt;/i&gt;at market terms. The vessel was delivered to its new owner in March 2017, and the resulting loss on sale is separately reflected in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2017.&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 &lt;/i&gt;and&lt;i&gt; Star Libra.&lt;/i&gt; As of June 30, 2017, the Company was party to eight 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, Star Libra, Star Virgo &lt;/i&gt;and &lt;i&gt;Star Ariadne&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 2017 was $3,016 and $5,805, 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, 2017, the net book value of the vessels under capital leases was $331,248 with accumulated depreciation of $15,298. The principal payments required to be made after June 30, 2017 for the outstanding capital lease obligations are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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, 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;$&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;22,465&lt;/font&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;29,691&lt;/font&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;32,764&lt;/font&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;32,452&lt;/font&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&lt;/font&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;32,500&lt;/font&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, 2023 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;163,218&lt;/font&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;313,090&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;Unamortized deferred finance 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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;37 &lt;/font&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, 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: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;313,053&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;78,217&lt;/font&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;234,836&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;9,120&lt;/font&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;225,716&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;No events and circumstances were identified that would require an additional impairment since the Company's last impairment test exercise as of December 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;&amp;#160;&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:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:InventoryDisclosureTextBlock 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;4.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-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;margin-top:3.0px;margin-bottom:3.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="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, 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-align: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:88px;"&gt;&lt;div style="text-align: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, 2017&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;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,629&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,358&lt;/font&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;7,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,800&lt;/font&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,534&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,158&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-top:3.0px;margin-bottom:3.0px;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-top:3.0px;margin-bottom:3.0px;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;&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;b&gt;3.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;Except for the Sydelle profit sharing agreement described below, details of the Company's transactions with related parties did not change in the six-month period ended June 30, 2017 and are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 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;b&gt;Sydelle profit sharing agreement: &lt;/b&gt;In April 2017, Sydelle Marine Limited (&amp;#147;Sydelle&amp;#148;), a company controlled by members of the family of Mr. Petros Pappas, our chief executive officer, entered into an agreement (the &amp;#147;Agreement&amp;#148;) with the Company's fully owned subsidiary Domus Shipping LLC (&amp;#147;Domus&amp;#148;), owner&amp;#160;of the vessel&amp;#160;&lt;i&gt;Star Ariadne,&lt;/i&gt; to operate a pool, whereby the net revenues of &lt;i&gt;Star Ariadne&lt;/i&gt; and the vessel owned by Sydelle, will be equally split between the two companies. This pooling arrangement commenced in April 2017. Pursuant to the Agreement,&amp;#160;the pool adjustment for the six-month period ended June 30, 2017 was ($159), which is recorded in &amp;#147;Voyage revenues&amp;#148; in the accompanying consolidated statements of operations. As of June 30, 2017, the Company had an outstanding payable amount of $159 in connection with the Agreement.&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;Transactions and balances with related parties are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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: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: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;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:353px;height:23px;"&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:solid #000000 0.0px;width:17px;"&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: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;December 31, 2016&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;June 30, 2017&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:353px;height:10px;"&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;Due from related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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;922&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;148 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&gt;&lt;div style="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: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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Ocean Manning Philipines Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;80&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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;Due from related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;922&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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;228&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:353px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&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:353px;height:10px;"&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;Due to related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;&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:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&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;&amp;#160;&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;26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;3&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sydelle profit sharing agreement &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&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;&amp;#160;&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;323&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;157&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;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:353px;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;Due to related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;356&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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;334&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-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:101px;"&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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:86px;"&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:353px;height:10px;"&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;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:101px;"&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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-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:227px;"&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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 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: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;2016&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;2017&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:353px;height: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;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,650)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &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;(1,650)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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: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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(248)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;&amp;#160;&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;(250)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(75)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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;(72)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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: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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;(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:353px;height:10px;"&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 - Alma Properties &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sydelle profit sharing agreement&lt;/font&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;(159)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-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;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <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.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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 2016 Annual Report. &amp;#160;There have been no changes to the Company's significant accounting policies in the six-month period ended June 30, 2017, other than the adoption of (i) ASU &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;No. 2015-11 &amp;#147;&lt;i&gt;Simplifying the measurement of inventory,&lt;/i&gt;&amp;#148; (ii) ASU 2016-05 &amp;#147;&lt;i&gt;Derivatives and Hedging (Topic 815)': Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,&lt;/i&gt;&amp;#148; (iii) ASU No 2016-07 &amp;#147;&lt;i&gt;Investments - Equity Method and Joint Ventures&lt;/i&gt;&amp;#148; and (iv) ASU No 2016-09 &amp;#147;&lt;i&gt;Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting,&lt;/i&gt;&amp;#148; each of which is discussed in Note 2 aa) to the Company's &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;consolidated financial statements included in the 2016 Annual Report. The adoption of these updates had no material effect on the Company's 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;&lt;b&gt;&lt;u&gt;Recent Accounting pronouncements&lt;/u&gt;:&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;&lt;i&gt;&lt;b&gt;Revenue from Contracts with Customers (&amp;#147;Topic 606&amp;#148;):&lt;/b&gt;&lt;/i&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 each contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in each contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 clarify the following two aspects of Topic 606: (a) identifying performance obligations and (b) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606, including, (i) &amp;#147;Assessing the Collectability 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; (ii) &amp;#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&amp;#148; (iii) &amp;#147;Noncash Consideration,&amp;#148; (iv) &amp;#147;Contract Modifications at Transition,&amp;#148; (v) &amp;#147;Completed Contracts at Transition,&amp;#148; and (vi) &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. In December 2016, the FASB also issued ASU 2016-20, &amp;#147;&lt;i&gt;Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers&lt;/i&gt;.&amp;#148; The amendments in the latest Update 2016-20 represent changes to make minor corrections/improvements to the codification that are not expected to have a significant effect on current accounting practice. 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. The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). ASU 2014-09 is effective for the Company January 1, 2018, and the Company expects to use the modified retrospective approach upon adoption. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company's method of determining proportional performance might change from discharge-to-discharge to load-to-discharge. This will result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. This change will result in revenue being recognized later in the voyage, which may cause additional volatility in revenue and earnings between periods. The Company is in the process of validating aspects of ASU 2014-09, quantifying the effect that the adoption of the ASU 2014-09 will have on its financial statements and accompanying notes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09.&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock 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;&lt;u&gt;Recent Accounting pronouncements&lt;/u&gt;:&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;&lt;i&gt;&lt;b&gt;Revenue from Contracts with Customers (&amp;#147;Topic 606&amp;#148;):&lt;/b&gt;&lt;/i&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 each contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in each contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 clarify the following two aspects of Topic 606: (a) identifying performance obligations and (b) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606, including, (i) &amp;#147;Assessing the Collectability 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; (ii) &amp;#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&amp;#148; (iii) &amp;#147;Noncash Consideration,&amp;#148; (iv) &amp;#147;Contract Modifications at Transition,&amp;#148; (v) &amp;#147;Completed Contracts at Transition,&amp;#148; and (vi) &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. In December 2016, the FASB also issued ASU 2016-20, &amp;#147;&lt;i&gt;Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers&lt;/i&gt;.&amp;#148; The amendments in the latest Update 2016-20 represent changes to make minor corrections/improvements to the codification that are not expected to have a significant effect on current accounting practice. 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. The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). ASU 2014-09 is effective for the Company January 1, 2018, and the Company expects to use the modified retrospective approach upon adoption. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company's method of determining proportional performance might change from discharge-to-discharge to load-to-discharge. This will result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. This change will result in revenue being recognized later in the voyage, which may cause additional volatility in revenue and earnings between periods. The Company is in the process of validating aspects of ASU 2014-09, quantifying the effect that the adoption of the ASU 2014-09 will have on its financial statements and accompanying notes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09.&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <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.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Basis of Presentation and General Information:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;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;#160;(&amp;#147;Star Bulk&amp;#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. &amp;#160;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; &amp;#160;The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &amp;#147;Company,&amp;#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#147;U.S. GAAP&amp;#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &amp;#147;SEC&amp;#148;) for interim financial information. &amp;#160;Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent: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. &amp;#160;Operating results for the six-month period ended June 30, 2017 are not necessarily indicative of the results that might be expected for the fiscal year ending December&amp;#160;31, 2017.&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 split of its issued and outstanding common shares. All share and per share information has been retroactively adjusted to reflect the reverse split.&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, 2016 (the &amp;#147;2016 Annual Report&amp;#148;). &amp;#160;The balance sheet as of December 31, 2016 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;Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2016 Annual Report.&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:BusinessDescriptionAndBasisOfPresentationTextBlock>
  <us-gaap:ScheduleOfInterestRateDerivativesTableTextBlock 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:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="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:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Notional amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&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;Counterparty &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&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;Inception&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&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;Expiry&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:85px;"&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;Fixed Rate &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: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, 2017&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:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7925%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8075%&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2.0675%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;39,240 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8450%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;98,099 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Goldman Sachs &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October 1, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;April 1, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.8025%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;58,860 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH - Star Challenger&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 28, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7650%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,719 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH - Star Fighter &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 30, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September 28, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7650%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,854 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole - Star Borealis&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;November 10, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August 9, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7200%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;21,986 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole - Star Polaris&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August 11, 2014&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:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;November 9, 2018&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1.7050%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;23,132 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:9px;"&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="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align: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="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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;451,088 &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:ScheduleOfInterestRateDerivativesTableTextBlock>
  <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:261px;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="9" style=" border:solid #000000 0.0px;width:450px;"&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:261px;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: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;December 31, 2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="5" 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, 2017&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:261px;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;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" 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:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:261px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&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: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" colspan="2" 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" colspan="3" 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" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Forward freight agreements &amp;#160;- asset position &lt;/font&gt;&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:126px;"&gt;&lt;div style="text-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;41 &lt;/font&gt;&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: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;/font&gt;&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:109px;"&gt;&lt;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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" 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: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;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Total&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:126px;"&gt;&lt;div style="text-align: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;41 &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: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;-&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: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;-&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: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;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:107px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:109px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Forward freight agreements - liability position&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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" colspan="2" 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;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Interest rate swaps - liability position &lt;/font&gt;&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:126px;"&gt;&lt;div style="text-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;2,908 &lt;/font&gt;&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: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;437&lt;/font&gt;&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: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;1,963 &lt;/font&gt;&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: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;241&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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;Total&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:126px;"&gt;&lt;div style="text-align: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;2,908 &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: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;437&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: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;1,963 &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: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;241 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:261px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:122px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:104px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:101px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
  <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: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:141px;"&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;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;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"&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;7.0605 &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:205px;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:74px;"&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:19px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;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="middle" style=" border:solid #000000 0.0px;width:120px;"&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: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:141px;"&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, 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:0.0px;"&gt;&lt;font style="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, 2017&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;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;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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;&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;7.0605 &lt;/b&gt;&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:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <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:416px;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:45px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:194px;"&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:416px;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:45px;"&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: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;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-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:29px;"&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:79px;"&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"&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:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="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:416px;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 financial 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:45px;"&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:67px;"&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:29px;"&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:79px;"&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:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&gt;&lt;div style="text-indent:26.7px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,930)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,642 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&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: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;(2,709)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,542)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:38px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-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: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;&amp;#160;&amp;#160;(42)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:416px;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 financial 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:45px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(4,681)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;100 &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:416px;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:45px;"&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:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:29px;"&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:79px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="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:416px;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:45px;"&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:67px;"&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:29px;"&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:79px;"&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:416px;height:25px;"&gt;&lt;div style="margin-left: 22.2px;text-indent:0.0px;"&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:45px;"&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: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;(667)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:29px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(473)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:45px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(667)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(473)&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:416px;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:45px;"&gt;&lt;div style="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-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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"&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:416px;height:14px;"&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;Gain/(loss) on forward freight agreements&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:416px;height:14px;"&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;Realized gain/(loss) on forward freight agreements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;283 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(500)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"&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;Unrealized gain/(loss) on forward freight agreements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(41)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:416px;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;&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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;283 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(541)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:416px;"&gt;&lt;/td&gt;
    &lt;td style="width:45px;"&gt;&lt;/td&gt;
    &lt;td style="width:67px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:29px;"&gt;&lt;/td&gt;
    &lt;td style="width:79px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
  <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:224px;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:418px;"&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:224px;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:66px;"&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;2018&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&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:55px;"&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:55px;"&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:55px;"&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&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2023 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:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$32,960 &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;$32,960 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(552)&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(552)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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:224px;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;Bareboat commitments charter hire (3) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(56,382)&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,517)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,681)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,646)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,609)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:55px;"&gt;&lt;div style="text-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;(4,570)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(36,359)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(23,974)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;30,891 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,681)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,646)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,609)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"&gt;&lt;div style="text-align: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;(4,570)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ (36,359)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:224px;"&gt;&lt;/td&gt;
    &lt;td style="width:66px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:55px;"&gt;&lt;/td&gt;
    &lt;td style="width:72px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&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:10.7px;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 commissions, 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:10.7px;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;Astakos&lt;/i&gt;. The lease has expired in August 2017.&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:10.7px;color:#000000; "&gt;&amp;#160;(3)&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. &amp;#160;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 1.45%, as of June 30, 2017.&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: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:343px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left: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: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;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:343px;height:7px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div 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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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;&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:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;(1,685)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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: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;&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:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;(133,545)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align: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: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;&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:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:68px;"&gt;&lt;div style="text-align: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;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size: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;3.75 &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:343px;height:8px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&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:343px;height:7px;"&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, 2017&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;385,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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: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;4.82&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-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;944,000 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9.59 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(305,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;4.94 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"&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, 2017&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:68px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,024,000&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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: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;9.18&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:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock>
  <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:276px;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:90px;"&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="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:241px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2016&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" 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: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;2017&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:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(81,696&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" 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: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;(26,229&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:276px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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" 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: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;62,188,645 &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:276px;height:13px;"&gt;&lt;div style="margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:90px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.42)&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:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" colspan="2" 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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"&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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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" colspan="2" 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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;43,880,713 &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" colspan="2" 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;62,188,645 &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:276px;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:90px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left: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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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" 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: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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"&gt;&lt;div style="margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:90px;"&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1.86)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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: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;(0.42)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:276px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:87px;"&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:87px;"&gt;&lt;/td&gt;
    &lt;td style="width:5px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <sblk:InterestFinanceCostsTableTextBlock contextRef="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width: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;2016&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;2017&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;$19,651 &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;$23,008 &lt;/font&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;($2,578)&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;($1,260)&lt;/font&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="margin-left: 12.7px;text-indent:0.0px;"&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 (Note 15)&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;$667 &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;$473 &lt;/font&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;$1,561 &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;$1,288 &lt;/font&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;$393 &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;$257 &lt;/font&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;$19,694 &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;$23,766 &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:353px;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:80px;"&gt;&lt;div style="text-align: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:353px;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;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,532&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;267,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;210,064&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;135,246&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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&lt;/font&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;83,078&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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, 2023 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;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;64,143&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;767,693&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:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,263&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;759,430&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:353px;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;Current portion of long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,532&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:353px;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;Long term debt, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family: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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;751,898&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <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, 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-align: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, 2017&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;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;32,602&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&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;30,102&lt;/font&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;Advances for vessels acquisitions (Note 5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&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: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;1,050&lt;/font&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;25,272&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;10,460&lt;/font&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;&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: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;4,966&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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: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;3,590&lt;/font&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;1,730&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;1,270&lt;/font&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;&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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;64,570&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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;46,472&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, 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;$&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;22,465&lt;/font&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;29,691&lt;/font&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;32,764&lt;/font&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;32,452&lt;/font&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&lt;/font&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;32,500&lt;/font&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, 2023 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;163,218&lt;/font&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;313,090&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;Unamortized deferred finance 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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;37 &lt;/font&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, 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: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;313,053&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;78,217&lt;/font&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;234,836&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;9,120&lt;/font&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;225,716&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:280px;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, 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-align: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:72px;"&gt;&lt;div style="text-align: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, 2017&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:280px;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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="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:280px;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;2,037,737&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,165,892&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:280px;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;1,898&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:280px;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;2,039,635&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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,167,876&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:280px;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;(332,426&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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(370,933&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:280px;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;1,707,209&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 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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,796,943&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, 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-align: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:88px;"&gt;&lt;div style="text-align: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, 2017&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;6,629&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,358&lt;/font&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;7,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,800&lt;/font&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;14,534&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:88px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,158&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:353px;height:10px;"&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;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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: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: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;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:353px;height:23px;"&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:solid #000000 0.0px;width:17px;"&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: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;December 31, 2016&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;June 30, 2017&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:353px;height:10px;"&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;Due from related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;&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:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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;922&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;148 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&gt;&lt;div style="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: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: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Ocean Manning Philipines Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;80&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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;Due from related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;922&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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;228&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:353px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:86px;"&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:353px;height:10px;"&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;Due to related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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: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;&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:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family: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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&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;&amp;#160;&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;26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;3&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sydelle profit sharing agreement &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&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;&amp;#160;&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;323&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;157&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;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;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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;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:353px;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;Due to related parties&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times 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;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;356&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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;334&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-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:101px;"&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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:86px;"&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:353px;height:10px;"&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;div style="text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:101px;"&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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width: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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-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:227px;"&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:353px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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 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: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;2016&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;2017&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:353px;height: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;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(1,650)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;$ &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;(1,650)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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: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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(248)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;&amp;#160;&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;(250)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(75)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&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: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;(72)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"&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: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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &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;(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:353px;height:10px;"&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 - Alma Properties &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
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  <us-gaap:SubsequentEventDescription contextRef="FYp0YTD">a) Loan developments
-   In July 2017, the Company refinanced the Heron Vessels Facility through Tranche B of the ABN AMRO Bank N.V. $30,844 Facility (Note 8).
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  <invest:DerivativeNotionalAmount contextRef="FYp0Qp0e__InterestRateSwap2Member" decimals="-3" unitRef="USD">98099000</invest:DerivativeNotionalAmount>
  <invest:DerivativeNotionalAmount contextRef="FYp0Qp0e__InterestRateSwap1Member" decimals="-3" unitRef="USD">98099000</invest:DerivativeNotionalAmount>
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  <us-gaap:DerivativeInceptionDates contextRef="FYp0YTD__InterestRateSwap9Member">2014-08-11</us-gaap:DerivativeInceptionDates>
  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap8Member">2018-08-09</us-gaap:DerivativeMaturityDates>
  <us-gaap:DerivativeInceptionDates contextRef="FYp0YTD__InterestRateSwap8Member">2014-11-10</us-gaap:DerivativeInceptionDates>
  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap7Member">2018-09-28</us-gaap:DerivativeMaturityDates>
  <us-gaap:DerivativeInceptionDates contextRef="FYp0YTD__InterestRateSwap7Member">2014-09-30</us-gaap:DerivativeInceptionDates>
  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap6Member">2018-09-28</us-gaap:DerivativeMaturityDates>
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  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap5Member">2018-04-01</us-gaap:DerivativeMaturityDates>
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  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap3Member">2018-04-01</us-gaap:DerivativeMaturityDates>
  <us-gaap:DerivativeInceptionDates contextRef="FYp0YTD__InterestRateSwap3Member">2014-10-01</us-gaap:DerivativeInceptionDates>
  <us-gaap:DerivativeMaturityDates contextRef="FYp0YTD__InterestRateSwap2Member">2018-04-01</us-gaap:DerivativeMaturityDates>
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  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap4Member">Goldman Sachs</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap3Member">Goldman Sachs</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap2Member">Goldman Sachs</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap1Member">Goldman Sachs</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap5Member">Goldman Sachs</invest:DerivativeCounterparty>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap9Member" decimals="5" unitRef="purenodecimals">0.01705</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap8Member" decimals="5" unitRef="purenodecimals">0.0172</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap7Member" decimals="5" unitRef="purenodecimals">0.01765</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap6Member" decimals="5" unitRef="purenodecimals">0.01765</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap5Member" decimals="6" unitRef="purenodecimals">0.018025</us-gaap:DerivativeFixedInterestRate>
  <us-gaap:DerivativeFixedInterestRate contextRef="FYp0Qp0e__InterestRateSwap4Member" decimals="5" unitRef="purenodecimals">0.01845</us-gaap:DerivativeFixedInterestRate>
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  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap9Member">Credit Agricole - Star Polaris</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap8Member">Credit Agricole - Star Borealis</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap7Member">HSH - Star Fighter</invest:DerivativeCounterparty>
  <invest:DerivativeCounterparty contextRef="FYp0YTD__InterestRateSwap6Member">HSH - Star Challenger</invest:DerivativeCounterparty>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">36359000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">4570000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">4609000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">4646000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">4681000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">1517000</us-gaap:CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths>
  <us-gaap:ProceedsFromIssuanceOfPrivatePlacement contextRef="d01-01-2017to02-02-2017__PrivatePlacementMember" decimals="-3" unitRef="USD">50554000</us-gaap:ProceedsFromIssuanceOfPrivatePlacement>
  <us-gaap:SharesIssuedPricePerShare contextRef="i02-02-2017__PrivatePlacementMember" decimals="4" unitRef="EPS">8.154</us-gaap:SharesIssuedPricePerShare>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="d01-01-2017to02-02-2017__PrivatePlacementMember__OaktreeAndItsAffiliatesMember" decimals="0" unitRef="Shares">3244292</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="d01-01-2017to02-02-2017__PrivatePlacementMember" decimals="0" unitRef="Shares">6310272</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">64143000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">83078000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">135246000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">210064000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">267630000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths contextRef="FYp0Qp0e__LongTermDebtMember" decimals="-3" unitRef="USD">7532000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths>
  <us-gaap:DebtInstrumentMaturityDate contextRef="FYp0YTD__MediumTermNotesMember">2019-11-30</us-gaap:DebtInstrumentMaturityDate>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__ABNAmroBankFacilityMember__Tranche2Member" decimals="0" unitRef="purenodecimals">17</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:DebtInstrumentCollateral contextRef="FYp0YTD__ABNAmroBankFacilityMember__Tranche2Member">Tranche B is secured by Star Angelina and Star Gwyneth</us-gaap:DebtInstrumentCollateral>
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  <us-gaap:DebtInstrumentMaturityDate contextRef="FYp0YTD__Tranche1Member__ABNAmroBankFacilityMember">2022-06-30</us-gaap:DebtInstrumentMaturityDate>
  <us-gaap:DebtInstrumentMaturityDate contextRef="FYp0YTD__ABNAmroBankFacilityMember__Tranche2Member">2022-06-30</us-gaap:DebtInstrumentMaturityDate>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__ABNAmroBankFacilityMember__Tranche1Member" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:DebtInstrumentFaceAmount contextRef="FYp0Qp0e__ABNAmroBankFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">14844000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentFaceAmount contextRef="FYp0Qp0e__ABNAmroBankFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">16000000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:ProceedsFromIssuanceOfLongTermDebt contextRef="d01-01-2017to07-07-2017__ABNAmroBankFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">14844000</us-gaap:ProceedsFromIssuanceOfLongTermDebt>
  <us-gaap:ProceedsFromIssuanceOfLongTermDebt contextRef="d01-01-2017to27-06-2017__ABNAmroBankFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">16000000</us-gaap:ProceedsFromIssuanceOfLongTermDebt>
  <us-gaap:DebtInstrumentFaceAmount contextRef="FYp0Qp0e__ABNAmroBankFacilityMember" decimals="-3" unitRef="USD">30844000</us-gaap:DebtInstrumentFaceAmount>
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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/20170630/role/VoyageAndVesselOperatingExpenses"
        id="VoyageAndVesselOperatingExpenses">
        <link:definition>101700 - Disclosure - Voyage and Vessel operating expenses</link:definition>
        <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/20170630/role/AccruedLiabilitiesTables"
        id="AccruedLiabilitiesTables">
        <link:definition>301400 - Disclosure - Accrued liabilities (Tables)</link:definition>
        <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/20170630/role/FairValueMeasurementsInterestRateSwapsTableDetails"
        id="FairValueMeasurementsInterestRateSwapsTableDetails">
        <link:definition>401800 - Disclosure - Fair value measurements - Interest rate swaps (Table) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:linkbaseRef xlink:type="simple"
        xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef"
        xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"
        xlink:href="sblk-20170630_lab.xml"
        xlink:title="Label Links, all" />
      <link:linkbaseRef xlink:type="simple"
        xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef"
        xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"
        xlink:href="sblk-20170630_pre.xml"
        xlink:title="Presentation Links, all" />
      <link:linkbaseRef xlink:type="simple"
        xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef"
        xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"
        xlink:href="sblk-20170630_cal.xml"
        xlink:title="Calculation Links, all" />
      <link:linkbaseRef xlink:type="simple"
        xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef"
        xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase"
        xlink:href="sblk-20170630_def.xml"
        xlink:title="Definition Links, all" />
    </appinfo>
  </annotation>
  <import
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    schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <import
    namespace="http://www.xbrl.org/dtr/type/non-numeric"
    schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <import
    namespace="http://www.xbrl.org/dtr/type/numeric"
    schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
  <import
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    schemaLocation="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd" />
  <import
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    schemaLocation="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd" />
  <import
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    schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <import
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    schemaLocation="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd" />
  <import
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    schemaLocation="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd" />
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    name="ABNAmroBankFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="ABNFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="ABYOAudreyMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_ABYOOprahMember"
    name="ABYOOprahMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="AbnAmroBankMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="AboveMarketLeasesIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="AccountsReceivableCollectionPeriod"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="AccruedAuditFeesCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
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    name="AccruedLegalFeesCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
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    name="AccruedLoanInterestAndFinancingFeesCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
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    name="AccruedOperatingAndVoyageExpensesCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_AccruedProfessionalFeesOtherCurrent"
    name="AccruedProfessionalFeesOtherCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
    name="AccumulatedAdvancesForVesselsUnderCapitalLeases"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
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    name="AccumulatedAssetImpairmentCharges"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
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    name="AccumulatedCapitalizedInterestAndFinanceCosts"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
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    name="AccumulatedPreDeliveryYardInstallments"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
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    name="AccumulatedUpfrontHireAndHandlingFees"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    name="AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    name="AdditionalPaymentsToAcquirePropertyPlantEquipment"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
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    name="AddressCommissionPercentage"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_AdvancePaymentForVesselDisposal"
    name="AdvancePaymentForVesselDisposal"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
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    name="AdvancesForSecondhandVessels"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_AdvancesForVesselUnderConstructionMember"
    name="AdvancesForVesselUnderConstructionMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
    name="AdvancesForVesselsAcquisitionsTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_AdvancesForVesselsAcquisitionsTextBlock"
    name="AdvancesForVesselsAcquisitionsTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_AdvancesForVesselsUnderCapitalLeases"
    name="AdvancesForVesselsUnderCapitalLeases"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
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    id="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
    name="AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
    name="AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
    name="AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
    name="AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock"
    name="AdvancesForVesselsUnderConstructionPolicyTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
    name="AfterDe-designationOfAccountingHedgingRelationshipMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AggregateConsiderationTransferredForPurchaseVessels"
    name="AggregateConsiderationTransferredForPurchaseVessels"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
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    id="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
    name="AggregateReductionOfVesselsUnderConstructionPurchasePrice"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_AgreedExtraCostsForNewbuildings"
    name="AgreedExtraCostsForNewbuildings"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_AgreementToAcquireVesselsFutureConsideration"
    name="AgreementToAcquireVesselsFutureConsideration"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
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    id="sblk_AlmaPropertiesMember"
    name="AlmaPropertiesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AmamiIMember"
    name="AmamiIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
    name="AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_AmountDrawnDown"
    name="AmountDrawnDown"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
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    id="sblk_AmountUsedForPrepaymentOfDebt"
    name="AmountUsedForPrepaymentOfDebt"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_ArbitrationProceedingsMember"
    name="ArbitrationProceedingsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AssetsFairValueAdjustmentAccumulated"
    name="AssetsFairValueAdjustmentAccumulated"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_AstakosMember"
    name="AstakosMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_AverageClosingMarketPrice"
    name="AverageClosingMarketPrice"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_BNPCommittedTermSheetMember"
    name="BNPCommittedTermSheetMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_BNPFacilityMember"
    name="BNPFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_BareboatCapitalLeasesMember"
    name="BareboatCapitalLeasesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_BareboatCommitmentsCharterHireMember"
    name="BareboatCommitmentsCharterHireMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_BeforeHedgingDesginationMember"
    name="BeforeHedgingDesginationMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_BehemothBrunoMarksMember"
    name="BehemothBrunoMarksMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BehemothMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BenefialOwnershipOf40OrMoreMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BigBangIMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BigFishIMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BrokerageCommissionPercentage"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="BrunoMarksMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="BunkerInventoryCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    name="BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_BusinessCombinationAdjustmentsMember"
    name="BusinessCombinationAdjustmentsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
    name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_CEXIMFacilityMember"
    name="CEXIMFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_CSSCFirstVesselMember"
    name="CSSCFirstVesselMember"
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    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_LeviathanAndPeloreusMember"
    name="LeviathanAndPeloreusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LeviathanMember"
    name="LeviathanMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
    name="LineOfCreditFacilityNumberOfRepaymentInstallment"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_ListNewbuildingsTableTextBlock"
    name="ListNewbuildingsTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListNonVesselOwningSubsidiaries"
    name="ListNonVesselOwningSubsidiaries"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListOfSubsidiariesTableTextBlock"
    name="ListOfSubsidiariesTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
    name="ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_LitigationSettlementPeriodicPayment"
    name="LitigationSettlementPeriodicPayment"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_LossOffHire"
    name="LossOffHire"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_LowlandsBeilunMember"
    name="LowlandsBeilunMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LubricantsExpense"
    name="LubricantsExpense"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_LubricantsInventoryCurrent"
    name="LubricantsInventoryCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_MackenzieMember"
    name="MackenzieMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MadredeusAndAmamiMember"
    name="MadredeusAndAmamiMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MadredeusIMember"
    name="MadredeusIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MagnumOpusMember"
    name="MagnumOpusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MaharajMember"
    name="MaharajMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MaidenVoyageIMember"
    name="MaidenVoyageIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ManagedVesselsOceanBulkShippingMember"
    name="ManagedVesselsOceanBulkShippingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ManagementFeesTextBlock"
    name="ManagementFeesTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_MartoMember"
    name="MartoMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MaryvilleMaritimeIncMember"
    name="MaryvilleMaritimeIncMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MegalodonMember"
    name="MegalodonMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MercurialVirgoIMember"
    name="MercurialVirgoIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MergerPappasTransaction2Member"
    name="MergerPappasTransaction2Member"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MergerPappasTransactionMember"
    name="MergerPappasTransactionMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MergerPappasTransactionSoceAdjustmentsMember"
    name="MergerPappasTransactionSoceAdjustmentsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MinimumLiquidFundsMember"
    name="MinimumLiquidFundsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MinimumLiquidFundsPerVesselMember"
    name="MinimumLiquidFundsPerVesselMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NIBCFacilityMember"
    name="NIBCFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NetCashProceedsFromCertainAssetSalesMember"
    name="NetCashProceedsFromCertainAssetSalesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
    name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
    name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_NewServicesAgreementMember"
    name="NewServicesAgreementMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewYangzijiangVesselsMember"
    name="NewYangzijiangVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewbuildingVesselsIIMember"
    name="NewbuildingVesselsIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewbuildingVesselsMember"
    name="NewbuildingVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewbuildingsMember"
    name="NewbuildingsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewcastlemaxVesselsMember"
    name="NewcastlemaxVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NonExecutiveDirectorsCompensation"
    name="NonExecutiveDirectorsCompensation"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_NonExecutiveDirectorsMember"
    name="NonExecutiveDirectorsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NoncashEffectsOfDerivativeFinancialInstruments"
    name="NoncashEffectsOfDerivativeFinancialInstruments"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_NumberOfBanks"
    name="NumberOfBanks"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfDirectors"
    name="NumberOfDirectors"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_NumberOfInstallments"
    name="NumberOfInstallments"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfLoanTranches"
    name="NumberOfLoanTranches"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfNewbuildingContracts"
    name="NumberOfNewbuildingContracts"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfNewbuildingContractsTerminated"
    name="NumberOfNewbuildingContractsTerminated"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfVesselFinancedByDebtInstrument"
    name="NumberOfVesselFinancedByDebtInstrument"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfVessels"
    name="NumberOfVessels"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_OaktreeAndItsAffiliatesMember"
    name="OaktreeAndItsAffiliatesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OaktreeMember"
    name="OaktreeMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OaktreeShareholdersAgreementMember"
    name="OaktreeShareholdersAgreementMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ObelixIMember"
    name="ObelixIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkIMember"
    name="OceanbulkIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkMaritimeMember"
    name="OceanbulkMaritimeMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkMaritimeSoceAdjustmentsMember"
    name="OceanbulkMaritimeSoceAdjustmentsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkPappasCompaniesMember"
    name="OceanbulkPappasCompaniesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkSellersMember"
    name="OceanbulkSellersMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OffHireDays"
    name="OffHireDays"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_OfficeRentMember"
    name="OfficeRentMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OperatingVesselsMember"
    name="OperatingVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OperatingVesselsSoldAndDeliveredMember"
    name="OperatingVesselsSoldAndDeliveredMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
    name="OperatingVesselsSoldButNotYetDeliveredMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OtherComprehensiveIncomeLossAbstract"
    name="OtherComprehensiveIncomeLossAbstract"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OtherOperationalGainTextBlock"
    name="OtherOperationalGainTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_OtherOperationalLossTextBlock"
    name="OtherOperationalLossTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_OtherVesselAcquisitionCosts"
    name="OtherVesselAcquisitionCosts"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_PanamaxVesselsMember"
    name="PanamaxVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PantagruelIMember"
    name="PantagruelIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PappasCompaniesMember"
    name="PappasCompaniesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PaymentsForPostemploymentBenefitsShares"
    name="PaymentsForPostemploymentBenefitsShares"
    type="xbrli:sharesItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
    name="PaymentsToAcquireAboveMarketAcquiredTimeCharters"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_PeloreusMember"
    name="PeloreusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PendulumIMember"
    name="PendulumIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
    name="PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_PercentOfQuarterlyInstallmentsDeferred"
    name="PercentOfQuarterlyInstallmentsDeferred"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_PercentageOfEquityUsedForAcquisition"
    name="PercentageOfEquityUsedForAcquisition"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_PercentageOfFutureProceedsSold"
    name="PercentageOfFutureProceedsSold"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_PeriodicPaymentsDeferredAmount"
    name="PeriodicPaymentsDeferredAmount"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_PiraeusBankS.A.TermLoanBMember"
    name="PiraeusBankS.A.TermLoanBMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PiraeusBankS.A.TermLoanMember"
    name="PiraeusBankS.A.TermLoanMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PiraeusBankS.A.TermLoansMember"
    name="PiraeusBankS.A.TermLoansMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PoolAgreementMember"
    name="PoolAgreementMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PortCharges"
    name="PortCharges"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
    name="PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"
    name="ProceedsFromCancellationOfVesselsUnderConstruction"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_ProceedsReceivedOnTransferClaim"
    name="ProceedsReceivedOnTransferClaim"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_ProcurementServicesDailyFee"
    name="ProcurementServicesDailyFee"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ProductShippingTradingMember"
    name="ProductShippingTradingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PurchasePriceObligation"
    name="PurchasePriceObligation"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_RealizedGainLossOnForwardFreightAgreements"
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    name="StarNicoleMember"
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    name="VesselsAndAdvancesForVesselsUnderConstructionNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsAndOtherFixedAssetsNet"
    name="VesselsAndOtherFixedAssetsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsDelivered"
    name="VesselsDelivered"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_VesselsHeldForSalePolicyTextBlock"
    name="VesselsHeldForSalePolicyTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsInOperationIIMember"
    name="VesselsInOperationIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsInOperationsMember"
    name="VesselsInOperationsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsNet"
    name="VesselsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsNetMember"
    name="VesselsNetMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalesAgreementsMember"
    name="VesselsSalesAgreementsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalesMember"
    name="VesselsSalesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalvageValuePerLightWeightTon"
    name="VesselsSalvageValuePerLightWeightTon"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsSold"
    name="VesselsSold"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_VesselsSubsequentlyRecognizedAsHeldForSale"
    name="VesselsSubsequentlyRecognizedAsHeldForSale"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsUnderConstructionMember"
    name="VesselsUnderConstructionMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VoyageExpenses"
    name="VoyageExpenses"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VoyageExpensesTableTextBlock"
    name="VoyageExpensesTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VoyageRevenues"
    name="VoyageRevenues"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_VoyageVesselOperatingExpensesTextBlock"
    name="VoyageVesselOperatingExpensesTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_WolverineMember"
    name="WolverineMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
    name="WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
    name="WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>5
<FILENAME>sblk-20170630_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
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  <roleRef xlink:type="simple"
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  <roleRef xlink:type="simple"
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    <calculationArc xlink:type="arc"
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      use="optional" />
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>6
<FILENAME>sblk-20170630_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
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      xlink:label="dei_DocumentType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Document Type</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityCentralIndexKey"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityCentralIndexKey"
      xlink:to="dei_EntityCentralIndexKey_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityCentralIndexKey_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityCommonStockSharesOutstanding"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityCommonStockSharesOutstanding"
      xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityCommonStockSharesOutstanding_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Common Stock Shares Outstanding</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityCurrentReportingStatus"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityCurrentReportingStatus"
      xlink:to="dei_EntityCurrentReportingStatus_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityCurrentReportingStatus_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Current Reporting Status</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityDomain"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityDomain_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityFilerCategory"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityFilerCategory_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Filer Category</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityIncorporationDateOfIncorporation"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityIncorporationDateOfIncorporation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityIncorporationDateOfIncorporation"
      xlink:to="dei_EntityIncorporationDateOfIncorporation_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityIncorporationDateOfIncorporation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation Date Of Incorporation</label>
    <label xlink:type="resource"
      xlink:label="dei_EntityIncorporationDateOfIncorporation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of Incorporation</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityRegistrantName"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityRegistrantName"
      xlink:to="dei_EntityRegistrantName_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityRegistrantName_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Enity Registrant Name</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityVoluntaryFilers"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityVoluntaryFilers"
      xlink:to="dei_EntityVoluntaryFilers_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityVoluntaryFilers_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Voluntary Filers</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityWellKnownSeasonedIssuer"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityWellKnownSeasonedIssuer"
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    <label xlink:type="resource"
      xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Well Known Seasoned Issuer</label>
    <loc xlink:type="locator"
      xlink:label="dei_LegalEntityAxis"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_LegalEntityAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Entity [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="dei_TradingSymbol"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</label>
    <loc xlink:type="locator"
      xlink:label="invest_DerivativeCounterparty"
      xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeCounterparty" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="invest_DerivativeCounterparty"
      xlink:to="invest_DerivativeCounterparty_lbl" />
    <label xlink:type="resource"
      xlink:label="invest_DerivativeCounterparty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Counterparty</label>
    <label xlink:type="resource"
      xlink:label="invest_DerivativeCounterparty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparty</label>
    <loc xlink:type="locator"
      xlink:label="invest_DerivativeNotionalAmount"
      xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNotionalAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="invest_DerivativeNotionalAmount"
      xlink:to="invest_DerivativeNotionalAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="invest_DerivativeNotionalAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Notional Amount</label>
    <label xlink:type="resource"
      xlink:label="invest_DerivativeNotionalAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notional amount</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABNAmroBankFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_ABNAmroBankFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABNAmroBankFacilityMember"
      xlink:to="sblk_ABNAmroBankFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABNAmroBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABN Amro Bank Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABNAmroBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABN Amro Bank $30,844 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABNFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_ABNFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABNFacilityMember" xlink:to="sblk_ABNFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility ABN $87,458.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABN Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABN $87,458 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABYOAudreyMember"
      xlink:href="sblk-20170630.xsd#sblk_ABYOAudreyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABYOAudreyMember" xlink:to="sblk_ABYOAudreyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABYOAudreyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABYO Audrey [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABYOAudreyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABYO Audrey</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABYOOprahMember"
      xlink:href="sblk-20170630.xsd#sblk_ABYOOprahMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABYOOprahMember" xlink:to="sblk_ABYOOprahMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABYOOprahMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABYO Oprah [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABYOOprahMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABYO Oprah</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AbnAmroBankMember"
      xlink:href="sblk-20170630.xsd#sblk_AbnAmroBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AbnAmroBankMember" xlink:to="sblk_AbnAmroBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility ABN Amro Bank N.V. $31,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Abn Amro Bank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABN Amro Bank N.V. $31,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AboveMarketLeasesIIMember"
      xlink:href="sblk-20170630.xsd#sblk_AboveMarketLeasesIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AboveMarketLeasesIIMember"
      xlink:to="sblk_AboveMarketLeasesIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Leases acquired at above market lease rates.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Above Market Leases II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Above market time charters</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccountsReceivableCollectionPeriod"
      xlink:href="sblk-20170630.xsd#sblk_AccountsReceivableCollectionPeriod" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccountsReceivableCollectionPeriod"
      xlink:to="sblk_AccountsReceivableCollectionPeriod_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Period over which a receivable is collected, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts Receivable Collection Period</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Collection period</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedAuditFeesCurrent"
      xlink:href="sblk-20170630.xsd#sblk_AccruedAuditFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedAuditFeesCurrent"
      xlink:to="sblk_AccruedAuditFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Audit Fees Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Audit fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedLegalFeesCurrent"
      xlink:href="sblk-20170630.xsd#sblk_AccruedLegalFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedLegalFeesCurrent"
      xlink:to="sblk_AccruedLegalFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for legal services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Legal Fees Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent"
      xlink:href="sblk-20170630.xsd#sblk_AccruedLoanInterestAndFinancingFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedLoanInterestAndFinancingFeesCurrent"
      xlink:to="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for loan interest and financing fees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Loan Interest And Financing Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan interest and financing fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent"
      xlink:href="sblk-20170630.xsd#sblk_AccruedOperatingAndVoyageExpensesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedOperatingAndVoyageExpensesCurrent"
      xlink:to="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for operating and voyage expenses. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Operating And Voyage Expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating and voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent"
      xlink:href="sblk-20170630.xsd#sblk_AccruedProfessionalFeesOtherCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedProfessionalFeesOtherCurrent"
      xlink:to="sblk_AccruedProfessionalFeesOtherCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for other professional fees, excluding legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Professional Fees Other Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other professional fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
      xlink:href="sblk-20170630.xsd#sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
      xlink:to="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of advances related with the acquisition of vessels, bareboats, etc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges"
      xlink:href="sblk-20170630.xsd#sblk_AccumulatedAssetImpairmentCharges" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedAssetImpairmentCharges"
      xlink:to="sblk_AccumulatedAssetImpairmentCharges_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Asset Impairment Charges</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Impairment charge</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts"
      xlink:href="sblk-20170630.xsd#sblk_AccumulatedCapitalizedInterestAndFinanceCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedCapitalizedInterestAndFinanceCosts"
      xlink:to="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of accumulated interest and finance costs as part of vessels under construction and acquisitions cost basis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Capitalized Interest And Finance Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capitalized interest and finance costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments"
      xlink:href="sblk-20170630.xsd#sblk_AccumulatedPreDeliveryYardInstallments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedPreDeliveryYardInstallments"
      xlink:to="sblk_AccumulatedPreDeliveryYardInstallments_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of pre-delivery installments to the yard, for vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Pre Delivery Yard Installments</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery yard installments and Fair value adjustment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees"
      xlink:href="sblk-20170630.xsd#sblk_AccumulatedUpfrontHireAndHandlingFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedUpfrontHireAndHandlingFees"
      xlink:to="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of upfront hire &amp; handling fees for vessels under capital leases.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Upfront Hire And Handling Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution"
      xlink:href="sblk-20170630.xsd#sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution"
      xlink:to="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum percentage of acquisition costs that will be financed by a financial institution.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Acquisition Costs Percentage Financed By Financial Institution</label>
    <label xlink:type="resource"
      xlink:label="sblk_AcquisitionCostsMaximumPercentageFinancedByFinancialInstitution_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Acquistition costs, Maximum percentage that will be financed by a financial institution</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment"
      xlink:href="sblk-20170630.xsd#sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment"
      xlink:to="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The additional cash outflow  associated with the acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Additional Payments To Acquire Property Plant And Equipment</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additional payments to acquire property plant and equipment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AddressCommissionPercentage"
      xlink:href="sblk-20170630.xsd#sblk_AddressCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AddressCommissionPercentage"
      xlink:to="sblk_AddressCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commission payable by the shipowner to the charterer, expressed as a percentage of the freight or hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Address Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Address commission</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancePaymentForVesselDisposal"
      xlink:href="sblk-20170630.xsd#sblk_AdvancePaymentForVesselDisposal" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancePaymentForVesselDisposal"
      xlink:to="sblk_AdvancePaymentForVesselDisposal_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of advance payment for vessel disposal.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advance Payment For Vessel Disposal</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances from sale of vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Advances from sale of vessel (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForSecondhandVessels"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForSecondhandVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForSecondhandVessels"
      xlink:to="sblk_AdvancesForSecondhandVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Discloses the period end balance amount of advances for Secondhand vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Secondhand Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels acquisitions (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselUnderConstructionMember"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselUnderConstructionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselUnderConstructionMember"
      xlink:to="sblk_AdvancesForVesselUnderConstructionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessel Under Construction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsAcquisitionsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
      xlink:to="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for advances paid to yard and capitalized expenses for the acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Acquisitions [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsAcquisitionsTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsAcquisitionsTextBlock"
      xlink:to="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for advances paid to yards and capitalized expenses for acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Acquisitions [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsUnderCapitalLeases" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderCapitalLeases"
      xlink:to="sblk_AdvancesForVesselsUnderCapitalLeases_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash outflow associated with the acquisition of vessels, bareboats, etc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances for vessels under construction and acquisition of vessels and other assets [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances for vessels under construction and acquisition of vessels [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Advances for vessels under construction and acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction And Acquisition Of Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
      xlink:href="sblk-20170630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The value of vessels under construction delivered in the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction And Acquisition Of Vessels Vessels Delivered</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for advances for vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
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    <label xlink:type="resource"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">After De-designation Of Accounting Hedging Relationship [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">After de-designation of accounting hedging relationship (April 1, 2015)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels"
      xlink:href="sblk-20170630.xsd#sblk_AggregateConsiderationTransferredForPurchaseVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AggregateConsiderationTransferredForPurchaseVessels"
      xlink:to="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregate consideration transferred for the purchase of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Aggregate Consideration Transferred For Purchase Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contracted purchase price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
      xlink:href="sblk-20170630.xsd#sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
      xlink:to="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The aggregate reduction of the purchase price of vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Aggregate Reduction Of Vessels Under Construction Purchase Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregate reduction of the purchase price of certain of the newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings"
      xlink:href="sblk-20170630.xsd#sblk_AgreedExtraCostsForNewbuildings" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AgreedExtraCostsForNewbuildings"
      xlink:to="sblk_AgreedExtraCostsForNewbuildings_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of agreed extra costs for newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Agreed Extra Costs For Newbuildings</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreed extra costs for newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AgreementToAcquireVesselsFutureConsideration"
      xlink:href="sblk-20170630.xsd#sblk_AgreementToAcquireVesselsFutureConsideration" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AgreementToAcquireVesselsFutureConsideration"
      xlink:to="sblk_AgreementToAcquireVesselsFutureConsideration_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AgreementToAcquireVesselsFutureConsideration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The aggregate total consideration to acquire vessels as defined in the relevant agreements.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreementToAcquireVesselsFutureConsideration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Agreement To Acquire Vessels Future Consideration</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreementToAcquireVesselsFutureConsideration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreement to acquire vessels, Future consideration</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AlmaPropertiesMember"
      xlink:href="sblk-20170630.xsd#sblk_AlmaPropertiesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AlmaPropertiesMember"
      xlink:to="sblk_AlmaPropertiesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AlmaPropertiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Alma Properties [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AlmaPropertiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Alma Properties</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmamiIMember"
      xlink:href="sblk-20170630.xsd#sblk_AmamiIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmamiIMember" xlink:to="sblk_AmamiIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Amami.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amami I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amami</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20170630.xsd#sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amortization of the asset arising from the market value of the time charter assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amortization Of Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Amortization</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmountDrawnDown"
      xlink:href="sblk-20170630.xsd#sblk_AmountDrawnDown" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmountDrawnDown" xlink:to="sblk_AmountDrawnDown_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of loan that has been drawn down.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amount Drawn Down</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount drawn down</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt"
      xlink:href="sblk-20170630.xsd#sblk_AmountUsedForPrepaymentOfDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmountUsedForPrepaymentOfDebt"
      xlink:to="sblk_AmountUsedForPrepaymentOfDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of cash outflow for prepayment of an obligation from a lender.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amount Used For Prepayment Of Debt</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepayments of lines of credit</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ArbitrationProceedingsMember"
      xlink:href="sblk-20170630.xsd#sblk_ArbitrationProceedingsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ArbitrationProceedingsMember"
      xlink:to="sblk_ArbitrationProceedingsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ArbitrationProceedingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Arbitration Proceedings [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ArbitrationProceedingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Arbitration proceedings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated"
      xlink:href="sblk-20170630.xsd#sblk_AssetsFairValueAdjustmentAccumulated" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AssetsFairValueAdjustmentAccumulated"
      xlink:to="sblk_AssetsFairValueAdjustmentAccumulated_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of addition (reduction) to the amount at which an asset could be incurred (settled) at the time of acquisition between willing parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Assets Fair Value Adjustment Accumulated</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value adjustment</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value adjustment (Notes 1 and 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AstakosMember"
      xlink:href="sblk-20170630.xsd#sblk_AstakosMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AstakosMember" xlink:to="sblk_AstakosMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Astakos.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Astakos [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Astakos</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AverageClosingMarketPrice"
      xlink:href="sblk-20170630.xsd#sblk_AverageClosingMarketPrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AverageClosingMarketPrice"
      xlink:to="sblk_AverageClosingMarketPrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The average closing market price as determined over a period of time.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Average Closing Market Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average closing market price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPCommittedTermSheetMember"
      xlink:href="sblk-20170630.xsd#sblk_BNPCommittedTermSheetMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BNPCommittedTermSheetMember"
      xlink:to="sblk_BNPCommittedTermSheetMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The commited term sheet with the bank BNP Paribas.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">BNP Committed Term Sheet [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">BNP $39,500 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_BNPFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BNPFacilityMember" xlink:to="sblk_BNPFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility BNP $32,480.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">BNP Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">BNP $32,480 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BareboatCapitalLeasesMember"
      xlink:href="sblk-20170630.xsd#sblk_BareboatCapitalLeasesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BareboatCapitalLeasesMember"
      xlink:to="sblk_BareboatCapitalLeasesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The bareboat capital leases - upfront hire &amp; handling fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bareboat Capital Leases [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees (3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember"
      xlink:href="sblk-20170630.xsd#sblk_BareboatCommitmentsCharterHireMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BareboatCommitmentsCharterHireMember"
      xlink:to="sblk_BareboatCommitmentsCharterHireMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The bareboat commitments charter hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bareboat Commitments Charter Hire [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat commitments charter hire (3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeforeHedgingDesginationMember"
      xlink:href="sblk-20170630.xsd#sblk_BeforeHedgingDesginationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeforeHedgingDesginationMember"
      xlink:to="sblk_BeforeHedgingDesginationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeforeHedgingDesginationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Before Hedging Desgination [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeforeHedgingDesginationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Before hedging designation (August 31, 2014)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BehemothBrunoMarksMember"
      xlink:href="sblk-20170630.xsd#sblk_BehemothBrunoMarksMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BehemothBrunoMarksMember"
      xlink:to="sblk_BehemothBrunoMarksMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BehemothBrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Behemoth And Bruno Marks [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BehemothBrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Behemoth and Bruno Marks</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BehemothMember"
      xlink:href="sblk-20170630.xsd#sblk_BehemothMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BehemothMember" xlink:to="sblk_BehemothMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BehemothMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Behemoth [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BehemothMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Behemoth</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember"
      xlink:href="sblk-20170630.xsd#sblk_BenefialOwnershipOf40OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BenefialOwnershipOf40OrMoreMember"
      xlink:to="sblk_BenefialOwnershipOf40OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 40% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership Of 40% Or More</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember"
      xlink:href="sblk-20170630.xsd#sblk_BeneficialOwnershipOf15OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf15OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf15OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 15% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 15% but less than 25%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember"
      xlink:href="sblk-20170630.xsd#sblk_BeneficialOwnershipOf25OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf25OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf25OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 25% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 25% but less than 40%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember"
      xlink:href="sblk-20170630.xsd#sblk_BeneficialOwnershipOf5OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf5OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf5OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 5% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 5% but less than 15%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BigBangIMember"
      xlink:href="sblk-20170630.xsd#sblk_BigBangIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BigBangIMember" xlink:to="sblk_BigBangIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Big Bang.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Big Bang I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Big Bang</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BigFishIMember"
      xlink:href="sblk-20170630.xsd#sblk_BigFishIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BigFishIMember" xlink:to="sblk_BigFishIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Big Fish.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Big Fish I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Big Fish</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BrokerageCommissionPercentage"
      xlink:href="sblk-20170630.xsd#sblk_BrokerageCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BrokerageCommissionPercentage"
      xlink:to="sblk_BrokerageCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The commission charged by brokers, as a percentage of the agreed price.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Brokerage Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Brokerage commission</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BrunoMarksMember"
      xlink:href="sblk-20170630.xsd#sblk_BrunoMarksMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BrunoMarksMember" xlink:to="sblk_BrunoMarksMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bruno Marks [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bruno Marks</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BunkerInventoryCurrent"
      xlink:href="sblk-20170630.xsd#sblk_BunkerInventoryCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BunkerInventoryCurrent"
      xlink:to="sblk_BunkerInventoryCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying amount as of the balance sheet date of bunker's inventory.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bunker Inventory Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bunkers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"
      xlink:href="sblk-20170630.xsd#sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"
      xlink:to="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The pro forma basic and diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Acquisition Pro Forma Earnings Per Share Basic And Diluted</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pro forma loss per share, basic and diluted</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationAdjustmentsMember"
      xlink:to="sblk_BusinessCombinationAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Business combination adjustments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of structure or a modification to a structure under construction, acquired at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Construction In Progress Gross</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessel acquisition and vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of liabilities due within one year or within the normal operating cycle, if longer, assumed at the acquisition date, excluding current portion of long term bank debt and derivative financial liabilities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Excluding Current Portion Of Long Term Bank Debt And Derivative Financial Liabilites</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The asset arising from the above market value of the time charter contract assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of above market acquired charters</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of long-term debt, assumed at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Long Term Debt</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term debt, including current portion</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Long term debt assumed after business combination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of restricetd cash acquired at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Restricted Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
      xlink:href="sblk-20170630.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents vessels net of accumulated depreciation recognized as of the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired Liabilities Assumed Vessels Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CEXIMFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_CEXIMFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CEXIMFacilityMember"
      xlink:to="sblk_CEXIMFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility CEXIM $57,360.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CEXIM Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CEXIM $57,360 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCFirstVesselMember"
      xlink:href="sblk-20170630.xsd#sblk_CSSCFirstVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCFirstVesselMember"
      xlink:to="sblk_CSSCFirstVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The First CSSC Vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC First Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC First Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCSecondVesselMember"
      xlink:href="sblk-20170630.xsd#sblk_CSSCSecondVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCSecondVesselMember"
      xlink:to="sblk_CSSCSecondVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Second CSSC Vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC Second Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC Second Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_CSSCVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCVesselsMember" xlink:to="sblk_CSSCVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The CSSC Vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CapesizeVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_CapesizeVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CapesizeVesselsMember"
      xlink:to="sblk_CapesizeVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Capesize vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capesize Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capesize vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CapitalizedCostsOther"
      xlink:href="sblk-20170630.xsd#sblk_CapitalizedCostsOther" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CapitalizedCostsOther"
      xlink:to="sblk_CapitalizedCostsOther_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of accumulated other capitalized costs for vessels under construction and acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capitalized Costs Other</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other capitalized costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CashCollateralForPollutionRelease"
      xlink:href="sblk-20170630.xsd#sblk_CashCollateralForPollutionRelease" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CashCollateralForPollutionRelease"
      xlink:to="sblk_CashCollateralForPollutionRelease_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Cash collateral for environmental polution released after being covered by Protection and Idemnity (P&amp;I) Club insurance.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cash Collateral For Pollution Release</label>
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash collateral for pollution release</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CertainChangesOfControlEventsMember"
      xlink:href="sblk-20170630.xsd#sblk_CertainChangesOfControlEventsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CertainChangesOfControlEventsMember"
      xlink:to="sblk_CertainChangesOfControlEventsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CertainChangesOfControlEventsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Certain Changes Of Control Events [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CertainChangesOfControlEventsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Certain changes of control events</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CertainEventsOfDefaultMember"
      xlink:href="sblk-20170630.xsd#sblk_CertainEventsOfDefaultMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CertainEventsOfDefaultMember"
      xlink:to="sblk_CertainEventsOfDefaultMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CertainEventsOfDefaultMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Certain Events Of Default [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CertainEventsOfDefaultMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Certain events of default</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer1Member"
      xlink:href="sblk-20170630.xsd#sblk_Charterer1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer1Member" xlink:to="sblk_Charterer1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer2Member"
      xlink:href="sblk-20170630.xsd#sblk_Charterer2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer2Member" xlink:to="sblk_Charterer2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer3Member"
      xlink:href="sblk-20170630.xsd#sblk_Charterer3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer3Member" xlink:to="sblk_Charterer3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer C</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer4Member"
      xlink:href="sblk-20170630.xsd#sblk_Charterer4Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer4Member" xlink:to="sblk_Charterer4Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 4 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer D</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember"
      xlink:href="sblk-20170630.xsd#sblk_ChiefExecutiveOfficerFirstInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChiefExecutiveOfficerFirstInstallmentMember"
      xlink:to="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first installment to the Company's former Chief Executive Officer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Chief Executive Officer First Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First Installment CEO</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineMember"
      xlink:href="sblk-20170630.xsd#sblk_ChristineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineMember" xlink:to="sblk_ChristineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Christine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine (tbr Star Martha)</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Martha</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember"
      xlink:href="sblk-20170630.xsd#sblk_ChristineSandraAndLowlandsBeilunMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineSandraAndLowlandsBeilunMember"
      xlink:to="sblk_ChristineSandraAndLowlandsBeilunMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine Sandra And Lowlands Beilun [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine, Sandra and Lowlands Beilun</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineShipcoLLCMember"
      xlink:href="sblk-20170630.xsd#sblk_ChristineShipcoLLCMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineShipcoLLCMember"
      xlink:to="sblk_ChristineShipcoLLCMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Christine Shipco LLC.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine Shipco LLC [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine Shipco LLC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CitiFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_CitiFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CitiFacilityMember" xlink:to="sblk_CitiFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CitiFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Citi Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CitiFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Citi Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ClaimReceivableWriteOffs"
      xlink:href="sblk-20170630.xsd#sblk_ClaimReceivableWriteOffs" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ClaimReceivableWriteOffs"
      xlink:to="sblk_ClaimReceivableWriteOffs_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ClaimReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of write-downs of claim receivable.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ClaimReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Claim Receivable Write Offs</label>
    <label xlink:type="resource"
      xlink:label="sblk_ClaimReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write-off of claim receivable</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CombineMarineLtdMember"
      xlink:href="sblk-20170630.xsd#sblk_CombineMarineLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CombineMarineLtdMember"
      xlink:to="sblk_CombineMarineLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Combine Marine Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Combine Marine Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Combine Marine Ltd</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Combine Marine Ltd.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommercialClaimMember"
      xlink:href="sblk-20170630.xsd#sblk_CommercialClaimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommercialClaimMember"
      xlink:to="sblk_CommercialClaimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommercialClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commercial Claim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommercialClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commercial claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember"
      xlink:href="sblk-20170630.xsd#sblk_Commerzbank12000026000FacilitiesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Commerzbank12000026000FacilitiesMember"
      xlink:to="sblk_Commerzbank12000026000FacilitiesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facilities Commerzbank $120,000 and $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank $120000 And $26000 Facilities [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAg120000FacilitiyMember"
      xlink:href="sblk-20170630.xsd#sblk_CommerzbankAg120000FacilitiyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAg120000FacilitiyMember"
      xlink:to="sblk_CommerzbankAg120000FacilitiyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg120000FacilitiyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag 120000 Facilitiy [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg120000FacilitiyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 Facilitiy</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAg26000FacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_CommerzbankAg26000FacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAg26000FacilityMember"
      xlink:to="sblk_CommerzbankAg26000FacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag 26000 Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $26000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_CommerzbankAgAggregateFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilityMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The restructuring agreement for the credit facilities Commerzbank $120,000 and $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities - Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember"
      xlink:href="sblk-20170630.xsd#sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility Second Supplemental [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities - Second Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember"
      xlink:href="sblk-20170630.xsd#sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility Third Supplemental [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities - Third Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommisionsOnSaleOfAssets"
      xlink:href="sblk-20170630.xsd#sblk_CommisionsOnSaleOfAssets" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommisionsOnSaleOfAssets"
      xlink:to="sblk_CommisionsOnSaleOfAssets_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commisions on sale of assets.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commisions On Sale Of Assets</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Commission on sale of vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor"
      xlink:href="sblk-20170630.xsd#sblk_ConstructionCostPerVesselFinancedByLessor" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConstructionCostPerVesselFinancedByLessor"
      xlink:to="sblk_ConstructionCostPerVesselFinancedByLessor_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of construction costs per vessel financed by the lessor.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Construction Cost Per Vessel Financed By Lessor</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Construction cost per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConstructionCostPerVessel"
      xlink:href="sblk-20170630.xsd#sblk_ConstructionCostPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConstructionCostPerVessel"
      xlink:to="sblk_ConstructionCostPerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of construction costs per vessel financed by the relevant shipyard company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Construction Cost Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Construction cost per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConsultancyAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_ConsultancyAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConsultancyAgreementsMember"
      xlink:to="sblk_ConsultancyAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting agreements with related parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consultancy Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consultancy agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember"
      xlink:href="sblk-20170630.xsd#sblk_ConsultingAgreementsFollowingCompletionOfMergerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember"
      xlink:to="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consulting Agreements Following Completion Of Merger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consulting agreements following the completion of the merger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ContractualObligationDue"
      xlink:href="sblk-20170630.xsd#sblk_ContractualObligationDue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ContractualObligationDue"
      xlink:to="sblk_ContractualObligationDue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of contractual obligation for the construction of newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due</label>
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted"
      xlink:href="sblk-20170630.xsd#sblk_ConversionOfReceivablePercentageOfAmountConverted" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConversionOfReceivablePercentageOfAmountConverted"
      xlink:to="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount converted into shares in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Conversion Of Receivable, Percentage Of Amount Converted</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount converted into shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash"
      xlink:href="sblk-20170630.xsd#sblk_ConversionOfReceivablePercentageOfAmountPaidInCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash"
      xlink:to="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Conversion Of Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount paid in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds"
      xlink:href="sblk-20170630.xsd#sblk_CovenantObligationMinimumLiquidFunds" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CovenantObligationMinimumLiquidFunds"
      xlink:to="sblk_CovenantObligationMinimumLiquidFunds_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Minimum liquid funds for the company to be allowed to pay dividends.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Covenant Obligation Minimum Liquid Funds</label>
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquid funds to be allowed to pay dividends</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember"
      xlink:href="sblk-20170630.xsd#sblk_CreditAgricoleCorporateAndInvestmentBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CreditAgricoleCorporateAndInvestmentBankMember"
      xlink:to="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Credit Agricole Corporate and Investment Bank $70,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Credit Agricole Corporate And Investment Bank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Agricole Corporate and Investment Bank (Loan agreement dated January 20, 2011)</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Credit Agricole Corporate and Investment Bank $70,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CreditAgricoleSwapsMember"
      xlink:href="sblk-20170630.xsd#sblk_CreditAgricoleSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CreditAgricoleSwapsMember"
      xlink:to="sblk_CreditAgricoleSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Credit Agricole and HSH Nordbank Swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Credit Agricole Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Agricole and the HSH Swaps before hedging designation (August, 31 2014)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CrossCollateralBareboatVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_CrossCollateralBareboatVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CrossCollateralBareboatVesselsMember"
      xlink:to="sblk_CrossCollateralBareboatVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CrossCollateralBareboatVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cross Collateral Bareboat Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CrossCollateralBareboatVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cross collateral, Bareboat vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CyprusMember"
      xlink:href="sblk-20170630.xsd#sblk_CyprusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CyprusMember" xlink:to="sblk_CyprusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CyprusMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cyprus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CyprusMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cyprus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DNB-SEB-CEXIMFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DNB-SEB-CEXIMFacilityMember"
      xlink:to="sblk_DNB-SEB-CEXIMFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility DNB-SEB-CEXIM $227,500.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DNB - SEB - CEXIM Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DNB-SEB-CEXIM $227,500 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DNBFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DNBFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DNBFacilityMember" xlink:to="sblk_DNBFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DNBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DNB Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DNB $120,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DVBDeepBlueFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DVBDeepBlueFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DVBDeepBlueFacilityMember"
      xlink:to="sblk_DVBDeepBlueFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility DVB $31,000 Deep Blue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DVB Deep Blue Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DVB $31,000 Deep Blue Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">DVB $31,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DVBFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DVBFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DVBFacilityMember" xlink:to="sblk_DVBFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DVBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DVB Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DVB $24,750 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DailyManagementFee"
      xlink:href="sblk-20170630.xsd#sblk_DailyManagementFee" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DailyManagementFee" xlink:to="sblk_DailyManagementFee_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fee rate charged daily, persuant to the management agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Daily Management Fee</label>
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daily fixed management fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised"
      xlink:href="sblk-20170630.xsd#sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised"
      xlink:to="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">States the amount of equity that the company is obliged to raise under the debt instrument covenants.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Covenant Amount Of Equity To Be Raised</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount of equity to be raised under debt instrument covenants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount"
      xlink:href="sblk-20170630.xsd#sblk_DebtInstrumentPrepaymentAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentPrepaymentAmount"
      xlink:to="sblk_DebtInstrumentPrepaymentAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of debt prepaid.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Prepayment Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepayment amount</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld"
      xlink:href="sblk-20170630.xsd#sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld"
      xlink:to="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The threshold percentage of the principal amount that either the trustee or the debt holders should have in order to declare the redemption of the entire principal amount.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Redemption, Threshold Percentage Of Principal Amount Held</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentRedemptionThresholdPercentageOfPrincipalAmountHeld_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Threshold percentage of principal amount held by either the trustee or the holders</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage"
      xlink:href="sblk-20170630.xsd#sblk_DebtInstrumentWaiverFeePercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentWaiverFeePercentage"
      xlink:to="sblk_DebtInstrumentWaiverFeePercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fee expressed as a percentage of the outstanding loan balance.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Waiver Fee Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Waiver fee percentage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock"
      xlink:to="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for debt modifications and extinguishments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Modifications And Extinguishments [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtModificationsAndExtinguishmentsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt Modifications and extinguishments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeepBlueMember"
      xlink:href="sblk-20170630.xsd#sblk_DeepBlueMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeepBlueMember" xlink:to="sblk_DeepBlueMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Deep Blue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deep Blue [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deep Blue</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DefiniteAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_DefiniteAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DefiniteAgreementsMember"
      xlink:to="sblk_DefiniteAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Definite Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Definite agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeliveryDateVessel"
      xlink:href="sblk-20170630.xsd#sblk_DeliveryDateVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeliveryDateVessel" xlink:to="sblk_DeliveryDateVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The date of the vessel delivery to the Company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Delivery date</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date Delivered to Star Bulk</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expected Delivery Date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeutscheBankFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DeutscheBankFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeutscheBankFacilityMember"
      xlink:to="sblk_DeutscheBankFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Deutsche Bank $85,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deutsche Bank Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deutsche Bank $85,000 Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Deutsche Bank AG $85,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeutscheBankMember"
      xlink:href="sblk-20170630.xsd#sblk_DeutscheBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeutscheBankMember" xlink:to="sblk_DeutscheBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Deutsche Bank AG $39,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DeutscheBank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deutsche Bank AG $39,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DiorigaFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_DiorigaFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DiorigaFacilityMember"
      xlink:to="sblk_DiorigaFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSBC $20,000 Dioriga.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Dioriga Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSBC $20,000 Dioriga Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DirectorsMember"
      xlink:href="sblk-20170630.xsd#sblk_DirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DirectorsMember" xlink:to="sblk_DirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The directors of the company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DirectorsOfficersMember"
      xlink:href="sblk-20170630.xsd#sblk_DirectorsOfficersMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DirectorsOfficersMember"
      xlink:to="sblk_DirectorsOfficersMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsOfficersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Directors And Officers [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsOfficersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Directors and officers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DivaMember"
      xlink:href="sblk-20170630.xsd#sblk_DivaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DivaMember" xlink:to="sblk_DivaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DivaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Diva [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DivaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Diva</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DocumentAndEntityInformationAbstract"
      xlink:href="sblk-20170630.xsd#sblk_DocumentAndEntityInformationAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DocumentAndEntityInformationAbstract"
      xlink:to="sblk_DocumentAndEntityInformationAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DocumentAndEntityInformationAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_DryDockingCostsPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DryDockingCostsPolicyTextBlock"
      xlink:to="sblk_DryDockingCostsPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for dry docking costs.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Dry Docking Costs [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dry docking and special survey expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EffectiveDateManagementAgreement"
      xlink:href="sblk-20170630.xsd#sblk_EffectiveDateManagementAgreement" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EffectiveDateManagementAgreement"
      xlink:to="sblk_EffectiveDateManagementAgreement_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EffectiveDateManagementAgreement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The element refers to the effective date of management agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_EffectiveDateManagementAgreement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Effective Date of Management Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2013Member"
      xlink:href="sblk-20170630.xsd#sblk_EquityIncentivePlan2013Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2013Member"
      xlink:to="sblk_EquityIncentivePlan2013Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2013Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2013 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2013Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2013</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2014Member"
      xlink:href="sblk-20170630.xsd#sblk_EquityIncentivePlan2014Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2014Member"
      xlink:to="sblk_EquityIncentivePlan2014Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Equity incentive plan of 2014</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2014 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2014</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2015Member"
      xlink:href="sblk-20170630.xsd#sblk_EquityIncentivePlan2015Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2015Member"
      xlink:to="sblk_EquityIncentivePlan2015Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The equity incentive plan of 2015.</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2015 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2015</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2016Member"
      xlink:href="sblk-20170630.xsd#sblk_EquityIncentivePlan2016Member" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2016 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2016Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2016</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2017Member"
      xlink:href="sblk-20170630.xsd#sblk_EquityIncentivePlan2017Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2017Member"
      xlink:to="sblk_EquityIncentivePlan2017Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2017Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2017 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2017Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2017 Equity Incentive Plan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember"
      xlink:to="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Definite agreements in which the company entered with Excel Maritime Carriers Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Maritime Carriers Ltd Definite Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Definite Agreements with Excel Maritime Carriers Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelMaritimeCarriersLtdMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelMaritimeCarriersLtdMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Maritime Carriers Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Maritime Carriers Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelTransactionsSoceAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelTransactionsSoceAdjustmentsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Transactions Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelTransactionsSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Transactions (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facilities Excel Vessel Bridge, Excel Vessel CiT, ABN AMRO $31,000 and Commerzbank $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility And Excel Vessel CiT Facility And ABN AMRO $31,000 Facility And Commerzbank 26,000 Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility, Excel Vessel CiT Facility, ABN AMRO $31,000 Facility and Commerzbank 26,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselBridgeFacilityIIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityIIIMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityIIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Excel Vessel Bridge Facility.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility III [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselBridgeFacilityIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityIIMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel vessel Bridge Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility (i)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselBridgeFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility (Note 3)</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselCITFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselCITFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselCITFacilityMember"
      xlink:to="sblk_ExcelVesselCITFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The crdit facility Excel Vessel CiT.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel CIT Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel CiT Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselsIIMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselsIIMember"
      xlink:to="sblk_ExcelVesselsIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessels II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_ExcelVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselsMember" xlink:to="sblk_ExcelVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels acquired from Excel Maritime Carriers Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"
      xlink:to="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for the asset or liability arising from the market value of the time charter assumed from a vessel acquisition or redelivery upon a time charter agreement termination.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above Market Acquired Time Charters [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value of Above-Market Acquired Time Charters:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueAdjustmentMember"
      xlink:href="sblk-20170630.xsd#sblk_FairValueAdjustmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAdjustmentMember"
      xlink:to="sblk_FairValueAdjustmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fair value adjustment portion of impairment charges.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Adjustment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Impairment charge, Fair value adjustment portion</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract"
      xlink:href="sblk-20170630.xsd#sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract"
      xlink:to="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above-Market Acquired Time Charters [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20170630.xsd#sblk_FairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The asset arising from the market value of the time charter contract assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Fair value of above market acquired time charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of above market acquired time charter (Note 7)</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Balance</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember"
      xlink:href="sblk-20170630.xsd#sblk_FinancedByNewYangzijiangOwnerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedByNewYangzijiangOwnerMember"
      xlink:to="sblk_FinancedByNewYangzijiangOwnerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement with New Yangzijiang Owner to finance the construction cost of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed By New Yangzijiang Owner [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed by New Yangzijiang owner</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancedBySWSOwnerMember"
      xlink:href="sblk-20170630.xsd#sblk_FinancedBySWSOwnerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedBySWSOwnerMember"
      xlink:to="sblk_FinancedBySWSOwnerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement with SWS Owner to finance the construction cost of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed By SWS owner [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed by SWS owner</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember"
      xlink:href="sblk-20170630.xsd#sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed Through Bareboat Capital Lease Arrangements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed through bareboat capital lease arrangements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancingHeronVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_FinancingHeronVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancingHeronVesselsMember"
      xlink:to="sblk_FinancingHeronVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancingHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financing of Heron Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Vessels Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancingReceivableWriteOffs"
      xlink:href="sblk-20170630.xsd#sblk_FinancingReceivableWriteOffs" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of write-downs of financing receivables.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financing Receivable Write Offs</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write off, Loan receivable</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstFourInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_FirstFourInstallmentsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstFourteenInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_FirstFourteenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstFourteenInstallmentsMember"
      xlink:to="sblk_FirstFourteenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Fourteen Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First fourteen installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstInstallmentIIMember"
      xlink:href="sblk-20170630.xsd#sblk_FirstInstallmentIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstInstallmentIIMember"
      xlink:to="sblk_FirstInstallmentIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Installment II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstInstallmentMember"
      xlink:href="sblk-20170630.xsd#sblk_FirstInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstInstallmentMember"
      xlink:to="sblk_FirstInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first installment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstPriorityMortgageMember"
      xlink:href="sblk-20170630.xsd#sblk_FirstPriorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstPriorityMortgageMember"
      xlink:to="sblk_FirstPriorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstPriorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Priority Mortgage [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstPriorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First-priority mortgage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FiveNewbuildingVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_FiveNewbuildingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FiveNewbuildingVesselsMember"
      xlink:to="sblk_FiveNewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FiveNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Five Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FiveNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Five newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember"
      xlink:href="sblk-20170630.xsd#sblk_FixForwardFloatingInterestRateForLiabilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FixForwardFloatingInterestRateForLiabilityMember"
      xlink:to="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The HSH Nordbank interest rate swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fix Forward Floating Interest Rate For Liability [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fix forward 50% of floating interest rate for the HSH Nordbank AG $35,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FlatFeePerVessel"
      xlink:href="sblk-20170630.xsd#sblk_FlatFeePerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FlatFeePerVessel" xlink:to="sblk_FlatFeePerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Flat fee charged per each newbuilding vessel, as commission fee relative to the negotiations with the shipyards on the construction of the Company's contracted newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Flat Fee Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel acquisition commission, Flat fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FleetUtilizationAssumption"
      xlink:href="sblk-20170630.xsd#sblk_FleetUtilizationAssumption" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FleetUtilizationAssumption"
      xlink:to="sblk_FleetUtilizationAssumption_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fleet utilization rate assumption used in the impairment test of long lived assets.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fleet Utilization Assumption</label>
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fleet utilization assumption</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember"
      xlink:href="sblk-20170630.xsd#sblk_FormerChiefExecutiveOfficerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FormerChiefExecutiveOfficerMember"
      xlink:to="sblk_FormerChiefExecutiveOfficerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Former Chief Executive Officer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Former Chief Executive Officer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FormerDirectorMember"
      xlink:href="sblk-20170630.xsd#sblk_FormerDirectorMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FormerDirectorMember"
      xlink:to="sblk_FormerDirectorMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FormerDirectorMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Former Director [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FormerDirectorMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Company's former director</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue"
      xlink:href="sblk-20170630.xsd#sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue"
      xlink:to="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value as of the balance sheet date of forward freight agreements derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Forward Freight Agreements Derivative Liabilities At Fair Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forward freight agreements - liability position</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ForwardFreightAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_ForwardFreightAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ForwardFreightAgreementsMember"
      xlink:to="sblk_ForwardFreightAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ForwardFreightAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Forward Freight Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ForwardFreightAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forward freight agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember"
      xlink:href="sblk-20170630.xsd#sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember"
      xlink:to="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Future minimum, non-cancellable lease payment under vessel operating leases [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember"
      xlink:href="sblk-20170630.xsd#sblk_FutureMinimumNonCancellableCharterRevenueMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FutureMinimumNonCancellableCharterRevenueMember"
      xlink:to="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The future, minimum, non-cancellable charter revenue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Future Minimum Non Cancellable Charter Revenue [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Future, minimum, non-cancellable charter revenue (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainFromInsuranceClaim"
      xlink:href="sblk-20170630.xsd#sblk_GainFromInsuranceClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainFromInsuranceClaim"
      xlink:to="sblk_GainFromInsuranceClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents the gain arising from insurance claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain from insurance claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gain from insurance claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainFromWriteOffLiability"
      xlink:href="sblk-20170630.xsd#sblk_GainFromWriteOffLiability" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainFromWriteOffLiability"
      xlink:to="sblk_GainFromWriteOffLiability_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The non-cash gain from the write-off of a liability, relevant to operating activities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain From Write Off Of Liability</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write-off of liability in other operational gain (non-cash gain) (Note 11)</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Exinguishment of liability related to amount of fuel and lubricants remaining on board</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Write-off of liability in other operational gain (non cash gain) (Note 10)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"
      xlink:href="sblk-20170630.xsd#sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"
      xlink:to="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The aggregate net effect in earnings due to derivatives.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Derivative Instruments Aggregate Net Effect In Earnings</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Gain/(loss) recognized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainLossOnSaleOfClaim"
      xlink:href="sblk-20170630.xsd#sblk_GainLossOnSaleOfClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainLossOnSaleOfClaim"
      xlink:to="sblk_GainLossOnSaleOfClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Total amount of gain / (loss) on sale of claim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Sale Of Claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gain on sale of claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember"
      xlink:href="sblk-20170630.xsd#sblk_GargantuaAndGoliathAndMaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GargantuaAndGoliathAndMaharajMember"
      xlink:to="sblk_GargantuaAndGoliathAndMaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gargantua And Goliath And Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gargantua, Goliath and Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GargantuaMember"
      xlink:href="sblk-20170630.xsd#sblk_GargantuaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GargantuaMember" xlink:to="sblk_GargantuaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Gargantua.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gargantua [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gargantua</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoldmanSachsBankUSAMember"
      xlink:href="sblk-20170630.xsd#sblk_GoldmanSachsBankUSAMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoldmanSachsBankUSAMember"
      xlink:to="sblk_GoldmanSachsBankUSAMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The financial institution Goldman Sachs Bank USA.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goldman Sachs Bank USA Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goldman Sachs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoldmanSachsSwapsMember"
      xlink:href="sblk-20170630.xsd#sblk_GoldmanSachsSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoldmanSachsSwapsMember"
      xlink:to="sblk_GoldmanSachsSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Goldman Sachs swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goldman Sachs Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goldman Sachs Swaps after hedging de-designation of accounting hedging relationship (April 1, 2015)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoliathAndMaharajMember"
      xlink:href="sblk-20170630.xsd#sblk_GoliathAndMaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoliathAndMaharajMember"
      xlink:to="sblk_GoliathAndMaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Goliath (ex -HN 167) and Maharaj (ex -HN 185).</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goliath And Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goliath (ex -HN 167) and Maharaj (ex -HN 185)</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Goliath and Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoliathMember"
      xlink:href="sblk-20170630.xsd#sblk_GoliathMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoliathMember" xlink:to="sblk_GoliathMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoliathMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goliath [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goliath</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GreeceMember"
      xlink:href="sblk-20170630.xsd#sblk_GreeceMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GreeceMember" xlink:to="sblk_GreeceMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GreeceMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Greece [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GreeceMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Greece</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GrossDailyCharterRate"
      xlink:href="sblk-20170630.xsd#sblk_GrossDailyCharterRate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GrossDailyCharterRate"
      xlink:to="sblk_GrossDailyCharterRate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The gross daily charter rate.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gross Daily Charter Rate</label>
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gross daily charter rate</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1080Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1080Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1080Member" xlink:to="sblk_HN1080Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1080Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1080 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1080Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1080 (tbn Kennadi)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1081Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1081Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1081Member" xlink:to="sblk_HN1081Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1081 (tbn Mackenzie).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1081 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1081 (tbn Mackenzie)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1082Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1082Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1082Member" xlink:to="sblk_HN1082Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1082 (tbn Night Owl).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1082 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1082 (tbn Night Owl)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1083Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1083Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1083Member" xlink:to="sblk_HN1083Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1083 (tbn Early Bird).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1083 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1083 (tbn Early Bird)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1312Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1312Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1312Member" xlink:to="sblk_HN1312Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1312 (tbn Bruno Marks).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1312 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1312 (tbn Bruno Marks)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1313Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1313Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1313Member" xlink:to="sblk_HN1313Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1313 (tbn Jenmark).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1313 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1313 (tbn Jenmark)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1359Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1359Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1359Member" xlink:to="sblk_HN1359Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1359 (tbn Star Marisa).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1359 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1359 (tbn Star Marisa)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1359 (tbn Star Marisa)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1360Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1360Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1360Member" xlink:to="sblk_HN1360Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1360 (tbn Star Ariadne).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1360 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1360 (tbn Star Ariadne)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1360 (tbn Star Ariadne) (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1361Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1361Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1361Member" xlink:to="sblk_HN1361Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1361 (tbn Star Magnanimus).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1361 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1361(tbn Star Magnanimus)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1361 (tbn Star Magnanimus) (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1363Member"
      xlink:href="sblk-20170630.xsd#sblk_HN1363Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1363Member" xlink:to="sblk_HN1363Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1363 (tbn Star Chaucer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1363 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1363 (tbn Star Chaucer)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1363 (tbn Star Chaucer)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN5055Member"
      xlink:href="sblk-20170630.xsd#sblk_HN5055Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN5055Member" xlink:to="sblk_HN5055Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5055 (tbn Behemoth).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 5055 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 5055 (tbn Behemoth)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN5056Member"
      xlink:href="sblk-20170630.xsd#sblk_HN5056Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN5056Member" xlink:to="sblk_HN5056Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5056 (tbn Megalodon).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 5056 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 5056 (tbn Megalodon)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HNNE167Member"
      xlink:href="sblk-20170630.xsd#sblk_HNNE167Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HNNE167Member" xlink:to="sblk_HNNE167Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel  HN NE 167 (tbn Goliath).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN NE 167 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN NE 167 (tbn Goliath)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HNNE184Member"
      xlink:href="sblk-20170630.xsd#sblk_HNNE184Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HNNE184Member" xlink:to="sblk_HNNE184Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel  HN NE 184 (tbn Maharaj).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN NE 184 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN NE 184 (tbn Maharaj)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HSBCFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_HSBCFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HSBCFacilityMember" xlink:to="sblk_HSBCFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSBC $86,600.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HSBC Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSBC $86,600 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HandlingFees"
      xlink:href="sblk-20170630.xsd#sblk_HandlingFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HandlingFees" xlink:to="sblk_HandlingFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HandlingFees_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of fees related to handling fees at acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandlingFees_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Handling Fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HandymaxVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_HandymaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HandymaxVesselsMember"
      xlink:to="sblk_HandymaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Handymax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Handymax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Handymax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeldInEscrowForHeronVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_HeldInEscrowForHeronVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeldInEscrowForHeronVesselsMember"
      xlink:to="sblk_HeldInEscrowForHeronVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeldInEscrowForHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Held In Escrow For Heron Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeldInEscrowForHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held in escrow for Heron vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronConvertibleLoanMember"
      xlink:href="sblk-20170630.xsd#sblk_HeronConvertibleLoanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronConvertibleLoanMember"
      xlink:to="sblk_HeronConvertibleLoanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Heron Convertible Loan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Convertible Loan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Convertible Loan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_HeronTransactionSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronTransactionSoceAdjustmentsMember"
      xlink:to="sblk_HeronTransactionSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Transaction Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVenturesLtdMember"
      xlink:href="sblk-20170630.xsd#sblk_HeronVenturesLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronVenturesLtdMember"
      xlink:to="sblk_HeronVenturesLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Heron Ventures Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Ventures Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Ventures Ltd</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVesselsIIMember"
      xlink:href="sblk-20170630.xsd#sblk_HeronVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronVesselsIIMember"
      xlink:to="sblk_HeronVesselsIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Heron vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Vessels II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HoneyBadgerMember"
      xlink:href="sblk-20170630.xsd#sblk_HoneyBadgerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HoneyBadgerMember" xlink:to="sblk_HoneyBadgerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Honey Badger.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Honey Badger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Honey Badger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HoneyBadgerWolverineMember"
      xlink:href="sblk-20170630.xsd#sblk_HoneyBadgerWolverineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HoneyBadgerWolverineMember"
      xlink:to="sblk_HoneyBadgerWolverineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Honey Badger and Wolverine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Honey Badger And Wolverine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Honey Badger and Wolverine</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAg3Member"
      xlink:href="sblk-20170630.xsd#sblk_HshNordbankAg3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAg3Member"
      xlink:to="sblk_HshNordbankAg3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSH Nordbank AG $64,500.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG $64,500 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_HshNordbankAg3SupplementalAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAg3SupplementalAgreementMember"
      xlink:to="sblk_HshNordbankAg3SupplementalAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag 3 Supplemental Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG $64,500 facility, Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAgMember"
      xlink:href="sblk-20170630.xsd#sblk_HshNordbankAgMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAgMember"
      xlink:to="sblk_HshNordbankAgMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSH Nordbank AG $35,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG (Loan agreement dated October 3, 2011)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HSH Nordbank AG $35,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1338Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull1338Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1338Member" xlink:to="sblk_Hull1338Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1338 (tbn Star Aries).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1338 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1338 (tbn Star Aries)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1338 (tbn Star Aries)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1339Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull1339Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1339Member" xlink:to="sblk_Hull1339Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1339 (tbn Star Taurus).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1339 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1339 (tbn Star Taurus)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1339 (tbn Star Taurus)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1342Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull1342Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1342Member" xlink:to="sblk_Hull1342Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1342 (tbn Star Gemini).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1342 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1342 (tbn Star Gemini)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1342 (tbn Star Gemini)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1343Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull1343Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1343Member" xlink:to="sblk_Hull1343Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1343 (tbn Star Leo).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1343 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1343 (tbn Star Leo)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1343 (tbn Star Leo)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull5040Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull5040Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull5040Member" xlink:to="sblk_Hull5040Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5040 (tbn Star Aquarius).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 5040 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 5040 (tbn Star Aquarius)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 5040 (tbn Star Aquarius)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull5043Member"
      xlink:href="sblk-20170630.xsd#sblk_Hull5043Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull5043Member" xlink:to="sblk_Hull5043Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5043 (tbn Star Pisces).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 5043 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 5043 (tbn Star Pisces)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 5043 (tbn Star Pisces)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullAndMachineryClaimMember"
      xlink:href="sblk-20170630.xsd#sblk_HullAndMachineryClaimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullAndMachineryClaimMember"
      xlink:to="sblk_HullAndMachineryClaimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullAndMachineryClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull And Machinery Claim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullAndMachineryClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull and Machinery Insurance Claim and Protection and Indemnity Claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE196Member"
      xlink:href="sblk-20170630.xsd#sblk_HullNE196Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE196Member" xlink:to="sblk_HullNE196Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 196 (tbn Star Antares).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 196 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 196 (tbn Star Antares)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 196 (tbn Star Antares)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE197Member"
      xlink:href="sblk-20170630.xsd#sblk_HullNE197Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE197Member" xlink:to="sblk_HullNE197Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 197 (Star Lutas).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 197 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 197 (Star Lutas)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 197 (Star Lutas)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE198Member"
      xlink:href="sblk-20170630.xsd#sblk_HullNE198Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE198Member" xlink:to="sblk_HullNE198Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 198 (tbn Star Poseidon).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 198 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 198 (tbn Star Poseidon)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 198 (tbn Star Poseidon)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNo1371Member"
      xlink:href="sblk-20170630.xsd#sblk_HullNo1371Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNo1371Member" xlink:to="sblk_HullNo1371Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1371 (tbn Star Virgo).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull No 1371 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Virgo (ex HN 1371)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1371 (tbn Star Virgo) (1) (Note 19)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNo1372Member"
      xlink:href="sblk-20170630.xsd#sblk_HullNo1372Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNo1372Member" xlink:to="sblk_HullNo1372Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1372 (tbn Star Libra).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull No 1372 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1372 (tbn Star Libra)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1372 (tbn Star Libra)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IdeeFixeMember"
      xlink:href="sblk-20170630.xsd#sblk_IdeeFixeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IdeeFixeMember" xlink:to="sblk_IdeeFixeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Idee FIxe.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Idee Fixe [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Idee Fixe</label>
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Idee Fixe (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IndomitableMember"
      xlink:href="sblk-20170630.xsd#sblk_IndomitableMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IndomitableMember" xlink:to="sblk_IndomitableMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Intomitable.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Indomitable [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Indomitable</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InflationAssumption"
      xlink:href="sblk-20170630.xsd#sblk_InflationAssumption" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InflationAssumption"
      xlink:to="sblk_InflationAssumption_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The assumption for the average rate of inflation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inflation Assumption</label>
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inflation assumption</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InsuranceCoverageMaximumAmount"
      xlink:href="sblk-20170630.xsd#sblk_InsuranceCoverageMaximumAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InsuranceCoverageMaximumAmount"
      xlink:to="sblk_InsuranceCoverageMaximumAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum amount of Protection and Indemnity (P&amp;I) insurance coverage for pollution, per vessel per incident.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Insurance Coverage Maximum Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Coverage for pollution</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember"
      xlink:href="sblk-20170630.xsd#sblk_InterchartAcquisitionSharesIssuanceMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartAcquisitionSharesIssuanceMember"
      xlink:to="sblk_InterchartAcquisitionSharesIssuanceMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Common shares issued as part of the acquisition of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Acquisition Shares Issuance [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Acquisition Shares Issuance</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartShippingIIMember"
      xlink:href="sblk-20170630.xsd#sblk_InterchartShippingIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartShippingIIMember"
      xlink:to="sblk_InterchartShippingIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Shipping II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Shipping Inc</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Acquisition of 33% of Interchart (Note 10)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartShippingMember"
      xlink:href="sblk-20170630.xsd#sblk_InterchartShippingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartShippingMember"
      xlink:to="sblk_InterchartShippingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Shipping [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interchart</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartSoceAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_InterchartSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartSoceAdjustmentsMember"
      xlink:to="sblk_InterchartSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Acquisition of 33% of Interchart (Note 9)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_InterestFinanceCostsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestFinanceCostsTableTextBlock"
      xlink:to="sblk_InterestFinanceCostsTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of interest and finance costs.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest And Finance Costs [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest and finance costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateDerivativeGainLossRealizedInEarningsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"
      xlink:to="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of gain (loss) included in earnings for the period from the settlement of interest rate derivatives not designated as hedging instruments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Derivative Gain Loss Realized In Earnings Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Realized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap1Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap1Member"
      xlink:to="sblk_InterestRateSwap1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap A - fix forward floating interest rate for first tranche of Credit Agricole $70,000 Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest Rate Swap 1</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap2Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap2Member"
      xlink:to="sblk_InterestRateSwap2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The second interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap B - fix forward floating interest rate for second tranche of Credit Agricole $70,000 Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest Rate Swap 2</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap3Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap3Member"
      xlink:to="sblk_InterestRateSwap3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 3</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap4Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap4Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap4Member"
      xlink:to="sblk_InterestRateSwap4Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap4 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 4</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap5Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap5Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap5Member"
      xlink:to="sblk_InterestRateSwap5Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap5Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap5 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap5Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 5</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap6Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap6Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap6Member"
      xlink:to="sblk_InterestRateSwap6Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap6Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap6 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap6Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 6</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap7Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap7Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap7Member"
      xlink:to="sblk_InterestRateSwap7Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap7Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap7 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap7Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 7</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap8Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap8Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap8Member"
      xlink:to="sblk_InterestRateSwap8Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap8Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap8 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap8Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 8</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap9Member"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwap9Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap9Member"
      xlink:to="sblk_InterestRateSwap9Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap9Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap9 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap9Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap 9</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwapsMember"
      xlink:href="sblk-20170630.xsd#sblk_InterestRateSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwapsMember"
      xlink:to="sblk_InterestRateSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Forward based contracts in which two parties agree to swap periodic payments that are fixed at the outset of the swap contract with variable payments based on a market interest rate (index rate) over a specified period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate swaps (gain)/loss</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest Rate Swaps</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Issuance50MillionNotesMember"
      xlink:href="sblk-20170630.xsd#sblk_Issuance50MillionNotesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Issuance50MillionNotesMember"
      xlink:to="sblk_Issuance50MillionNotesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The 2019 Senior Notes.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Issuance of 50 Million Notes [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.00% 2019 Notes</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">8.00% 2019 Notes</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
      xlink:href="sblk-20170630.xsd#sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
      xlink:to="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The total value of vested and non-vested shares issued during the period and the total amount of stock based compensation amortized.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Issuance Of Vested And Non Vested Shares Amortization Stock Based Compensation Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_JenmarkStarAriesStarTaurusMember"
      xlink:href="sblk-20170630.xsd#sblk_JenmarkStarAriesStarTaurusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_JenmarkStarAriesStarTaurusMember"
      xlink:to="sblk_JenmarkStarAriesStarTaurusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_JenmarkStarAriesStarTaurusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Jenmark Star Aries Star Taurus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_JenmarkStarAriesStarTaurusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Jenmark, Star Aries and Star Taurus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KaleyMember"
      xlink:href="sblk-20170630.xsd#sblk_KaleyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KaleyMember" xlink:to="sblk_KaleyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Kaley.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kaley [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kaley</label>
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Kaley (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KamsarmaxVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_KamsarmaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KamsarmaxVesselsMember"
      xlink:to="sblk_KamsarmaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Kamsarmax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kamsarmax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kamsarmax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KennadiMember"
      xlink:href="sblk-20170630.xsd#sblk_KennadiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KennadiMember" xlink:to="sblk_KennadiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KennadiMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kennadi [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KennadiMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kennadi</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KoreaLineCorporationMember"
      xlink:href="sblk-20170630.xsd#sblk_KoreaLineCorporationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KoreaLineCorporationMember"
      xlink:to="sblk_KoreaLineCorporationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Korea Line Corporation</label>
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Korea Line Corporation [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Korea Line Crporation ("KLC")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KymopoliaIMember"
      xlink:href="sblk-20170630.xsd#sblk_KymopoliaIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KymopoliaIMember" xlink:to="sblk_KymopoliaIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Kymopolia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kymopolia I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kymopolia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LastFourInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_LastFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastFourInstallmentsMember"
      xlink:to="sblk_LastFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LastSixteenInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_LastSixteenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastSixteenInstallmentsMember"
      xlink:to="sblk_LastSixteenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The last sixteen installments of a cash favorable payment upon settlement of a legal threat made to another party.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Sixteen Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last sixteen installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LastTwentyInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_LastTwentyInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastTwentyInstallmentsMember"
      xlink:to="sblk_LastTwentyInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastTwentyInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Twenty Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastTwentyInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last twenty installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LauraMember"
      xlink:href="sblk-20170630.xsd#sblk_LauraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LauraMember" xlink:to="sblk_LauraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Laura.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Laura [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Laura</label>
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Laura (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"
      xlink:href="sblk-20170630.xsd#sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"
      xlink:to="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum amount, agreed under a lease arrangement, to finance construction cost.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lease agreements, maximum amount to finance construction cost</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LegalSettlementsSharesAcquired"
      xlink:href="sblk-20170630.xsd#sblk_LegalSettlementsSharesAcquired" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LegalSettlementsSharesAcquired"
      xlink:to="sblk_LegalSettlementsSharesAcquired_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of shares acquired in a non-cash or part non-cash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Settlements Shares Acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares received</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeviathanAndPeloreusMember"
      xlink:href="sblk-20170630.xsd#sblk_LeviathanAndPeloreusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeviathanAndPeloreusMember"
      xlink:to="sblk_LeviathanAndPeloreusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanAndPeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Leviathan And Peloreus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanAndPeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Leviathan and Peloreus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeviathanMember"
      xlink:href="sblk-20170630.xsd#sblk_LeviathanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeviathanMember" xlink:to="sblk_LeviathanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Leviathan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Leviathan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Leviathan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
      xlink:href="sblk-20170630.xsd#sblk_LineOfCreditFacilityNumberOfRepaymentInstallment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
      xlink:to="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of repayment installments of a credit facility agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Number Of Repayment Installment</label>
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListNewbuildingsTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ListNewbuildingsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListNewbuildingsTableTextBlock"
      xlink:to="sblk_ListNewbuildingsTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's newbuildings.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Newbuildings [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries"
      xlink:href="sblk-20170630.xsd#sblk_ListNonVesselOwningSubsidiaries" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListNonVesselOwningSubsidiaries"
      xlink:to="sblk_ListNonVesselOwningSubsidiaries_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's non-vessel owning subsidiaries.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Non Vessel Owning Subsidiaries</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Non-vessel owning subsidiaries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ListOfSubsidiariesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListOfSubsidiariesTableTextBlock"
      xlink:to="sblk_ListOfSubsidiariesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's subsidiaries.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Subsidiaries [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Subsidiaries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
      xlink:to="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of vessels under commercial and technical management.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Vessels Under Commercial And Technical Management [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of vessels under commercial and technical management by Starbulk S.A.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LitigationSettlementPeriodicPayment"
      xlink:href="sblk-20170630.xsd#sblk_LitigationSettlementPeriodicPayment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LitigationSettlementPeriodicPayment"
      xlink:to="sblk_LitigationSettlementPeriodicPayment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the required periodic payments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Litigation Settlement Periodic Payment</label>
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount per installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LossOffHire"
      xlink:href="sblk-20170630.xsd#sblk_LossOffHire" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LossOffHire" xlink:to="sblk_LossOffHire_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Revenue loss due to off hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Off Hire</label>
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenue loss due to off hire</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LowlandsBeilunMember"
      xlink:href="sblk-20170630.xsd#sblk_LowlandsBeilunMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LowlandsBeilunMember"
      xlink:to="sblk_LowlandsBeilunMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Despoina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lowlands Beilun [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Despoina</label>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Despoina (ex Lowlands Beilun)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LubricantsExpense"
      xlink:href="sblk-20170630.xsd#sblk_LubricantsExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LubricantsExpense" xlink:to="sblk_LubricantsExpense_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cost of lubricants consumed during the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lubricants Expense</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lubricants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LubricantsInventoryCurrent"
      xlink:href="sblk-20170630.xsd#sblk_LubricantsInventoryCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LubricantsInventoryCurrent"
      xlink:to="sblk_LubricantsInventoryCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying amount as of the balance sheet date of lubricants' inventory.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lubricants Inventory Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lubricants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MackenzieMember"
      xlink:href="sblk-20170630.xsd#sblk_MackenzieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MackenzieMember" xlink:to="sblk_MackenzieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MackenzieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Mackenzie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MackenzieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mackenzie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MadredeusAndAmamiMember"
      xlink:href="sblk-20170630.xsd#sblk_MadredeusAndAmamiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MadredeusAndAmamiMember"
      xlink:to="sblk_MadredeusAndAmamiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusAndAmamiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Madredeus And Amami [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusAndAmamiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Madredeus and Amami</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MadredeusIMember"
      xlink:href="sblk-20170630.xsd#sblk_MadredeusIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MadredeusIMember" xlink:to="sblk_MadredeusIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Madredeus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Madredeus I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Madredeus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MagnumOpusMember"
      xlink:href="sblk-20170630.xsd#sblk_MagnumOpusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MagnumOpusMember" xlink:to="sblk_MagnumOpusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Magnum Opus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Magnum Opus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Magnum Opus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaharajMember"
      xlink:href="sblk-20170630.xsd#sblk_MaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaharajMember" xlink:to="sblk_MaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaharajMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaharajMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaidenVoyageIMember"
      xlink:href="sblk-20170630.xsd#sblk_MaidenVoyageIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaidenVoyageIMember"
      xlink:to="sblk_MaidenVoyageIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Maiden Voyage.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maiden Voyage I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maiden Voyage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember"
      xlink:href="sblk-20170630.xsd#sblk_ManagedVesselsOceanBulkShippingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ManagedVesselsOceanBulkShippingMember"
      xlink:to="sblk_ManagedVesselsOceanBulkShippingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Managed Vessels of Oceanbulk Shipping LLC.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Managed Vessels OceanBulk Shipping [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Managed Vessels of Oceanbulk Shipping LLC</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Managed Vessels of Oceanbulk Shipping LLC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ManagementFeesTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ManagementFeesTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ManagementFeesTextBlock"
      xlink:to="sblk_ManagementFeesTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for management fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ManagementFees [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MartoMember"
      xlink:href="sblk-20170630.xsd#sblk_MartoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MartoMember" xlink:to="sblk_MartoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Marto.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Marto [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Marto</label>
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Marto (4)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaryvilleMaritimeIncMember"
      xlink:href="sblk-20170630.xsd#sblk_MaryvilleMaritimeIncMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaryvilleMaritimeIncMember"
      xlink:to="sblk_MaryvilleMaritimeIncMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Maryville Maritime Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maryville Maritime Inc [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maryville Maritime Inc.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MegalodonMember"
      xlink:href="sblk-20170630.xsd#sblk_MegalodonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MegalodonMember" xlink:to="sblk_MegalodonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MegalodonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Megalodon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MegalodonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Megalodon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MercurialVirgoIMember"
      xlink:href="sblk-20170630.xsd#sblk_MercurialVirgoIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MercurialVirgoIMember"
      xlink:to="sblk_MercurialVirgoIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Mercurial Virgo.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Mercurial Virgo I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mercurial Virgo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MergerPappasTransaction2Member"
      xlink:href="sblk-20170630.xsd#sblk_MergerPappasTransaction2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransaction2Member"
      xlink:to="sblk_MergerPappasTransaction2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransaction2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">MergerPappasTransaction2Member</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransaction2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger and Pappas Transaction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MergerPappasTransactionMember"
      xlink:href="sblk-20170630.xsd#sblk_MergerPappasTransactionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransactionMember"
      xlink:to="sblk_MergerPappasTransactionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Transactions that resulted in the acquisition of the Oceanbulk holding companies and the "Pappas Companies".</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Merger And Pappas Transaction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger and Pappas Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Merger and Pappas Transaction - five newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_MergerPappasTransactionSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransactionSoceAdjustmentsMember"
      xlink:to="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Merger Pappas Transaction Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MinimumLiquidFundsMember"
      xlink:href="sblk-20170630.xsd#sblk_MinimumLiquidFundsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MinimumLiquidFundsMember"
      xlink:to="sblk_MinimumLiquidFundsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The minimum liquid funds that the company is required to maintain under the credit facility covenant terms.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Minimum Liquid Funds [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Company's Minimum Liquid Funds</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember"
      xlink:href="sblk-20170630.xsd#sblk_MinimumLiquidFundsPerVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MinimumLiquidFundsPerVesselMember"
      xlink:to="sblk_MinimumLiquidFundsPerVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The minimum liquid funds per vessel that the company is required to maintain under the credit facility covenant terms.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Minimum Liquid Funds Per Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Minimum Liquid Funds per Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NIBCFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_NIBCFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NIBCFacilityMember" xlink:to="sblk_NIBCFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility NIBC $32,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">NIBC Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">NIBC $32,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember"
      xlink:href="sblk-20170630.xsd#sblk_NetCashProceedsFromCertainAssetSalesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NetCashProceedsFromCertainAssetSalesMember"
      xlink:to="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Net Cash Proceeds From Certain Asset Sales [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net cash proceeds from certain asset sales</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
      xlink:href="sblk-20170630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
      xlink:to="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the effect of a change in accounting estimate on basic and diluted earnings per share.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncement Or Change In Accounting Estimate Effect Of Change On Basic And Diluted Earnings Per Share</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of change in accounting estimate, loss on basic and diluted earnings per share</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
      xlink:href="sblk-20170630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
      xlink:to="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the effect of a change in accounting estimate on net income.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncement Or Change In Accounting Estimate Effect Of Change On Net Income</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of change in acounting estimate, decrease of charge to net income / (loss)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewServicesAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_NewServicesAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewServicesAgreementMember"
      xlink:to="sblk_NewServicesAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">New services agreement with related parties for chartering, brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Services Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Services Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewYangzijiangVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_NewYangzijiangVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewYangzijiangVesselsMember"
      xlink:to="sblk_NewYangzijiangVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels being built an New Yangzijiang shipyard.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Yangzijiang Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Yangzijiang Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewbuildingVesselsIIMember"
      xlink:href="sblk-20170630.xsd#sblk_NewbuildingVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewbuildingVesselsIIMember"
      xlink:to="sblk_NewbuildingVesselsIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newbuilding Vessels II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewbuildingVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_NewbuildingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewbuildingVesselsMember"
      xlink:to="sblk_NewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuilding Vessels or Lease Agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewbuildingsMember"
      xlink:href="sblk-20170630.xsd#sblk_NewbuildingsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewbuildingsMember" xlink:to="sblk_NewbuildingsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newbuildings [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuilding Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewcastlemaxVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_NewcastlemaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewcastlemaxVesselsMember"
      xlink:to="sblk_NewcastlemaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewcastlemaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newcastlemax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewcastlemaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newcastlemax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsCompensation"
      xlink:href="sblk-20170630.xsd#sblk_NonExecutiveDirectorsCompensation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NonExecutiveDirectorsCompensation"
      xlink:to="sblk_NonExecutiveDirectorsCompensation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Expenditures for compensation for non executive officers.Examples include, but not limited to, Board of Director's attendance fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Non Executive Directors Compensation</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors compensation</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Compensation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsMember"
      xlink:href="sblk-20170630.xsd#sblk_NonExecutiveDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NonExecutiveDirectorsMember"
      xlink:to="sblk_NonExecutiveDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Non-executive directors of the company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Non Executive Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NoncashEffectsOfDerivativeFinancialInstruments"
      xlink:href="sblk-20170630.xsd#sblk_NoncashEffectsOfDerivativeFinancialInstruments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NoncashEffectsOfDerivativeFinancialInstruments"
      xlink:to="sblk_NoncashEffectsOfDerivativeFinancialInstruments_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NoncashEffectsOfDerivativeFinancialInstruments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Noncash effects of derivative financial instruments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NoncashEffectsOfDerivativeFinancialInstruments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Noncash Effects Of Derivative Financial Instruments</label>
    <label xlink:type="resource"
      xlink:label="sblk_NoncashEffectsOfDerivativeFinancialInstruments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-cash effects of derivative financial instruments (Note 15)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfBanks"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfBanks" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfBanks" xlink:to="sblk_NumberOfBanks_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfBanks_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of banks that the company has entered into restructuring letter agreements.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfBanks_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Banks</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfBanks_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of banks</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfDirectors"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfDirectors" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfDirectors" xlink:to="sblk_NumberOfDirectors_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of directors constituting the Board of Directors.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Directors</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfInstallments"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfInstallments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfInstallments"
      xlink:to="sblk_NumberOfInstallments_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of payment installments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Installments</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfLoanTranches"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfLoanTranches" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfLoanTranches"
      xlink:to="sblk_NumberOfLoanTranches_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of tranches under the credit facility.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Loan Tranches</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of loan tranches</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfNewbuildingContractsTerminated" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfNewbuildingContractsTerminated"
      xlink:to="sblk_NumberOfNewbuildingContractsTerminated_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of newbuilding contracts terminated.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Newbuilding Contracts Terminated</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of newbuilding contracts terminated</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfNewbuildingContracts"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfNewbuildingContracts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfNewbuildingContracts"
      xlink:to="sblk_NumberOfNewbuildingContracts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of newbuildings contracts acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Newbuilding Contracts</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of contracts for Newbuildings acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of newbuilding contracts</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfVesselFinancedByDebtInstrument" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfVesselFinancedByDebtInstrument"
      xlink:to="sblk_NumberOfVesselFinancedByDebtInstrument_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of vessels financed by the debt instrument.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Vessel Financed By Debt Instrument</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels financed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfVessels"
      xlink:href="sblk-20170630.xsd#sblk_NumberOfVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfVessels" xlink:to="sblk_NumberOfVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OaktreeAndItsAffiliatesMember"
      xlink:href="sblk-20170630.xsd#sblk_OaktreeAndItsAffiliatesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OaktreeAndItsAffiliatesMember"
      xlink:to="sblk_OaktreeAndItsAffiliatesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeAndItsAffiliatesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oaktree And Its Affiliates[Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeAndItsAffiliatesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oaktree and its affiliates</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OaktreeMember"
      xlink:href="sblk-20170630.xsd#sblk_OaktreeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OaktreeMember" xlink:to="sblk_OaktreeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oaktree [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oaktree</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OaktreeShareholdersAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_OaktreeShareholdersAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OaktreeShareholdersAgreementMember"
      xlink:to="sblk_OaktreeShareholdersAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeShareholdersAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oaktree Shareholders Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeShareholdersAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shareholders Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ObelixIMember"
      xlink:href="sblk-20170630.xsd#sblk_ObelixIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ObelixIMember" xlink:to="sblk_ObelixIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Obelix.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Obelix I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Obelix</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkIMember"
      xlink:href="sblk-20170630.xsd#sblk_OceanbulkIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkIMember" xlink:to="sblk_OceanbulkIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Oceanbulk holding companies.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkMaritimeMember"
      xlink:href="sblk-20170630.xsd#sblk_OceanbulkMaritimeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkMaritimeMember"
      xlink:to="sblk_OceanbulkMaritimeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company OceanBulk Maritime.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Maritime [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Maritime S.A. and its affiliates</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Oceanbulk profit sharing agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_OceanbulkMaritimeSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkMaritimeSoceAdjustmentsMember"
      xlink:to="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Maritime Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Maritime (Note 3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkPappasCompaniesMember"
      xlink:href="sblk-20170630.xsd#sblk_OceanbulkPappasCompaniesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkPappasCompaniesMember"
      xlink:to="sblk_OceanbulkPappasCompaniesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkPappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk And Pappas Companies [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkPappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger and the Pappas Transaction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkSellersMember"
      xlink:href="sblk-20170630.xsd#sblk_OceanbulkSellersMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkSellersMember"
      xlink:to="sblk_OceanbulkSellersMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Oceanbulk Sellers.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Sellers [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Sellers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OffHireDays"
      xlink:href="sblk-20170630.xsd#sblk_OffHireDays" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OffHireDays" xlink:to="sblk_OffHireDays_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The time during which the vessel is off-hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Off Hire Days</label>
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Off hire days</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OfficeRentMember"
      xlink:href="sblk-20170630.xsd#sblk_OfficeRentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OfficeRentMember" xlink:to="sblk_OfficeRentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OfficeRentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Office Rent [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OfficeRentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Office rent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OperatingVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_OperatingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OperatingVesselsMember"
      xlink:to="sblk_OperatingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember"
      xlink:href="sblk-20170630.xsd#sblk_OperatingVesselsSoldAndDeliveredMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OperatingVesselsSoldAndDeliveredMember"
      xlink:to="sblk_OperatingVesselsSoldAndDeliveredMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Vessels Sold And Delivered [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating vessels sold and delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
      xlink:href="sblk-20170630.xsd#sblk_OperatingVesselsSoldButNotYetDeliveredMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
      xlink:to="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Vessels Sold But NotYet Delivered [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating vessels sold but not yet delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract"
      xlink:href="sblk-20170630.xsd#sblk_OtherComprehensiveIncomeLossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherComprehensiveIncomeLossAbstract"
      xlink:to="sblk_OtherComprehensiveIncomeLossAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income loss [abstract]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other comprehensive income / (loss):</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherOperationalGainTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_OtherOperationalGainTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherOperationalGainTextBlock"
      xlink:to="sblk_OtherOperationalGainTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for other operational gain.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Gain [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other operational gain:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherOperationalLossTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_OtherOperationalLossTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherOperationalLossTextBlock"
      xlink:to="sblk_OtherOperationalLossTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for other operational loss.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Loss [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other operational loss</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherVesselAcquisitionCosts"
      xlink:href="sblk-20170630.xsd#sblk_OtherVesselAcquisitionCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherVesselAcquisitionCosts"
      xlink:to="sblk_OtherVesselAcquisitionCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of extra fees related to acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Vessel Acquisition Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other expenses capitalized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PanamaxVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_PanamaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PanamaxVesselsMember"
      xlink:to="sblk_PanamaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Panamax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Panamax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Panamax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PantagruelIMember"
      xlink:href="sblk-20170630.xsd#sblk_PantagruelIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PantagruelIMember" xlink:to="sblk_PantagruelIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Pantagruel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pantagruel I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pantagruel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PappasCompaniesMember"
      xlink:href="sblk-20170630.xsd#sblk_PappasCompaniesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PappasCompaniesMember"
      xlink:to="sblk_PappasCompaniesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The companies Dioriga Shipping Co. and Positive Shipping Company, collectively the "Pappas Companies".</label>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pappas Companies [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pappas Companies</label>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares"
      xlink:href="sblk-20170630.xsd#sblk_PaymentsForPostemploymentBenefitsShares" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PaymentsForPostemploymentBenefitsShares"
      xlink:to="sblk_PaymentsForPostemploymentBenefitsShares_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Shares used for payments of postemployment benefits (such as severance pay and health insurance benefits) recognised during the period. Postemployment benefits are benefits paid to employees after employment but before retirement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments For Postemployment Benefits Shares</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Severance payments,common shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
      xlink:href="sblk-20170630.xsd#sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
      xlink:to="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash outflow to acquire above market charters.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Above Market Acquired Time Charters</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Cash paid for above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PeloreusMember"
      xlink:href="sblk-20170630.xsd#sblk_PeloreusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PeloreusMember" xlink:to="sblk_PeloreusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Peloreus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Peloreus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Peloreus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PendulumIMember"
      xlink:href="sblk-20170630.xsd#sblk_PendulumIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PendulumIMember" xlink:to="sblk_PendulumIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Pendulum.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pendulum I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pendulum</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
      xlink:to="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for administrative personnel pension plans of the Company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pension Retirement Benefit Obligations Administrative Personnel [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension indemnities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred"
      xlink:href="sblk-20170630.xsd#sblk_PercentOfQuarterlyInstallmentsDeferred" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PercentOfQuarterlyInstallmentsDeferred"
      xlink:to="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Percent of quarterly installments deferred.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percent Of Quarterly Installments Deferred</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percent of quarterly installments deferred</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PercentageOfEquityUsedForAcquisition"
      xlink:href="sblk-20170630.xsd#sblk_PercentageOfEquityUsedForAcquisition" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PercentageOfEquityUsedForAcquisition"
      xlink:to="sblk_PercentageOfEquityUsedForAcquisition_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfEquityUsedForAcquisition_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of the equity used for the acquisition of the vessels, required to be prepaid under the terms of the Restructuring Supplemental Agreements.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfEquityUsedForAcquisition_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Equity Used For Acquisition</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfEquityUsedForAcquisition_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of the equity used for the acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PercentageOfFutureProceedsSold"
      xlink:href="sblk-20170630.xsd#sblk_PercentageOfFutureProceedsSold" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PercentageOfFutureProceedsSold"
      xlink:to="sblk_PercentageOfFutureProceedsSold_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of future proceeds sold to a third party related to the settlement of certain of the commercial claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Future Proceeds Sold</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of future proceeds sold</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount"
      xlink:href="sblk-20170630.xsd#sblk_PeriodicPaymentsDeferredAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PeriodicPaymentsDeferredAmount"
      xlink:to="sblk_PeriodicPaymentsDeferredAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of periodic payments deferred.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Periodic Payments Deferred, Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Periodic payments, amount deferred</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember"
      xlink:href="sblk-20170630.xsd#sblk_PiraeusBankS.A.TermLoanBMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoanBMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoanBMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loan B [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loan B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember"
      xlink:href="sblk-20170630.xsd#sblk_PiraeusBankS.A.TermLoanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoanMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loan A [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loan A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember"
      xlink:href="sblk-20170630.xsd#sblk_PiraeusBankS.A.TermLoansMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoansMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoansMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loans [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loans</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PoolAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_PoolAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PoolAgreementMember"
      xlink:to="sblk_PoolAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PoolAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pool Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PoolAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pool agreement ("CCL")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PortCharges"
      xlink:href="sblk-20170630.xsd#sblk_PortCharges" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PortCharges" xlink:to="sblk_PortCharges_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amounts charged by port authorities for the use of infrastructure.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Port Charges</label>
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Port charges</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
      xlink:href="sblk-20170630.xsd#sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
      xlink:to="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Possibility Of Sale Of Operating Vessels And Newbuildings [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Possibility of a sale of certain additional operating vessels and newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"
      xlink:href="sblk-20170630.xsd#sblk_ProceedsFromCancellationOfVesselsUnderConstruction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"
      xlink:to="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash inflow associated with the reassignment of the leases for newbuilding vessels back to the vessels' owner.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Cancellation Of Vessels Under Construction</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from cancellation of vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim"
      xlink:href="sblk-20170630.xsd#sblk_ProceedsReceivedOnTransferClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProceedsReceivedOnTransferClaim"
      xlink:to="sblk_ProceedsReceivedOnTransferClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Proceeds received on transfer of claim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds Received On Transfer Claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds received on transfer of claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProcurementServicesDailyFee"
      xlink:href="sblk-20170630.xsd#sblk_ProcurementServicesDailyFee" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProcurementServicesDailyFee"
      xlink:to="sblk_ProcurementServicesDailyFee_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The daily fee per vessel for procurement services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Procurement Services Daily Fee</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Procurement services daily fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProductShippingTradingMember"
      xlink:href="sblk-20170630.xsd#sblk_ProductShippingTradingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProductShippingTradingMember"
      xlink:to="sblk_ProductShippingTradingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Product Shipping &amp; Trading S.A.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Product Shipping Trading [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Product Shipping &amp; Trading S.A.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Product Shipping &amp; Trading S.A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PurchasePriceObligation"
      xlink:href="sblk-20170630.xsd#sblk_PurchasePriceObligation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PurchasePriceObligation"
      xlink:to="sblk_PurchasePriceObligation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Purchase price payable at the end of the bareboat charter.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Purchase Price Obligation</label>
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel purchase price obligation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RealizedGainLossOnForwardFreightAgreements"
      xlink:href="sblk-20170630.xsd#sblk_RealizedGainLossOnForwardFreightAgreements" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RealizedGainLossOnForwardFreightAgreements"
      xlink:to="sblk_RealizedGainLossOnForwardFreightAgreements_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The realized gain / (loss) of forward freight agreements, held at each balance sheet date, that was included in earnings for the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Realized Gain Loss On Forward Freight Agreements</label>
    <label xlink:type="resource"
      xlink:label="sblk_RealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Realized gain/(loss) on forward freight agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RebateAmount"
      xlink:href="sblk-20170630.xsd#sblk_RebateAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RebateAmount" xlink:to="sblk_RebateAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of rebate.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rebate Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rebate from previous manning agent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RebateFromPreviousManningAgentMember"
      xlink:href="sblk-20170630.xsd#sblk_RebateFromPreviousManningAgentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RebateFromPreviousManningAgentMember"
      xlink:to="sblk_RebateFromPreviousManningAgentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RebateFromPreviousManningAgentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rebate From Previous Manning Agent [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateFromPreviousManningAgentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rebate from Company's previous manning agent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReceivableConvertibleConversionRatio"
      xlink:href="sblk-20170630.xsd#sblk_ReceivableConvertibleConversionRatio" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReceivableConvertibleConversionRatio"
      xlink:to="sblk_ReceivableConvertibleConversionRatio_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Ratio applied to the conversion of receivable into equity with equity shares divided by the receivable amount in KRW.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivable Convertible Conversion Ratio</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion ratio</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash"
      xlink:href="sblk-20170630.xsd#sblk_ReceivablePercentageOfAmountPaidInCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReceivablePercentageOfAmountPaidInCash"
      xlink:to="sblk_ReceivablePercentageOfAmountPaidInCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount paid in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember"
      xlink:href="sblk-20170630.xsd#sblk_ReclassificationAdjustmentDueToSCRShortfallMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReclassificationAdjustmentDueToSCRShortfallMember"
      xlink:to="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Reclassification Adjustment Due To SCR Shortfall [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reclassification adjustment due to SCR shortfall</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RefundReceivableFromShipyardsMember"
      xlink:href="sblk-20170630.xsd#sblk_RefundReceivableFromShipyardsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RefundReceivableFromShipyardsMember"
      xlink:to="sblk_RefundReceivableFromShipyardsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RefundReceivableFromShipyardsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Refund Receivable From Shipyards [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RefundReceivableFromShipyardsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Refund receivable from the shipyards</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RehabilitationPlanMember"
      xlink:href="sblk-20170630.xsd#sblk_RehabilitationPlanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RehabilitationPlanMember"
      xlink:to="sblk_RehabilitationPlanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RehabilitationPlanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rehabilitation Plan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RehabilitationPlanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Korea Line Corporation, Rehabilitation plan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember"
      xlink:href="sblk-20170630.xsd#sblk_RelatedPartiesAgreementSaleOfVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RelatedPartiesAgreementSaleOfVesselMember"
      xlink:to="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreements with third parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Agreement Sale Of Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreement with a third party - Sale of Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RelatedPartiesCommissionsFees"
      xlink:href="sblk-20170630.xsd#sblk_RelatedPartiesCommissionsFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RelatedPartiesCommissionsFees"
      xlink:to="sblk_RelatedPartiesCommissionsFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Primarily represents commissions incurred in the period based upon the sale by related parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by related parties (such as a distributor or value added reseller).</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Commissions Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commissions - related parties (Note 3)</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RenascentiaMember"
      xlink:href="sblk-20170630.xsd#sblk_RenascentiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RenascentiaMember" xlink:to="sblk_RenascentiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Renascentia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Renascentia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Renascentia</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Renascentia (3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RenewalConsultancyAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_RenewalConsultancyAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RenewalConsultancyAgreementsMember"
      xlink:to="sblk_RenewalConsultancyAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Renewal consulting agreements with related parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Renewal Consultancy Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Renewal consultancy agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RentExpensePerMonth"
      xlink:href="sblk-20170630.xsd#sblk_RentExpensePerMonth" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RentExpensePerMonth"
      xlink:to="sblk_RentExpensePerMonth_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of monthly rent.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rent Expense Per Month</label>
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rent expense per month</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RestrictedCashCashEquivalentsMember"
      xlink:href="sblk-20170630.xsd#sblk_RestrictedCashCashEquivalentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RestrictedCashCashEquivalentsMember"
      xlink:to="sblk_RestrictedCashCashEquivalentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RestrictedCashCashEquivalentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted Cash And Cash Equivalents [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RestrictedCashCashEquivalentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legally restricted</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RestructuringLetterAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_RestructuringLetterAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RestructuringLetterAgreementsMember"
      xlink:to="sblk_RestructuringLetterAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RestructuringLetterAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restructuring Letter Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RestructuringLetterAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restructuring Letter Agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock"
      xlink:to="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the results of operations for companies acquired, since the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Results Of Operations For Companies Acquired [TableText Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Results Of Operations For Companies Acquired</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_RevenueExpenseRecognitionPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RevenueExpenseRecognitionPolicyTextBlock"
      xlink:to="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy regarding recognition of revenue and related expenses.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Revenue Expense Recognition [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting for revenue and related expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReverseStockSplitMember"
      xlink:href="sblk-20170630.xsd#sblk_ReverseStockSplitMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReverseStockSplitMember"
      xlink:to="sblk_ReverseStockSplitMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReverseStockSplitMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Reverse Stock Split [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReverseStockSplitMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reverse stock split</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RobertaMember"
      xlink:href="sblk-20170630.xsd#sblk_RobertaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RobertaMember" xlink:to="sblk_RobertaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Roberta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Roberta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Roberta</label>
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Roberta (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SWSVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_SWSVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SWSVesselsMember" xlink:to="sblk_SWSVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SWSVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">SWS Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SWSVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">SWS Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SaleLeasebackArrangementMember"
      xlink:href="sblk-20170630.xsd#sblk_SaleLeasebackArrangementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleLeasebackArrangementMember"
      xlink:to="sblk_SaleLeasebackArrangementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleLeasebackArrangementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Arrangement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleLeasebackArrangementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale Leaseback arrangement with CSSC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SaleOfFutureClaimsProceeds"
      xlink:href="sblk-20170630.xsd#sblk_SaleOfFutureClaimsProceeds" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleOfFutureClaimsProceeds"
      xlink:to="sblk_SaleOfFutureClaimsProceeds_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount received from selling a percentage of interest in future proceeds, related to recovery of commercial claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Of Future Claims Proceeds</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of future claims proceeds</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SaleVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_SaleVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleVesselsMember" xlink:to="sblk_SaleVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Of Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SandraMember"
      xlink:href="sblk-20170630.xsd#sblk_SandraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SandraMember" xlink:to="sblk_SandraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Pauline.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sandra [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Pauline</label>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Pauline (ex Sandra)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
      xlink:to="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of fair value measurements on a nonrecurring basis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Fair Value Measurements On Non Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value measurements on Non recurring basis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_SchedulePurchasePriceAllocation1TableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SchedulePurchasePriceAllocation1TableTextBlock"
      xlink:to="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Purchase Price Allocation1 [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Purchase Price Allocation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ScrapValuePerLightWeightTon"
      xlink:href="sblk-20170630.xsd#sblk_ScrapValuePerLightWeightTon" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ScrapValuePerLightWeightTon"
      xlink:to="sblk_ScrapValuePerLightWeightTon_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">the scrap value of vessels per light weight ton (lwt).</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Scrap Value Per Light Weight Ton</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">scrap value per light weight ton</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Second-priorityMortgageMember"
      xlink:href="sblk-20170630.xsd#sblk_Second-priorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Second-priorityMortgageMember"
      xlink:to="sblk_Second-priorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Second-priorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Second-priority mortgage [member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Second-priorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second-priority mortgage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SecondInstallmentMember"
      xlink:href="sblk-20170630.xsd#sblk_SecondInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SecondInstallmentMember"
      xlink:to="sblk_SecondInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SecondInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Second Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SecondInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SecondPriorityMortgageMember"
      xlink:href="sblk-20170630.xsd#sblk_SecondPriorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SecondPriorityMortgageMember"
      xlink:to="sblk_SecondPriorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SecondPriorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Second Priority Mortgage [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SecondPriorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second-priority mortgage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SerenityIMember"
      xlink:href="sblk-20170630.xsd#sblk_SerenityIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SerenityIMember" xlink:to="sblk_SerenityIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Serenity I.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Serenity I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Serenity I</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration"
      xlink:href="sblk-20170630.xsd#sblk_ServicesAgreementAnnualLumpFeeRemuneration" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementAnnualLumpFeeRemuneration"
      xlink:to="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Annual lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Annual Lump Fee Remuneration</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Annual lump sum fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"
      xlink:href="sblk-20170630.xsd#sblk_ServicesAgreementDailyFeeRemunerationPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"
      xlink:to="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Daily fee per vessel, as part of the Services Agreement for procurement services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Daily Fee Remuneration Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daily management fee per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_ServicesAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMember"
      xlink:to="sblk_ServicesAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Services agreement with related parties for chartering, brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Services Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
      xlink:href="sblk-20170630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
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    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Monthly lump fee per vessel, as part of an agreement for commercial, technical, crewing or brokering services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Monthly Lump Fee Remuneration Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Monthly lump sum management fee per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"
      xlink:href="sblk-20170630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemuneration" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"
      xlink:to="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Monthly lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Monthly Lump Fee Remuneration</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Monthly lump sum fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember"
      xlink:href="sblk-20170630.xsd#sblk_SettlementAgreementWithIshharOverseasFZEMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SettlementAgreementWithIshharOverseasFZEMember"
      xlink:to="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Settlement Agreement With Ishhar Overseas FZE [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement agreement with Ishhar</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
      xlink:href="sblk-20170630.xsd#sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
      xlink:to="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Weighted average remaining contractual term for option awards outstanding.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Outstanding at January 1, 2015</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term 3</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Outstanding as of June 30, 2015</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"
      xlink:href="sblk-20170630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Date which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in CCYY-MM-DD format.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By ShareBased Payment Award Award Vesting Date</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vesting date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
      xlink:href="sblk-20170630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Grant Date Fair Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Grant date fair value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
      xlink:href="sblk-20170630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of equity-based payment instruments that has vested during the reporting period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Vested In Period</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares vested</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of shares vested during the period</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
      xlink:href="sblk-20170630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of non-vested options exercised.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share based Compensation Arrangement By Share based Payment Award Options Non vested Options Exercised Number Of Shares</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercised</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
      xlink:href="sblk-20170630.xsd#sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
      xlink:to="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Weighted average grant-date fair value of non-vested options exercised.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Options Exercised Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercised</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight"
      xlink:href="sblk-20170630.xsd#sblk_ShareholderAgreementDirectorsNominationRight" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareholderAgreementDirectorsNominationRight"
      xlink:to="sblk_ShareholderAgreementDirectorsNominationRight_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Description of the shareholders agreement under which the shareholders have the right to nominate specific number of directors, according to the percentage of voting securities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Shareholder Agreement Directors Nomination Right</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oaktree Shareholders Agreement Drirectors Nomination right</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShipProcurementServicesS.A.Member"
      xlink:href="sblk-20170630.xsd#sblk_ShipProcurementServicesS.A.Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShipProcurementServicesS.A.Member"
      xlink:to="sblk_ShipProcurementServicesS.A.Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Ship Procurement Services S.A..</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Ship Procurement Services S.A. [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ship Procurement Services S.A. ("SPS")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShipbuildingContractsTerminationMember"
      xlink:href="sblk-20170630.xsd#sblk_ShipbuildingContractsTerminationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShipbuildingContractsTerminationMember"
      xlink:to="sblk_ShipbuildingContractsTerminationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShipbuildingContractsTerminationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Shipbuilding Contracts Termination [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipbuildingContractsTerminationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shipbuilding contracts termination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SignificantCharterersMember"
      xlink:href="sblk-20170630.xsd#sblk_SignificantCharterersMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SignificantCharterersMember"
      xlink:to="sblk_SignificantCharterersMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SignificantCharterersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Significant charterers [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SignificantCharterersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Significant charterers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SinosureFacilityMember"
      xlink:href="sblk-20170630.xsd#sblk_SinosureFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SinosureFacilityMember"
      xlink:to="sblk_SinosureFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Sinosure.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sinosure Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sinosure Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SpanishPortAuthoritiesFinesMember"
      xlink:href="sblk-20170630.xsd#sblk_SpanishPortAuthoritiesFinesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SpanishPortAuthoritiesFinesMember"
      xlink:to="sblk_SpanishPortAuthoritiesFinesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SpanishPortAuthoritiesFinesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Spanish Port Authorities Fines [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SpanishPortAuthoritiesFinesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Spanish port authorities environmental fines</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAlineMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAlineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAlineMember" xlink:to="sblk_StarAlineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aline.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aline [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aline</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAlphaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAlphaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAlphaMember" xlink:to="sblk_StarAlphaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aplha.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Alpha [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Alpha (ex A Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Alpha (ex A Duckling) - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAngelinaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAngelinaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAngelinaMember" xlink:to="sblk_StarAngelinaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Angelina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Angelina [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Angelina</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAngieMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAngieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAngieMember" xlink:to="sblk_StarAngieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Angie.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Angie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Angie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAntaresMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAntaresMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAntaresMember" xlink:to="sblk_StarAntaresMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAntaresMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Antares [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAntaresMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Antares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAquariusMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAquariusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAquariusMember" xlink:to="sblk_StarAquariusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aquarius ( ex-HN 5040).</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aquarius [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aquarius ( ex-HN 5040)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Aquarius</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAriadneMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAriadneMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAriadneMember" xlink:to="sblk_StarAriadneMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAriadneMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Ariadne [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAriadneMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Ariadne</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAriesMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAriesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAriesMember" xlink:to="sblk_StarAriesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAriesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aries [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAriesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAuroraMember"
      xlink:href="sblk-20170630.xsd#sblk_StarAuroraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAuroraMember" xlink:to="sblk_StarAuroraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aurora.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aurora [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aurora</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBetaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBetaMember" xlink:to="sblk_StarBetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Beta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Beta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Beta (ex B Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Beta (ex B Duckling) - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBigAndStarMegaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBigAndStarMegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBigAndStarMegaMember"
      xlink:to="sblk_StarBigAndStarMegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBigAndStarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Big And Star Mega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigAndStarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Big and Star Mega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBigMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBigMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBigMember" xlink:to="sblk_StarBigMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Big.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Big [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Big</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisIIIMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBorealisIIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisIIIMember"
      xlink:to="sblk_StarBorealisIIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis III [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisIIMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBorealisIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisIIMember"
      xlink:to="sblk_StarBorealisIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBorealisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisMember" xlink:to="sblk_StarBorealisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Borealis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember"
      xlink:href="sblk-20170630.xsd#sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember"
      xlink:to="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Bulk Carriers Corporation And Bocimar International NV And Golden Ocean Group Limited And C Transport Holding Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Bulk Carriers Corp., Bocimar International NV, Golden Ocean Group Limited and C Transport Holding Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChallenger1Member"
      xlink:href="sblk-20170630.xsd#sblk_StarChallenger1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChallenger1Member"
      xlink:to="sblk_StarChallenger1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChallenger1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Challenger 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallenger1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Challenger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChallengerMember"
      xlink:href="sblk-20170630.xsd#sblk_StarChallengerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChallengerMember"
      xlink:to="sblk_StarChallengerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Challenger.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Challenger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Challenger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarCharisMember"
      xlink:href="sblk-20170630.xsd#sblk_StarCharisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarCharisMember" xlink:to="sblk_StarCharisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarCharisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Charis [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCharisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Charis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChristiannaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarChristiannaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChristiannaMember"
      xlink:to="sblk_StarChristiannaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Christianna.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Christianna [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Christianna</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarClaudiaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarClaudiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarClaudiaMember" xlink:to="sblk_StarClaudiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Claudia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Claudia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Claudia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarCosmoMember"
      xlink:href="sblk-20170630.xsd#sblk_StarCosmoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarCosmoMember" xlink:to="sblk_StarCosmoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Cosmo.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Cosmo [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Cosmo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarCosmoReducedAmountMember"
      xlink:href="sblk-20170630.xsd#sblk_StarCosmoReducedAmountMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarCosmoReducedAmountMember"
      xlink:to="sblk_StarCosmoReducedAmountMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoReducedAmountMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Cosmo Reduced Amount [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoReducedAmountMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Cosmo reduced amount</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarDanaiMember"
      xlink:href="sblk-20170630.xsd#sblk_StarDanaiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarDanaiMember" xlink:to="sblk_StarDanaiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Danai.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Danai [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Danai</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarDeltaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarDeltaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarDeltaMember" xlink:to="sblk_StarDeltaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Delta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Delta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Delta (ex F Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Delta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEleonoraMember"
      xlink:href="sblk-20170630.xsd#sblk_StarEleonoraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEleonoraMember" xlink:to="sblk_StarEleonoraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Eleonora.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Eleonora [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Eleonora</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Eleonora (Note 19)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEmilyMember"
      xlink:href="sblk-20170630.xsd#sblk_StarEmilyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEmilyMember" xlink:to="sblk_StarEmilyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Emily.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Emily [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Emily</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member"
      xlink:href="sblk-20170630.xsd#sblk_StarEpsilonAndStarKappa1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEpsilonAndStarKappa1Member"
      xlink:to="sblk_StarEpsilonAndStarKappa1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Epsilon And Star Kappa 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Epsilon And Star Kappa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEpsilonMember"
      xlink:href="sblk-20170630.xsd#sblk_StarEpsilonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEpsilonMember" xlink:to="sblk_StarEpsilonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Epsilon.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Epsilon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Epsilon (ex G Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Epsilon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarFighter1Member"
      xlink:href="sblk-20170630.xsd#sblk_StarFighter1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarFighter1Member" xlink:to="sblk_StarFighter1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarFighter1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Fighter 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighter1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Fighter</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarFighterMember"
      xlink:href="sblk-20170630.xsd#sblk_StarFighterMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarFighterMember" xlink:to="sblk_StarFighterMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Fighter.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Fighter [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Fighter</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGammaAndStarCosmoMember"
      xlink:href="sblk-20170630.xsd#sblk_StarGammaAndStarCosmoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGammaAndStarCosmoMember"
      xlink:to="sblk_StarGammaAndStarCosmoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaAndStarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gamma And Star Cosmo [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaAndStarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gamma and Star Cosmo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGammaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarGammaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGammaMember" xlink:to="sblk_StarGammaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Gamma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gamma [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gamma (ex C Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Gamma</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGeorgiaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarGeorgiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGeorgiaMember" xlink:to="sblk_StarGeorgiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Georgia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Georgia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Georgia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGwynethMember"
      xlink:href="sblk-20170630.xsd#sblk_StarGwynethMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGwynethMember" xlink:to="sblk_StarGwynethMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Gwyneth.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gwyneth [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gwyneth</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarHelenaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarHelenaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarHelenaMember" xlink:to="sblk_StarHelenaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Helena.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Helena [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Helena</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarIrisMember"
      xlink:href="sblk-20170630.xsd#sblk_StarIrisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarIrisMember" xlink:to="sblk_StarIrisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Iris.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Iris [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Iris</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJenniferMember"
      xlink:href="sblk-20170630.xsd#sblk_StarJenniferMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJenniferMember" xlink:to="sblk_StarJenniferMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Jennifer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Jennifer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Jennifer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember"
      xlink:href="sblk-20170630.xsd#sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember"
      xlink:to="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Julia, Star Tatianna, Star Monika and Star Kim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Julia And Star Tatianna And Star Monika And Star Kim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Julia, Star Tatianna, Star Monika and Star Kim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJuliaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarJuliaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJuliaMember" xlink:to="sblk_StarJuliaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Julia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Julia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Julia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKamilaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarKamilaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKamilaMember" xlink:to="sblk_StarKamilaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kamila.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kamila [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kamila</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKappaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarKappaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKappaMember" xlink:to="sblk_StarKappaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kappa.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kappa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kappa (ex E Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Kappa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKimMember"
      xlink:href="sblk-20170630.xsd#sblk_StarKimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKimMember" xlink:to="sblk_StarKimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarLauraMember"
      xlink:href="sblk-20170630.xsd#sblk_StarLauraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarLauraMember" xlink:to="sblk_StarLauraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Laura.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Laura [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Laura</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarLeoAndStarMagnanimousMember"
      xlink:href="sblk-20170630.xsd#sblk_StarLeoAndStarMagnanimousMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarLeoAndStarMagnanimousMember"
      xlink:to="sblk_StarLeoAndStarMagnanimousMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarLeoAndStarMagnanimousMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Leo And Star Magnanimous [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLeoAndStarMagnanimousMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Magnanimous and Star Leo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarLibraMember"
      xlink:href="sblk-20170630.xsd#sblk_StarLibraMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Libra.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLibraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Libra [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLibraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Libra (1)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLibraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Libra</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarLutasMember"
      xlink:href="sblk-20170630.xsd#sblk_StarLutasMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarLutasMember" xlink:to="sblk_StarLutasMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarLutasMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Lutas [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLutasMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Lutas</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMariaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMariaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMariaMember" xlink:to="sblk_StarMariaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Maria.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Maria [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Maria</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMariellaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMariellaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMariellaMember" xlink:to="sblk_StarMariellaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Mariella.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Mariella [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Mariella</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMarisaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMarisaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMarisaMember" xlink:to="sblk_StarMarisaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMarisaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Marisa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarisaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Marisa</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarisaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Marisa (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMarkelaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMarkelaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMarkelaMember" xlink:to="sblk_StarMarkelaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Markella.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Markela [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Markella</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMegaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMegaMember" xlink:to="sblk_StarMegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Mega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Mega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Mega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMicheleMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMicheleMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMicheleMember" xlink:to="sblk_StarMicheleMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Michele.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Michele [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Michele</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMoiraMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMoiraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMoiraMember" xlink:to="sblk_StarMoiraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Moira.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Moira [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Moira</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMonikaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMonikaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMonikaMember" xlink:to="sblk_StarMonikaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Monika.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Monika [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Monika</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMorishaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarMorishaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMorishaMember" xlink:to="sblk_StarMorishaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Morisha.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Morisha [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Monisha</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNasiaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarNasiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNasiaMember" xlink:to="sblk_StarNasiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nasia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nasia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nasia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNatalieMember"
      xlink:href="sblk-20170630.xsd#sblk_StarNatalieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNatalieMember" xlink:to="sblk_StarNatalieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Natalie.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Natalie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Natalie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNicoleMember"
      xlink:href="sblk-20170630.xsd#sblk_StarNicoleMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNicoleMember" xlink:to="sblk_StarNicoleMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nicole.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nicole [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nicole</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember"
      xlink:href="sblk-20170630.xsd#sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember"
      xlink:to="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nina And Star Nicole And Star Claudia And Star Morisha And Rodon And Star Jennifer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNinaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarNinaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNinaMember" xlink:to="sblk_StarNinaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nina [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nina</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarOceanManningPhilipinesIncMember"
      xlink:href="sblk-20170630.xsd#sblk_StarOceanManningPhilipinesIncMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarOceanManningPhilipinesIncMember"
      xlink:to="sblk_StarOceanManningPhilipinesIncMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarOceanManningPhilipinesIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Ocean Manning Philipines Inc [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarOceanManningPhilipinesIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Ocean Manning Philipines Inc.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarOmicronMember"
      xlink:href="sblk-20170630.xsd#sblk_StarOmicronMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarOmicronMember" xlink:to="sblk_StarOmicronMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Omicron.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Omicron [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Omicron</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPiscesMember"
      xlink:href="sblk-20170630.xsd#sblk_StarPiscesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPiscesMember" xlink:to="sblk_StarPiscesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Pisces (ex-HN 5043).</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Pisces [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Pisces (ex-HN 5043)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Pisces</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPolarisMember"
      xlink:href="sblk-20170630.xsd#sblk_StarPolarisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPolarisMember" xlink:to="sblk_StarPolarisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Polaris.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Polaris [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Polaris</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPoseidonMember"
      xlink:href="sblk-20170630.xsd#sblk_StarPoseidonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPoseidonMember" xlink:to="sblk_StarPoseidonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPoseidonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Poseidon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPoseidonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Poseidon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarReneeMember"
      xlink:href="sblk-20170630.xsd#sblk_StarReneeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarReneeMember" xlink:to="sblk_StarReneeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Renee.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Renee [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Renee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigma2Member"
      xlink:href="sblk-20170630.xsd#sblk_StarSigma2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigma2Member" xlink:to="sblk_StarSigma2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigma2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigma2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSigmaAmountReceivedForFuelsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaAmountReceivedForFuelsMember"
      xlink:to="sblk_StarSigmaAmountReceivedForFuelsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma Amount Received For Fuels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma - Amount received for fuels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSigmaAmountReceivedInCashMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaAmountReceivedInCashMember"
      xlink:to="sblk_StarSigmaAmountReceivedInCashMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of cash received as compensation for the early redelivery of vessel Star Sigma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma Amount Received In Cash [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma - Amount received in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSigmaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaMember" xlink:to="sblk_StarSigmaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sigma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Sigma - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSirius2Member"
      xlink:href="sblk-20170630.xsd#sblk_StarSirius2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSirius2Member" xlink:to="sblk_StarSirius2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sirius.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sirius2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSiriusStarVega2Member"
      xlink:href="sblk-20170630.xsd#sblk_StarSiriusStarVega2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSiriusStarVega2Member"
      xlink:to="sblk_StarSiriusStarVega2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Sirius and Star Vega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">StarSiriusStarVega2[Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius and Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSiriusStarVegaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSiriusStarVegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSiriusStarVegaMember"
      xlink:to="sblk_StarSiriusStarVegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sirius Star Vega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius and Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSophiaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSophiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSophiaMember" xlink:to="sblk_StarSophiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sophia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sophia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sophia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSuzannaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarSuzannaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSuzannaMember" xlink:to="sblk_StarSuzannaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSuzannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Suzanna [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSuzannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Suzanna</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarTatiannaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarTatiannaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarTatiannaMember" xlink:to="sblk_StarTatiannaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Tatianna.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Tatianna [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Tatianna</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarThetaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarThetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarThetaMember" xlink:to="sblk_StarThetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Theta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Theta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Theta (ex J Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Theta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarVanessaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarVanessaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarVanessaMember" xlink:to="sblk_StarVanessaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Vanessa.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Vanessa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Vanessa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarVega2Member"
      xlink:href="sblk-20170630.xsd#sblk_StarVega2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarVega2Member" xlink:to="sblk_StarVega2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Vega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Vega2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarVirgoMember"
      xlink:href="sblk-20170630.xsd#sblk_StarVirgoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarVirgoMember" xlink:to="sblk_StarVirgoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarVirgoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Virgo [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVirgoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Virgo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarYpsilonMember"
      xlink:href="sblk-20170630.xsd#sblk_StarYpsilonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarYpsilonMember" xlink:to="sblk_StarYpsilonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Ypsilon.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Ypsilon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Ypsilon</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Ypsilon - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarZetaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarZetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarZetaMember" xlink:to="sblk_StarZetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Zeta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Zeta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Zeta (ex I Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Zeta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarbulkCarriersCorpMember"
      xlink:href="sblk-20170630.xsd#sblk_StarbulkCarriersCorpMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarbulkCarriersCorpMember"
      xlink:to="sblk_StarbulkCarriersCorpMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkCarriersCorpMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Starbulk Carriers Corp [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkCarriersCorpMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Starbulk Carriers Corp.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarbulkSaMember"
      xlink:href="sblk-20170630.xsd#sblk_StarbulkSaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarbulkSaMember" xlink:to="sblk_StarbulkSaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkSaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Starbulk Sa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkSaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Starbulk S.A.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Excel  transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Excel Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Excel Transactions (Note 1), shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Heron transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Heron Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Heron Transaction in escrow account (Note 1), shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Interchart Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Merger and the Pappas transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Merger and Pappas Transaction (Note 1), shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Excel transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Excel Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Excel Transactions (Note 1), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Heron transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Heron Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Heron Transaction in escrow account (Note 1), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Interchart Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"
      xlink:href="sblk-20170630.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Merger and the Pappas transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Merger and Pappas Transaction (Note 1), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice"
      xlink:href="sblk-20170630.xsd#sblk_StockRepurchaseProgramMaximumSharePrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockRepurchaseProgramMaximumSharePrice"
      xlink:to="sblk_StockRepurchaseProgramMaximumSharePrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum purchase price per share which has been authorized under the share repurchase plan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchase Program Maximum Share Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share repurchase program - maximum share price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio"
      xlink:href="sblk-20170630.xsd#sblk_StockholdersEquityReverseStockSplitRatio" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockholdersEquityReverseStockSplitRatio"
      xlink:to="sblk_StockholdersEquityReverseStockSplitRatio_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stockholders Equity Reverse Stock Split Ratio</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reverse stock split ratio</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StrangeAttractorIMember"
      xlink:href="sblk-20170630.xsd#sblk_StrangeAttractorIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StrangeAttractorIMember"
      xlink:to="sblk_StrangeAttractorIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Strange Attractor.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Strange Attractor I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Strange Attractor</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SupervisionCosts"
      xlink:href="sblk-20170630.xsd#sblk_SupervisionCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SupervisionCosts" xlink:to="sblk_SupervisionCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents supervision costs for newbuilding vessels paid on behalf of a related party.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Supervision Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Supervision costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SupramaxMember"
      xlink:href="sblk-20170630.xsd#sblk_SupramaxMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SupramaxMember" xlink:to="sblk_SupramaxMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SupramaxMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Supramax [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SupramaxMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Supramax</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SydelleMember"
      xlink:href="sblk-20170630.xsd#sblk_SydelleMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SydelleMember" xlink:to="sblk_SydelleMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SydelleMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sydelle [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SydelleMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sydelle profit sharing agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TerminationAgreementMember"
      xlink:href="sblk-20170630.xsd#sblk_TerminationAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TerminationAgreementMember"
      xlink:to="sblk_TerminationAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement to terminate the prior consultancy agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Termination Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreement to terminate the consultancy agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ThirdInstallmentMember"
      xlink:href="sblk-20170630.xsd#sblk_ThirdInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ThirdInstallmentMember"
      xlink:to="sblk_ThirdInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ThirdInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Third Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ThirdInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Third Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TmtCoMember"
      xlink:href="sblk-20170630.xsd#sblk_TmtCoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TmtCoMember" xlink:to="sblk_TmtCoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TmtCoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tmt Co [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TmtCoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">TMT Co</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TonnageTax"
      xlink:href="sblk-20170630.xsd#sblk_TonnageTax" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TonnageTax" xlink:to="sblk_TonnageTax_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The tonnage taxes for the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tonnage Tax</label>
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tonnage taxes</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TotalContractualPurchaseObligation"
      xlink:href="sblk-20170630.xsd#sblk_TotalContractualPurchaseObligation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TotalContractualPurchaseObligation"
      xlink:to="sblk_TotalContractualPurchaseObligation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The total amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation to be paid within and after one year from the balance sheet date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total Of Contractual Purchase Obligation</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total aggregate remaining contracted price plus agreed additional amounts</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TotalMember"
      xlink:href="sblk-20170630.xsd#sblk_TotalMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TotalMember" xlink:to="sblk_TotalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TotalMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1FirstFourInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche1FirstFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1FirstFourInstallmentsMember"
      xlink:to="sblk_Tranche1FirstFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche A First Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - First 4 installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche1InstallmentFiveToEighteenMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1InstallmentFiveToEighteenMember"
      xlink:to="sblk_Tranche1InstallmentFiveToEighteenMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Installment Five To Eighteen [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - Installment five to seventeen</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche1InstallmentsFiveToSeventeenMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1InstallmentsFiveToSeventeenMember"
      xlink:to="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Installments Five To Seventeen [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - 5th Installment to 17th</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche1LastElevenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1LastElevenInstallmentsMember"
      xlink:to="sblk_Tranche1LastElevenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Last Eleven Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - Last eleven installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1Member"
      xlink:href="sblk-20170630.xsd#sblk_Tranche1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1Member" xlink:to="sblk_Tranche1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first tranche.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche2FirstFourInstallmentMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche2FirstFourInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2FirstFourInstallmentMember"
      xlink:to="sblk_Tranche2FirstFourInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2FirstFourInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 First Four Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2FirstFourInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B - First four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_Tranche2LastTwentyFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2LastTwentyFourInstallmentsMember"
      xlink:to="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 Last Twenty Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B - Last twenty four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche2Member"
      xlink:href="sblk-20170630.xsd#sblk_Tranche2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2Member" xlink:to="sblk_Tranche2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche3Member"
      xlink:href="sblk-20170630.xsd#sblk_Tranche3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche3Member" xlink:to="sblk_Tranche3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche C</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TrancheDMember"
      xlink:href="sblk-20170630.xsd#sblk_TrancheDMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TrancheDMember" xlink:to="sblk_TrancheDMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TrancheDMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche D [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TrancheDMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche D</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TrancheFirstInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_TrancheFirstInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TrancheFirstInstallmentsMember"
      xlink:to="sblk_TrancheFirstInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TrancheFirstInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche A First Twenty Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TrancheFirstInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - First 20 installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TrancheLastSixteenInstallmentsMember"
      xlink:href="sblk-20170630.xsd#sblk_TrancheLastSixteenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TrancheLastSixteenInstallmentsMember"
      xlink:to="sblk_TrancheLastSixteenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TrancheLastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche A Last Sixteen Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TrancheLastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - Last 16 installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TsuEbisuMember"
      xlink:href="sblk-20170630.xsd#sblk_TsuEbisuMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TsuEbisuMember" xlink:to="sblk_TsuEbisuMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Tsu Ebisu.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tsu Ebisu [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tsu Ebisu</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_TwentyFourNewbuildingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwentyFourNewbuildingVesselsMember"
      xlink:to="sblk_TwentyFourNewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Twenty Four Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">24 new building vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwoCompanyDirectorsMember"
      xlink:href="sblk-20170630.xsd#sblk_TwoCompanyDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwoCompanyDirectorsMember"
      xlink:to="sblk_TwoCompanyDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Two Company Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Directors Mr Softeland and Mr Erhardt</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Two Company Directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwoDirectorsMember"
      xlink:href="sblk-20170630.xsd#sblk_TwoDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwoDirectorsMember" xlink:to="sblk_TwoDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwoDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Two Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Two directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwoNewbuildingContractsMember"
      xlink:href="sblk-20170630.xsd#sblk_TwoNewbuildingContractsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Two Newbuilding Contracts [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoNewbuildingContractsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Two newbuilding contracts</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UltramaxVesselsMember"
      xlink:href="sblk-20170630.xsd#sblk_UltramaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UltramaxVesselsMember"
      xlink:to="sblk_UltramaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UltramaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Ultramax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_UltramaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ultramax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UnrealizedGainLossOnForwardFreightAgreements"
      xlink:href="sblk-20170630.xsd#sblk_UnrealizedGainLossOnForwardFreightAgreements" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UnrealizedGainLossOnForwardFreightAgreements"
      xlink:to="sblk_UnrealizedGainLossOnForwardFreightAgreements_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The net change in the difference between the fair value, of forward freight agreements, held at each balance sheet date, that was included in earnings for the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Unrealized Gain Loss On Forward Freight Agreements</label>
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedGainLossOnForwardFreightAgreements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrealized gain/(loss) on forward freight agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UnrealizedMember"
      xlink:href="sblk-20170630.xsd#sblk_UnrealizedMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UnrealizedMember" xlink:to="sblk_UnrealizedMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Unrealized [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrealized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UpgradingExpense"
      xlink:href="sblk-20170630.xsd#sblk_UpgradingExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UpgradingExpense" xlink:to="sblk_UpgradingExpense_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The upgrading expenses incurred during the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Upgrading Expense</label>
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Upgrading expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage"
      xlink:href="sblk-20170630.xsd#sblk_VesselAcquisitionCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselAcquisitionCommissionPercentage"
      xlink:to="sblk_VesselAcquisitionCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commission paid to an entity related to negotiations made, with a shipyard, regarding a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Acquisition Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel acquisition commission percentage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselAcquisitionContractPrice"
      xlink:href="sblk-20170630.xsd#sblk_VesselAcquisitionContractPrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselAcquisitionContractPrice"
      xlink:to="sblk_VesselAcquisitionContractPrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel shipbuilding or purchase price in aggregate, as stated in the contract.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Acquisition Contract Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregate acquisition price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselCapacity"
      xlink:href="sblk-20170630.xsd#sblk_VesselCapacity" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselCapacity" xlink:to="sblk_VesselCapacity_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel's capacity in deadweight tonnage.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Capacity</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DWT</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselGross"
      xlink:href="sblk-20170630.xsd#sblk_VesselGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselGross" xlink:to="sblk_VesselGross_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Gross amount of vessel acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Gross</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselNet"
      xlink:href="sblk-20170630.xsd#sblk_VesselNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselNet" xlink:to="sblk_VesselNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The carrying amount of the vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount of vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessel value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_VesselOperatingExpensesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselOperatingExpensesTableTextBlock"
      xlink:to="sblk_VesselOperatingExpensesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Operating Expenses [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselRedeliveryDate"
      xlink:href="sblk-20170630.xsd#sblk_VesselRedeliveryDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselRedeliveryDate"
      xlink:to="sblk_VesselRedeliveryDate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The date the vessel was redelivered from the charterer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Redelivery Date</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redelivery date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselType"
      xlink:href="sblk-20170630.xsd#sblk_VesselType" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselType" xlink:to="sblk_VesselType_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The type of vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Type</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Type</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselYearBuilt"
      xlink:href="sblk-20170630.xsd#sblk_VesselYearBuilt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselYearBuilt" xlink:to="sblk_VesselYearBuilt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The year that the vessel was built.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Year Built</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Year Built</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAcquired"
      xlink:href="sblk-20170630.xsd#sblk_VesselsAcquired" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAcquired" xlink:to="sblk_VesselsAcquired_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels acquired</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet"
      xlink:href="sblk-20170630.xsd#sblk_VesselsAndAdvancesForVesselsUnderConstructionNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet"
      xlink:to="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreegate amount after accumulated depreciation of operating vessels and advances for newbuilding vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels And Advances For Vessels Under Construction Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating and newbuilding vessels, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet"
      xlink:href="sblk-20170630.xsd#sblk_VesselsAndOtherFixedAssetsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAndOtherFixedAssetsNet"
      xlink:to="sblk_VesselsAndOtherFixedAssetsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents vessels and other fixed assets, net of accumulated depreciation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels And Other Fixed Assets Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net (Note 5)</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessels and other fixed assets, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsDelivered"
      xlink:href="sblk-20170630.xsd#sblk_VesselsDelivered" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsDelivered" xlink:to="sblk_VesselsDelivered_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels delivered.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Delivered</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_VesselsHeldForSalePolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsHeldForSalePolicyTextBlock"
      xlink:to="sblk_VesselsHeldForSalePolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for vessels held for sale.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Held For Sale Policy [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels held for sale</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsInOperationIIMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsInOperationIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsInOperationIIMember"
      xlink:to="sblk_VesselsInOperationIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels In Operation II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels in operation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsInOperationsMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsInOperationsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsInOperationsMember"
      xlink:to="sblk_VesselsInOperationsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels in operation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels In Operations [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels in operation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsNetMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsNetMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsNetMember" xlink:to="sblk_VesselsNetMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Net [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsNet"
      xlink:href="sblk-20170630.xsd#sblk_VesselsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsNet" xlink:to="sblk_VesselsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessel cost net of accumulated depreciation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels' net book value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalesAgreementsMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsSalesAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalesAgreementsMember"
      xlink:to="sblk_VesselsSalesAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sales Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels sales agreements in 2015 and 2016</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalesMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsSalesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalesMember" xlink:to="sblk_VesselsSalesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sales [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon"
      xlink:href="sblk-20170630.xsd#sblk_VesselsSalvageValuePerLightWeightTon" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalvageValuePerLightWeightTon"
      xlink:to="sblk_VesselsSalvageValuePerLightWeightTon_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The estimated vessels' salvage value per lightweight ton.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Salvage Value Per Light Weight Ton</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel salvage value per LWT</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSold"
      xlink:href="sblk-20170630.xsd#sblk_VesselsSold" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSold" xlink:to="sblk_VesselsSold_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels sold.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sold</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels sold</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSubsequentlyRecognizedAsHeldForSale"
      xlink:href="sblk-20170630.xsd#sblk_VesselsSubsequentlyRecognizedAsHeldForSale" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSubsequentlyRecognizedAsHeldForSale"
      xlink:to="sblk_VesselsSubsequentlyRecognizedAsHeldForSale_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSubsequentlyRecognizedAsHeldForSale_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The carrying value of the Company's vessels, which did not meet the criteria as held for sale as of the balance sheet date, but met these criteria after the balance sheet date and before the issuance of the Company's financial statements.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSubsequentlyRecognizedAsHeldForSale_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Subsequently Recognized As Held For Sale</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSubsequentlyRecognizedAsHeldForSale_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels subsequently recognized as held for sale</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsUnderConstructionMember"
      xlink:href="sblk-20170630.xsd#sblk_VesselsUnderConstructionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsUnderConstructionMember"
      xlink:to="sblk_VesselsUnderConstructionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Under Construction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageExpensesTableTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_VoyageExpensesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageExpensesTableTextBlock"
      xlink:to="sblk_VoyageExpensesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related parties).</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage Expenses Table [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageExpenses"
      xlink:href="sblk-20170630.xsd#sblk_VoyageExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageExpenses" xlink:to="sblk_VoyageExpenses_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Costs relating to the voyages performed by the vessels and may include port, canal, bunker expenses, commissions and other.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageRevenues"
      xlink:href="sblk-20170630.xsd#sblk_VoyageRevenues" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageRevenues" xlink:to="sblk_VoyageRevenues_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Revenues arising from services provided to charterers according to the terms and conditions included in charter agreements. Voyage revenues may include the amortization of above/below market acquired time charter.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage Revenues</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage revenues</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Revenue loss due to engine failure</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock"
      xlink:href="sblk-20170630.xsd#sblk_VoyageVesselOperatingExpensesTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageVesselOperatingExpensesTextBlock"
      xlink:to="sblk_VoyageVesselOperatingExpensesTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This entire disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related parties) and Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage And Vessel Operating Expenses [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage and Vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WolverineMember"
      xlink:href="sblk-20170630.xsd#sblk_WolverineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_WolverineMember" xlink:to="sblk_WolverineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Wolverine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Wolverine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Wolverine</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
      xlink:href="sblk-20170630.xsd#sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
      xlink:to="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Write Off Of Unamortized Fair Value Of Below Market Acquired Time Charter On Vessel Redelivery</label>
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gain on time charter agreement termination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
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    <labelArc xlink:type="arc"
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      xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Arrangements and Non-arrangement Transactions [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2021</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2021</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Three</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2020</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Two</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2019</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capita Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2019</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capita lLeases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2018</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Twelve month periods ending</label>
    <loc xlink:type="locator"
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    <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"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due Thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2022 and thereafter</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total capital lease minimum payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Interest Included In Payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excluding bareboat interest</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Net Minimum Payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total lease commitments, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Next Rolling Twelve Months</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2018</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total lease commitments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2015</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable Due Thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl"
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    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable In Five Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable In Four Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2016</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivable_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital leased assets, Accumulated depreciation</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis" />
    <labelArc xlink:type="arc"
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      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due In Fourth Year</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due In Next Twelve Months</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due In Second Year</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due In Third Year</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Conversion Description [Axis]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shares issued</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Collateral Amount</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount of vessels pledged as collateral</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Vessels provided as security</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion ratio</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Covenant Compliance</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Covenant compliance</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Covenant description</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan covenants</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Date of First Required Payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentDateOfFirstRequiredPayment1_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of first required payment</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loan reference interest rate</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Face Amount</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Face amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Frequency of Periodic Payment</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Interest Rate, Increase (Decrease)</label>
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      xlink:label="us-gaap_DebtInstrumentInterestRateIncreaseDecrease_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate, Margin increase</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Interest Rate, Stated Percentage</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentIssuanceDate1"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Issuance Date</label>
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      xlink:label="us-gaap_DebtInstrumentIssuanceDate1_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentLineItems"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term debt [Line Items]</label>
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      xlink:label="us-gaap_DebtInstrumentMaturityDate"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Maturity Date</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity date</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loan repayment terms</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Balloon installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Periodic Payment</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redemption description</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption, Period [Axis]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption, Period [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">At any time, From issuance until maturity</label>
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      xlink:label="us-gaap_DebtInstrumentRedemptionPeriodTwoMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Period Two, On or after November 15, 2016 until maturity</label>
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      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" />
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentage_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption Price, Percentage</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentRedemptionPricePercentage_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redemption price percentage</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentRestrictiveCovenants_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Restrictive Covenants</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentTerm"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentTerm" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_DebtInstrumentTerm"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentTerm_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Term</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentTerm_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment period</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unamortized deferred finance fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unamortized Deferred financing fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" />
    <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" />
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Undrawn amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Unused Borrowing Capacity, Fee</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unused credit facilities, commitment fee</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Longterm And Shortterm Combined Amount</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term debt, including current portion</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DebtPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtPolicyTextBlock" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Policy Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DebtPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financing costs</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DecreaseInRestrictedCash"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DecreaseInRestrictedCash" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Decrease In Restricted Cash</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DecreaseInRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease in restricted cash</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DecreaseInRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease in restricted cash</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault" />
    <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" />
    <label xlink:type="resource"
      xlink:label="us-gaap_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Debt Default, Description of Violation or Event of Default</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DeferredCostsCurrentAndNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredCostsCurrentAndNoncurrent" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deferred Costs</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredCostsCurrentAndNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital expenditures deferred</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DeferredFinanceCostsNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredFinanceCostsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_DeferredFinanceCostsNet"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredFinanceCostsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Issuance Costs, Net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredFinanceCostsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unamortized Deferred financing fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredFinanceCostsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Unamortized deferred finance fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet" />
    <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" />
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deferred finance charges, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DeferredRevenueCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredRevenueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deferred revenue, current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredRevenueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred revenue</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DeferredRevenueNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_DeferredRevenueNoncurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deferred revenue, non-current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred revenue</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_Depreciation"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Depreciation" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Depreciation (Note 6)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Depreciation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Depreciation</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetNotionalAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative asset, Notional amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DerivativeAssetsCurrent"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Asset, Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative asset, current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Forward freight agreements - asset position</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DerivativeAssetsNoncurrent"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets Noncurrent</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative asset (Note 19)</label>
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      xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_DerivativeAssets"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DerivativeContractTypeDomain"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_DerivativeContractTypeDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeContractTypeDomain_lbl"
      xml:lang="en-US"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative lower fixed Interest Rate Range</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative lower fixed interest rate range</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Maturity Dates</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity date</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expiry</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative [Table]</label>
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    <labelArc xlink:type="arc"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivatives, Fair Value [Line Items]</label>
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      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativesPolicyTextBlock" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivatives Policy [Text Block]</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivatives</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Description of Lessee Leasing Arrangements, Capital Leases</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Description of Capital leases, Term of contract</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DescriptionOfLocationOfGainLossOnInterestRateDerivativeOnIncomeStatement"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Description of Location of Gain (Loss) on Interest Rate Derivative on Income Statement</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reporting location on Income Statement</label>
    <loc xlink:type="locator"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Description of New Accounting Pronouncements Not yet Adopted [Text Block]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recent accounting pronouncements - not yet adopted</label>
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Designated As Hedging Instrument [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Designated as cash flow hedges</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_DilutiveSecuritiesAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DilutiveSecuritiesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Dilutive Securities [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DilutiveSecuritiesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of dilutive securities:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_DirectOperatingMaintenanceSuppliesCosts"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Direct Operating Maintenance Supplies Costs</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DirectOperatingMaintenanceSuppliesCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maintenance, repairs, spares and stores</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plans:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plans [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock" />
    <labelArc xlink:type="arc"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of non-vested shares and weighted average grant date fair value</label>
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      xlink:label="us-gaap_DisposalDate1"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Disposal Date</label>
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      xlink:label="us-gaap_DisposalDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disposal date</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Disposal Group, Including Discontinued Operation, Consideration</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contracted sale price</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels held for sale</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disposal group, Impairment loss, Write down to fair value</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Dividends declared and paid ($0.675 per share)</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_DividendsPreferredStockCash_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Dividends paid to nonvested shares</label>
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      xlink:label="us-gaap_DividendsShareBasedCompensationCash"
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    <labelArc xlink:type="arc"
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      xlink:label="us-gaap_DividendsShareBasedCompensationCash_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Dividends, Share-based Compensation, Cash</label>
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      xlink:label="us-gaap_DividendsShareBasedCompensationCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividends on non-vested shares</label>
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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      xlink:label="us-gaap_InterestExpenseRelatedParty"
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      xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense Related Party</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestExpenseRelatedParty_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest and finance costs to Bridge Facility from related parties (Note 9)</label>
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      xlink:label="us-gaap_InterestExpenseRelatedParty_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Less: Interest and finance costs to Bridge Facility from related parties presented separately in the statement of operations</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestExpense"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InterestExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest on long term debt and capital leases</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Interest expense</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Income And Interest Expense Disclosure [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest and finance costs</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestPaidCapitalized"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_InterestPaidCapitalized"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InterestPaidCapitalized_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capitalized Interest</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestPaidNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestPaidNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestPaidNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest, net of amount capitalized</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestPaidNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet"
      xlink:to="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income (Note 15)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestRateDerivativeAssetsAtFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_InterestRateDerivativeAssetsAtFairValue"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Derivative Assets, at Fair Value</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateDerivativeAssetsAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate swaps - asset position</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestRateDerivativeLiabilitiesAtFairValue" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Derivative Liabilities, at Fair Value</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateDerivativeLiabilitiesAtFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate swaps - liability position</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InterestRateSwapMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestRateSwapMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InterestRateSwapMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate swap</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InventoryDisclosureAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryDisclosureAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_InventoryDisclosureAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryDisclosureAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inventories [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InventoryDisclosureTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_InventoryDisclosureTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inventories Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inventories:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InventoryNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryNet" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inventories (Note 4)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inventories</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_InventoryPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryPolicyTextBlock" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inventory Policy Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_InventoryPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inventories</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LeaseAgreementsMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseAgreementsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lease Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeaseAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC lease arrangement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LeaseAndRentalExpense"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseAndRentalExpense" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rent expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeaseAndRentalExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charter-in hire expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeaseAndRentalExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Office Rent - Combine Maritime Ltd. (c)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeaseAndRentalExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Office rent</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LeaseExpirationDate1"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LeaseExpirationDate1"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LeaseExpirationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lease Expiration Date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LeasePolicyTextBlock"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LeasePolicyTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LeasePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lease Policy [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeasePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting for leases</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LeasesCapitalAbstract"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LeasesCapitalAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LeasesCapitalAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Leases Capital [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LeasesCapitalAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital leases</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LegalFees"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LegalFees_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Matters And Contingencies [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal matters</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lessee Leasing Arrangements, Operating Leases, Renewal Term</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesRenewalTerm_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lease agreements, Office space, Renewal term</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lessee Leasing Arrangements, Operating Leases, Term of Contract</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Leasing arrangements, Term of time charter contract</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Leasing agreements, Office space, Term of contract</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LiabilitiesAbstract"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">LIABILITIES</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Liabilities Current [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CURRENT LIABILITIES</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Total current liabilities</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Current Liabilities</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Liabilities Noncurrent [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">NON-CURRENT LIABILITIES</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Total Non - Current Liablilities</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Non - Current Liablilities</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">TOTAL LIABILITIES</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Liabilities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">TOTAL LIABILITIES</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Liabilities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Total liabilities acquired</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility [Abstract]</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lender Name [Axis]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Collateral</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCollateral_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels provided as collateral</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Commitment Fee Percentage</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitment fee percentage</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantCompliance"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Covenant Compliance</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Covenant Terms</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Date of First Required Payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of first required payment</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDescription_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Description</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDescription_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restructuring agreement description</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Dividend Restrictions</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Expiration Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expiration date</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Frequency of Payment and Payment Terms</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments and payment terms</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Frequency Of Payments</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Initiation Date</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Initiation date</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Lender [Domain]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility [Line Items]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Maximum Borrowing Capacity</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum borrowing capacity</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Periodic Payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment installment</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditMember"
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      xlink:from="us-gaap_LineOfCreditMember"
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      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit [Member]</label>
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    <label xlink:type="resource"
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      xlink:label="us-gaap_LongTermDebtRollingMaturityAbstract"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Twelve month periods ending</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long term Debt [Text Block]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term Debt:</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Total</label>
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      xlink:label="us-gaap_LongTermDebt_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan amount</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Long term debt, net</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermInvestments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Long Term Investment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermInvestments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term investment (Note 3)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongTermLoansFromBank"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long term debt, net of current portion and unamortized deferred finance fees of $9,214 and $8,263, respectively (Note 8)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermLoansFromBank_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term debt - non-current portion</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermLoansFromBank_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Long term debt, net</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongtermDebtTypeAxis_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongtermDebtTypeDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongtermDebtTypeDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Weighted average interest rate</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingenciesLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingenciesLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingenciesLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingencies [Line Items]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingenciesTable"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingenciesTable" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingenciesTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingencies [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyClaimsSettledNumber"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyClaimsSettledNumber_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Claims Settled, Number</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyClaimsSettledNumber_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of claims settled</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyExpectedTrialCommencement"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyExpectedTrialCommencement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Expected Trial Commencement</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyExpectedTrialCommencement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of arbitration hearing</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyLawsuitFilingDate"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyLawsuitFilingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Lawsuit Filing Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyLawsuitFilingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Arbitration proceedings, filling date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyLossInPeriod"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingencyLossInPeriod" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyLossInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Loss in Period</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyLossInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenue loss due to engine failure</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyNameOfDefendant"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_LossContingencyNameOfDefendant"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyNameOfDefendant_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Name of Defendant</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyNameOfDefendant_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Name of defendant</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Range of Possible Loss, Maximum</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fines subject to adjudication</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Range of Possible Loss, Minimum</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Irrevocably adjudicated fines</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Settlement Agreement, Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencySettlementAgreementDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement agreement date</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss on time charter agreement termination (Note 7)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_MachineryAndEquipmentMember"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Machinery And Equipment [Member]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Customer [Axis]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Major Types Of Debt Securities [Domain]</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Malpractice Insurance, Maximum Coverage Per Incident</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Coverage for pollution</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Management Fee Payable</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeePayable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to managers</label>
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Management Fee Income</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fee income</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management fee income</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Net cash (used in)/ provided by Financing Activities</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash provided by / (used in) Investing Activities</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash provided by / (used in) Operating Activities</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income:</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NetIncomeLossAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Income/(Loss):</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
      xlink:label="us-gaap_NetIncomeLoss_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Net income / (loss)</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net income/(loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NetIncomeLoss_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net income/(loss)</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other receivables, current</label>
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      xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent"
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      xlink:role="http://www.xbrl.org/2003/role/label">Notes And Loans Receivable Gross Noncurrent</label>
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      xlink:label="us-gaap_NotesAndLoansReceivableGrossNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Convertible loan receivable, outstanding amount</label>
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      xlink:label="us-gaap_NotesAndLoansReceivableNetNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Notes, Loans and Financing Receivable, Net, Noncurrent</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NotesAndLoansReceivableNetNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Convertible loan receivable, outstanding amount net of write-offs</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_NotesPayableFairValueDisclosure"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" />
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      xlink:label="us-gaap_NotesPayableFairValueDisclosure_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">8.00% 2019 Notes fair value</label>
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      xlink:label="us-gaap_NotesPayableFairValueDisclosure_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Debt instrument fair value</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility from related parties, current portion (Note 3 &amp; Note 8)</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility - current portion</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Related Parties Current And Non current</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excluding Excel Vessel Bridge Facility presented separately in the balance sheet (Note 3)</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Excel Vessel Bridge Facility</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Related Parties Noncurrent</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 &amp; Note 8)</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility - non- current portion</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Interest Rate Derivatives Held</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NumberOfInterestRateDerivativesHeld_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of interest rate derivatives held by the Company</label>
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      xlink:label="us-gaap_NumberOfReportableSegments"
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    <label xlink:type="resource"
      xlink:label="us-gaap_NumberOfReportableSegments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number of Reportable Segments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NumberOfReportableSegments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of reportable segments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OfficersCompensation"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:label="us-gaap_OfficersCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Executive directors consultancy fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingCostsAndExpenses"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingCostsAndExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingCostsAndExpenses"
      xlink:to="us-gaap_OperatingCostsAndExpenses_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Costs And Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingExpensesAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpensesAbstract" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingExpensesAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingExpenses"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingExpenses"
      xlink:to="us-gaap_OperatingExpenses_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total Operating Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Operating Expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingIncomeLossAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingIncomeLossAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Loss [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingIncomeLoss"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLoss" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating income/(loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating income/(loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Operating income / (loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Operating loss</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Five Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2022</label>
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      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Four Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2021</label>
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      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2020</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable Current</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2018</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Five Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2022</label>
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      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Four Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2021</label>
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Three Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2019</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable Thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2023 and thereafter</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">OperatingLeasesFutureMinimumPaymentsReceivable</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases, Income Statement, Initial Direct Costs</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesIncomeStatementInitialDirectCosts_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charter-in expenses</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:role="http://www.xbrl.org/2003/role/label">Chartered-in vessel expenses</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Basis of Presentation and General Information [Abstract]</label>
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      xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write-off due to fair value adjustment</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Assets Current</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other non-current assets</label>
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Other non-current assets</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Commitments [Axis]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Commitments [Domain]</label>
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      xlink:label="us-gaap_OtherCommitmentsLineItems"
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Commitments [Line Items]</label>
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      xlink:label="us-gaap_OtherCommitmentsLineItems_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lease commitments</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share Re-purchase plan</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Processing fee</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsOfDividendsCommonStock</label>
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Cash dividend</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsOfFinancingCosts</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Financing fees paid</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Offering expenses paid</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offering expenses</label>
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      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Offering expenses paid related to the issuance of common stock</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Assets Investing Activities</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for Secondhand vessels</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Advances for Secondhand vessels</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel">Cash payment for acquisition of vessels</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Businesses Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payment to acquire business</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expected payment upon the distribution of vessels</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments to Acquire Equipment on Lease</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire equipment on lease</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Intangible Assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire intangible assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Cash paid for above market acquired time charters</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PaymentsToAcquireLongtermInvestments"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsToAcquireLongtermInvestments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Long term investment (Note 3)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Productive Assets [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireProductiveAssetsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Delivery installment payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments to acquire property plant and equipment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery installments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Pre-delivery Yard installments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Advances for vessels acquisitions and vessels under construction</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Advances for vessels under construction and acquisition of vessels and other assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PendingLitigationMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PendingLitigationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PendingLitigationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pending Litigation [Member]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pension And Other Postretirement Plans Nonpension Benefits Policy</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PensionAndOtherPostretirementPlansNonpensionBenefitsPolicy_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension and retirement benefit obligations?crew</label>
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      xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Pension And Other Postretirement Plans Pensions Policy</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension and retirement benefit obligations?administrative personnel</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percentage of Debt Hedged by Interest Rate Derivatives</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of debt hedged by interest rate swap agreement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PlanNameAxis"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PlanNameAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PlanNameDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PlanNameDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan [Domain]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Positive Outcome of Litigation [Member]</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock [Member]</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Stock</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock Disclosures [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Stock:</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock - Par Value</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock - Shares Authorized</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock - Shares Issued</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Stock - Shares Outstanding</label>
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred stock value</label>
    <label xlink:type="resource"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid expenses and other receivables</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepaid expenses and other advances</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PrepaidExpenseCurrentAndNoncurrent"
      xlink:to="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid Expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PrivatePlacementMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PrivatePlacementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PrivatePlacementMember"
      xlink:to="us-gaap_PrivatePlacementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PrivatePlacementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Private Placement [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrivatePlacementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Private Placement</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrivatePlacementMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">February 2017 Private Placement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProFormaMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProFormaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProFormaMember" xlink:to="us-gaap_ProFormaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProFormaMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Pro Forma [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProFormaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pro forma adjustments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromBankDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromBankDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromBankDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from bank loans</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Insurance proceeds</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull and machinery insurance proceeds</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceInitialPublicOffering" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceInitialPublicOffering"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Initial Public Offering</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from initial public offering</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from issuance of common stock</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of common stock</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ProceedsFromIssuanceOfDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from bank loans and capital leases</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Long Term Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of notes</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Proceeds from issuance of debt</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Issuance of Private Placement</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of private placement, net of offering expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Issuance of Senior Long-term Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net proceeds from issuance of debt</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLegalSettlements"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLegalSettlements" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromLegalSettlements"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal proceeds</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of future claims proceeds</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromLinesOfCredit"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount drawn down</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLongTermCapitalLeaseObligations"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLongTermCapitalLeaseObligations" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromLongTermCapitalLeaseObligations"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLongTermCapitalLeaseObligations_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Long-term Capital Lease Obligations</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromPaymentsForTradingSecurities" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromPaymentsForTradingSecurities"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from (Payments for) Trading Securities, Short-term</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from sale of trading securities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Sale of Other Receivables</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from sale of settled claim</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cash proceeds from vessel sale</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash proceeds from vessel sales (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProfessionalAndContractServicesExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfessionalAndContractServicesExpense"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Management fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees (Note 10)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Management fee expense</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfessionalFees"
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    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consultancy fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Annual fee charged</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfitLoss"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProfitLoss" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Income/(Loss) before equity in income of investee</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" />
    <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" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels and Other Fixed Assets, Net [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAdditions" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Additions</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Additions to vessel cost and other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
    <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" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDepreciationMethods" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Depreciation Methods</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels' depreciation method</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels and Other Fixed Assets Net Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisposals" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Disposals</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentFairValueDisclosure" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property, Plant, and Equipment, Fair Value Disclosure</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentFairValueDisclosure_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, plant, and equipment, Fair value</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGrossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentGrossAbstract"
      xlink:to="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cost</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentGross"
      xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total cost</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems"
      xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value of Above/Below Market Acquired Time Charters [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessel</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentMember"
      xlink:to="us-gaap_PropertyPlantAndEquipmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentNetAbstract"
      xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Net [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">FIXED ASSETS</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentNet"
      xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total fixed assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Fixed Assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentOther" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentOther"
      xlink:to="us-gaap_PropertyPlantAndEquipmentOther_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">PropertyPlantAndEquipmentOther</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"
      xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock"
      xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of vessels and other fixed assets, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain"
      xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife"
      xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Useful Life</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel's useful life</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits"
      xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Subject to or Available for Operating Lease, Number of Units</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of time charters</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of vessels subject to operating lease</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProvisionForDoubtfulAccounts"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Provision For Doubtful Accounts</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Provision for doubtful receivables</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Bad debt expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Bad debt expense</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RangeAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Range [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RangeMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RangeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Range [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ReceivablesFairValueDisclosure"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ReceivablesFairValueDisclosure"
      xlink:to="us-gaap_ReceivablesFairValueDisclosure_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesFairValueDisclosure_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivables, Fair Value Disclosure</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesFairValueDisclosure_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fiar value, Loan receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ReceivablesPolicyTextBlock"
      xlink:to="us-gaap_ReceivablesPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivables Policy [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade accounts receivable, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyCosts"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyCosts"
      xlink:to="us-gaap_RelatedPartyCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Costs</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commissions - related parties (Note 3)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyDomain"
      xlink:to="us-gaap_RelatedPartyDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party (Domain)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionAxis"
      xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionDate"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionDate"
      xlink:to="us-gaap_RelatedPartyTransactionDate_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction, Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expiration date of agreement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionDomain"
      xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"
      xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction, Expenses from Transactions with Related Party</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Employment services fee</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionLineItems"
      xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related Party Transaction</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsAbstract"
      xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Transactions with Related Parties [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"
      xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Transactions [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"
      xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Transactions with Related Parties Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transactions with Related Parties:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfBankDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfBankDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfBankDebt"
      xlink:to="us-gaap_RepaymentsOfBankDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">RepaymentsOfBankDebt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan repayments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Loan prepayments and repayments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfDebt"
      xlink:to="us-gaap_RepaymentsOfDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments Of Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayments of debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Loan prepayments and repayments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfLinesOfCredit"
      xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfLongTermLinesOfCredit"
      xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Long-term Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayments of lines of credit</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepurchaseAgreementCounterpartyNameDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepurchaseAgreementCounterpartyNameDomain"
      xlink:to="us-gaap_RepurchaseAgreementCounterpartyNameDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Counterparty Name [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted cash, current (Note 7 and Note 18)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash, current (Note 8)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Restricted cash</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis"
      xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted Cash and Cash Equivalents [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cash and Cash Equivalents [Domain]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legally restricted</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted cash , non-current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash, non-current (Note 8)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalents"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RestrictedCashAndCashEquivalents"
      xlink:to="us-gaap_RestrictedCashAndCashEquivalents_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalents_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted Cash and Cash Equivalents</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalents_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedStockMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedStockMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RestrictedStockMember"
      xlink:to="us-gaap_RestrictedStockMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedStockMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted Stock [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedStockMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted common shares</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit"
      xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings Accumulated Deficit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated deficit</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RetainedEarningsMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RetainedEarningsMember"
      xlink:to="us-gaap_RetainedEarningsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated deficit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Retained Earnings/(Accumulated Deficit)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RevenuesAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenuesAbstract" />
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    <label xlink:type="resource"
      xlink:label="us-gaap_RevenuesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Revenues [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RevenuesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenues:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_Revenues"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage revenues</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total revenues</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalariesAndWages"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalariesAndWages_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Compensation</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalariesAndWages_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Crew wages and related costs</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Current Period Gain Recognized</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization of deferred gain</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Amortization of deferred gain (Note 5)</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Deferred Gain, Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale Leaseback Transaction, Deferred Gain</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Deferred Gain, Net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Description [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDescription"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SaleLeasebackTransactionDescription" />
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDescription_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Description</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionNameDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SaleLeasebackTransactionNameDomain" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionNameDomain_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Name [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SaleOfStockNameOfTransactionDomain" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SaleOfStockNameOfTransactionDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale of Stock [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalesCommissionsAndFees"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesCommissionsAndFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SalesCommissionsAndFees"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Commissions - third parties</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sales commissions and fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Voyage expenses-Interchart (a)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalesRevenueNetMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesRevenueNetMember" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SalesRevenueNetMember"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalesRevenueNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sales Revenue, Net [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesRevenueNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage revenues</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalvageValueMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalvageValueMember" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SalvageValueMember"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalvageValueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Salvage Value [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalvageValueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Salvage Value</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScenarioUnspecifiedDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ScenarioUnspecifiedDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Scenario Unspecified [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Accrued Liabilities [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of accrued liabilities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Business Acquisitions, by Acquisition [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfChangeInAccountingEstimateTable" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ScheduleOfChangeInAccountingEstimateTable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Change in Accounting Estimate [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ScheduleOfDebtTableTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Debt Table [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bank loans and notes</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Derivative Instruments Effect On Other Comprehensive Income Loss [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative instruments effect on other comprehensive income loss</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Derivatives Instruments Statements Of Financial Performance And Financial Position Location [Table Text Block]</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative instruments effect on statement of operations</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"
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      xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Earnings / (Loss) per share</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfEntityWideRevenueByMajorCustomersByReportingSegmentsTable" />
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Entity Wide Revenue By Major Customers By Reporting Segments [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value measurements on a recurring basis</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Interest Rate Derivatives [Table Text Block]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value measurements on a recurring basis - Interest rate swaps</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of inventories</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Maturities Of Long Term Debt [Table Text Block]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term debt, Principal payments</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of derivative instruments</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Table]</label>
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    <labelArc xlink:type="arc"
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      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transactions [Table]</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of related party transactions</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Revenue By Major Customers By Reporting Segments [Table Text Block]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charter Revenue Percentage</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Sale Leaseback Transactions [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfSaleLeasebackTransactionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Sale Leaseback Transactions</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan [Table]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Share-based Compensation, Stock Options, Activity</label>
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      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" />
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Share-based Compensation, Restricted Shares, Activity</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfStockByClassTable"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" />
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      xlink:from="us-gaap_ScheduleOfStockByClassTable"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Class of Stock [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Finite Lived Intangible Assets Future Amortization Expense [Table Text Block]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Estimated aggregate amortization expense of the above market acquired time charters</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Segment Reporting Policy Policy Text Block</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Segment reporting</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vested</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Granted</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Third installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Share-based Compensation Award, Tranche Two [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Stock incentive plan awards</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
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      use="optional" />
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      use="optional" />
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      preferredLabel="http://www.xbrl.org/2003/role/terseLabel"
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    <loc xlink:type="locator"
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      use="optional" />
    <loc xlink:type="locator"
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    <presentationArc xlink:type="arc"
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791277584">
<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, 2017 </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,  2017<span></span>
</td>
</tr>
<tr 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">63,415,479<span></span>
</td>
</tr>
<tr 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">2017<span></span>
</td>
</tr>
<tr 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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6792199632">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">$ 226,882<span></span>
</td>
<td class="nump">$ 181,758<span></span>
</td>
</tr>
<tr class="re">
<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">12,120<span></span>
</td>
<td class="nump">5,121<span></span>
</td>
</tr>
<tr class="ro">
<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">20,415<span></span>
</td>
<td class="nump">12,572<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories (Note 4)</a></td>
<td class="nump">14,158<span></span>
</td>
<td class="nump">14,534<span></span>
</td>
</tr>
<tr class="ro">
<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">0<span></span>
</td>
<td class="nump">1,430<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties (Note 3)</a></td>
<td class="nump">228<span></span>
</td>
<td class="nump">922<span></span>
</td>
</tr>
<tr class="ro">
<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">4,022<span></span>
</td>
<td class="nump">5,641<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsCurrent', window );">Derivative asset, current</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="ro">
<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 (Note 6)</a></td>
<td class="nump">5,857<span></span>
</td>
<td class="nump">6,447<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
<td class="nump">283,682<span></span>
</td>
<td class="nump">228,466<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>FIXED ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Advances for vessels under construction and acquisition of vessels (Notes 5 and 6)</a></td>
<td class="nump">46,472<span></span>
</td>
<td class="nump">64,570<span></span>
</td>
</tr>
<tr class="ro">
<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">1,796,943<span></span>
</td>
<td class="nump">1,707,209<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total Fixed Assets</a></td>
<td class="nump">1,843,415<span></span>
</td>
<td class="nump">1,771,779<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrentAbstract', window );"><strong>OTHER NON-CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermInvestments', window );">Long term investment (Note 3)</a></td>
<td class="nump">974<span></span>
</td>
<td class="nump">970<span></span>
</td>
</tr>
<tr class="ro">
<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">8,420<span></span>
</td>
<td class="nump">8,883<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,604<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">2,136,491<span></span>
</td>
<td class="nump">2,011,702<span></span>
</td>
</tr>
<tr class="re">
<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">7,532<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_CapitalLeaseObligationsCurrent', window );">Lease commitments short term (Notes 5 and 8)</a></td>
<td class="nump">9,120<span></span>
</td>
<td class="nump">6,235<span></span>
</td>
</tr>
<tr class="ro">
<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">5,886<span></span>
</td>
<td class="nump">5,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Due to managers</a></td>
<td class="nump">4,320<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_DueToRelatedPartiesCurrent', window );">Due to related parties (Note 3)</a></td>
<td class="nump">334<span></span>
</td>
<td class="nump">356<span></span>
</td>
</tr>
<tr class="re">
<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">9,836<span></span>
</td>
<td class="nump">11,719<span></span>
</td>
</tr>
<tr class="ro">
<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 15)</a></td>
<td class="nump">2,184<span></span>
</td>
<td class="nump">2,549<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
<td class="nump">1,863<span></span>
</td>
<td class="nump">2,060<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">41,075<span></span>
</td>
<td class="nump">28,119<span></span>
</td>
</tr>
<tr class="re">
<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 $1,243 and $1,028, respectively (Note 8)</a></td>
<td class="nump">48,972<span></span>
</td>
<td class="nump">48,757<span></span>
</td>
</tr>
<tr class="re">
<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 $9,214 and $8,263, respectively (Note 8)</a></td>
<td class="nump">751,898<span></span>
</td>
<td class="nump">743,719<span></span>
</td>
</tr>
<tr class="ro">
<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, net of unamortized deferred finance fees of $39 and $37, respectively (Notes 5 and 8)</a></td>
<td class="nump">225,716<span></span>
</td>
<td class="nump">152,613<span></span>
</td>
</tr>
<tr class="re">
<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 15)</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">796<span></span>
</td>
</tr>
<tr class="ro">
<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">460<span></span>
</td>
<td class="nump">468<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">1,068,141<span></span>
</td>
<td class="nump">974,472<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_CommitmentsAndContingencies', window );">COMMITMENTS &amp; CONTINGENCIES (Note 14)</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, 2016 and June 30, 2017 (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, $0.01 par value, 300,000,000 shares authorized; 56,628,907 and 63,415,479 shares issued and outstanding at December 31, 2016 and June 30, 2017, respectively (Note 9)</a></td>
<td class="nump">634<span></span>
</td>
<td class="nump">566<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
<td class="nump">2,120,336<span></span>
</td>
<td class="nump">2,063,490<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income/(loss) (Note 15)</a></td>
<td class="nump">141<span></span>
</td>
<td class="num">(294)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(1,052,761)<span></span>
</td>
<td class="num">(1,026,532)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
<td class="nump">1,068,350<span></span>
</td>
<td class="nump">1,037,230<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
<td class="nump">$ 2,136,491<span></span>
</td>
<td class="nump">$ 2,011,702<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> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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=84228862&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=84228862&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=84228862&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=82887183&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=82887183&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=84164817&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=84164758&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=84164817&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=84164758&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> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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 210.5-02.1)<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=82911808&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=82887183&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_DerivativeAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled 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 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13495-108611<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 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 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 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&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_DerivativeAssetsCurrent</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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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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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 );">- 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> -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 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 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=77997519&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 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&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=77997519&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=77997519&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=82887183&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>
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</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_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_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=82887183&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>
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<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>
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<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>
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<tr>
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<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=82887183&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>
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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 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>
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<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</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>
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<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNetAbstract</td>
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<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>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<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 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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 (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<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(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>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as noncurrent. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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><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 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6812-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<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_RestrictedCashAndCashEquivalentsNoncurrent</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>
<td>instant</td>
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</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 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>
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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>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<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>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>
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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>
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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791687616">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 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_LongtermDebtTypeAxis=us-gaap_MediumTermNotesMember', window );">2019 Notes</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_DeferredFinanceCostsNet', window );">Unamortized deferred finance fees</a></td>
<td class="nump">$ 1,028<span></span>
</td>
<td class="nump">$ 1,243<span></span>
</td>
</tr>
<tr class="rh">
<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="ro">
<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 finance fees</a></td>
<td class="nump">8,263<span></span>
</td>
<td class="nump">9,214<span></span>
</td>
</tr>
<tr class="rh">
<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 );">Lease commitments</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_DeferredFinanceCostsNet', window );">Unamortized deferred finance fees</a></td>
<td class="nump">$ 37<span></span>
</td>
<td class="nump">$ 39<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock - Par Value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred Stock - Shares Authorized</a></td>
<td class="nump">25,000,000<span></span>
</td>
<td class="nump">25,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred Stock - Shares Issued</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Stock - Shares Outstanding</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember', window );">Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common Stock - Par Value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common Stock - Shares Authorized</a></td>
<td class="nump">300,000,000<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common Stock - Shares Issued</a></td>
<td class="nump">63,415,479<span></span>
</td>
<td class="nump">56,628,907<span></span>
</td>
</tr>
<tr class="ro">
<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">63,415,479<span></span>
</td>
<td class="nump">56,628,907<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=84159872&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_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>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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>
<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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791744224">
<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, 2017</div></th>
<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_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">$ 143,471<span></span>
</td>
<td class="nump">$ 98,862<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">91<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">143,471<span></span>
</td>
<td class="nump">98,953<span></span>
</td>
</tr>
<tr class="re">
<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">31,649<span></span>
</td>
<td class="nump">37,284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Charter-in hire expenses</a></td>
<td class="nump">1,736<span></span>
</td>
<td class="nump">1,918<span></span>
</td>
</tr>
<tr class="ro">
<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">49,560<span></span>
</td>
<td class="nump">49,364<span></span>
</td>
</tr>
<tr class="re">
<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">3,248<span></span>
</td>
<td class="nump">1,583<span></span>
</td>
</tr>
<tr class="ro">
<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">40,387<span></span>
</td>
<td class="nump">40,847<span></span>
</td>
</tr>
<tr class="re">
<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 10)</a></td>
<td class="nump">3,689<span></span>
</td>
<td class="nump">3,911<span></span>
</td>
</tr>
<tr class="ro">
<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">17,316<span></span>
</td>
<td class="nump">13,298<span></span>
</td>
</tr>
<tr class="re">
<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)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,694<span></span>
</td>
</tr>
<tr class="ro">
<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">751<span></span>
</td>
<td class="nump">109<span></span>
</td>
</tr>
<tr class="re">
<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">(2,461)<span></span>
</td>
<td class="num">(50)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet', window );">(Gain)/ Loss on forward freight agreements (Note 15)</a></td>
<td class="nump">541<span></span>
</td>
<td class="num">(283)<span></span>
</td>
</tr>
<tr class="re">
<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 );">(Gain)/ Loss on sale of vessels (Note 5)</a></td>
<td class="nump">370<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total Operating Expenses</a></td>
<td class="nump">146,786<span></span>
</td>
<td class="nump">154,696<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Operating income / (loss)</a></td>
<td class="num">(3,315)<span></span>
</td>
<td class="num">(55,743)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other Income/ (Expenses):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpense', window );">Interest and finance costs (Note 8)</a></td>
<td class="num">(23,766)<span></span>
</td>
<td class="num">(19,694)<span></span>
</td>
</tr>
<tr class="ro">
<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">1,223<span></span>
</td>
<td class="nump">154<span></span>
</td>
</tr>
<tr class="re">
<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 15)</a></td>
<td class="nump">100<span></span>
</td>
<td class="num">(4,681)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment (Note 8)</a></td>
<td class="num">(358)<span></span>
</td>
<td class="num">(1,801)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other expenses, net</a></td>
<td class="num">(22,801)<span></span>
</td>
<td class="num">(26,022)<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income/(Loss) before equity in income of investee</a></td>
<td class="num">(26,116)<span></span>
</td>
<td class="num">(81,765)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity in income of investee</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">69<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income / (loss) before taxes</a></td>
<td class="num">(26,112)<span></span>
</td>
<td class="num">(81,696)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">US Source Income taxes</a></td>
<td class="num">(117)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income/(loss)</a></td>
<td class="num">$ (26,229)<span></span>
</td>
<td class="num">$ (81,696)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Earnings / (Loss) per share, basic</a></td>
<td class="num">$ (0.42)<span></span>
</td>
<td class="num">$ (1.86)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Earnings / (Loss) per share, diluted</a></td>
<td class="num">$ (0.42)<span></span>
</td>
<td class="num">$ (1.86)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average number of shares outstanding, basic (Note 12)</a></td>
<td class="nump">62,188,645<span></span>
</td>
<td class="nump">43,880,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average number of shares outstanding, diluted (Note 12)</a></td>
<td class="nump">62,188,645<span></span>
</td>
<td class="nump">43,880,713<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=98514028&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=98514028&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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying 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 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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=96948231&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=96947427&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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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=96947427&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_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=84234895&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=98514028&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=98514028&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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to 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 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41242-110953<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(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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(8))<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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=98514028&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_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<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_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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 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 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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 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(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>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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_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>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=96947427&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=96947427&amp;loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6792201168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Comprehensive Income / (Loss) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<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_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (26,229)<span></span>
</td>
<td class="num">$ (81,696)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_OtherComprehensiveIncomeLossAbstract', window );"><strong>Other comprehensive income / (loss):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss', window );">Unrealized gain / (loss) from hedging interest rate swaps recognized in Other comprehensive income/(loss) before reclassifications</a></td>
<td class="num">(38)<span></span>
</td>
<td class="num">(972)<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">473<span></span>
</td>
<td class="nump">709<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income / (loss)</a></td>
<td class="nump">435<span></span>
</td>
<td class="num">(263)<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_ComprehensiveIncomeNetOfTax', window );">Comprehensive income / (loss)</a></td>
<td class="num">$ (25,794)<span></span>
</td>
<td class="num">$ (81,959)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_OtherComprehensiveIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_OtherComprehensiveIncomeLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=d3e557-108580<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=98514028&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 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 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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 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(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>
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<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=84159872&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=84228862&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=84228862&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=84158357&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>
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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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<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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=84228862&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=84234895&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=84228862&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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<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=84234895&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>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791612736">
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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>Accumulated 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, 2015</a></td>
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<td class="nump">$ 438<span></span>
</td>
<td class="nump">$ 2,008,440<span></span>
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<td class="num">$ (1,216)<span></span>
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<td class="num">$ (872,304)<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, 2015</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">43,821,114<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">(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>
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<td class="num">(81,696)<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">(263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(263)<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), 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>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">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>
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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, 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>
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<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>
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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, 2016</a></td>
<td class="nump">1,037,230<span></span>
</td>
<td class="nump">$ 566<span></span>
</td>
<td class="nump">2,063,490<span></span>
</td>
<td class="num">(294)<span></span>
</td>
<td class="num">(1,026,532)<span></span>
</td>
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<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, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">56,628,907<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">(26,229)<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="num">(26,229)<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income / (loss)</a></td>
<td class="nump">435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">435<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), value</a></td>
<td class="nump">6,360<span></span>
</td>
<td class="nump">$ 5<span></span>
</td>
<td class="nump">6,355<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">476,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">50,554<span></span>
</td>
<td class="nump">$ 63<span></span>
</td>
<td class="nump">50,491<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">6,310,272<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="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, 2017</a></td>
<td class="nump">$ 1,068,350<span></span>
</td>
<td class="nump">$ 634<span></span>
</td>
<td class="nump">$ 2,120,336<span></span>
</td>
<td class="nump">$ 141<span></span>
</td>
<td class="num">$ (1,052,761)<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, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,415,479<span></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_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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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 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 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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 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(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=84159872&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=84228862&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=84228862&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=84158357&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_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=84159872&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=84159872&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_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=84159872&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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R7.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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791269536">
<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, 2017</div></th>
<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_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">$ (26,229)<span></span>
</td>
<td class="num">$ (81,696)<span></span>
</td>
</tr>
<tr class="re">
<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">40,387<span></span>
</td>
<td class="nump">40,847<span></span>
</td>
</tr>
<tr class="re">
<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">0<span></span>
</td>
<td class="nump">254<span></span>
</td>
</tr>
<tr class="ro">
<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">1,288<span></span>
</td>
<td class="nump">1,561<span></span>
</td>
</tr>
<tr class="re">
<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">358<span></span>
</td>
<td class="nump">1,801<span></span>
</td>
</tr>
<tr class="ro">
<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)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,694<span></span>
</td>
</tr>
<tr class="re">
<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">370<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation (Note 13)</a></td>
<td class="nump">6,360<span></span>
</td>
<td class="nump">2,285<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NoncashEffectsOfDerivativeFinancialInstruments', window );">Non-cash effects of derivative financial instruments (Note 15)</a></td>
<td class="num">(706)<span></span>
</td>
<td class="nump">1,805<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Change in fair value of forward freight derivatives (Note 15)</a></td>
<td class="nump">41<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_OtherNoncashIncomeExpense', window );">Other non-cash charges</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="ro">
<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="num">(37)<span></span>
</td>
</tr>
<tr class="re">
<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="num">(4)<span></span>
</td>
<td class="num">(69)<span></span>
</td>
</tr>
<tr class="ro">
<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_IncreaseDecreaseInRestrictedCashForOperatingActivities', window );">Restricted cash for forward freight derivatives</a></td>
<td class="nump">216<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_IncreaseDecreaseInAccountsReceivable', window );">Trade accounts receivable</a></td>
<td class="num">(7,843)<span></span>
</td>
<td class="nump">255<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="nump">376<span></span>
</td>
<td class="num">(2,267)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">424<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="nump">748<span></span>
</td>
<td class="nump">537<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">1,430<span></span>
</td>
<td class="num">(3,585)<span></span>
</td>
</tr>
<tr class="re">
<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="ro">
<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="nump">651<span></span>
</td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="re">
<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">(22)<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="ro">
<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">(1,624)<span></span>
</td>
<td class="num">(2,705)<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_IncreaseDecreaseInOtherAccountsPayable', window );">Due to managers</a></td>
<td class="nump">4,320<span></span>
</td>
<td class="num">(2,291)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(197)<span></span>
</td>
<td class="nump">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_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by / (used in) Operating Activities</a></td>
<td class="nump">20,336<span></span>
</td>
<td class="num">(35,972)<span></span>
</td>
</tr>
<tr class="ro">
<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="re">
<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">(116,679)<span></span>
</td>
<td class="num">(388,660)<span></span>
</td>
</tr>
<tr class="ro">
<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">7,656<span></span>
</td>
<td class="nump">362,887<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DecreaseInRestrictedCash', window );">Decrease in restricted cash</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">7,034<span></span>
</td>
</tr>
<tr class="ro">
<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">(6,775)<span></span>
</td>
<td class="num">(6,944)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities', window );">Hull and machinery insurance proceeds</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,115<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by / (used in) Investing Activities</a></td>
<td class="num">(115,775)<span></span>
</td>
<td class="num">(24,568)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from bank loans and capital leases</a></td>
<td class="nump">95,936<span></span>
</td>
<td class="nump">151,763<span></span>
</td>
</tr>
<tr class="re">
<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">(5,190)<span></span>
</td>
<td class="num">(158,699)<span></span>
</td>
</tr>
<tr class="ro">
<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">(737)<span></span>
</td>
<td class="num">(25)<span></span>
</td>
</tr>
<tr class="re">
<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">51,454<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Offering expenses paid related to the issuance of common stock</a></td>
<td class="num">(900)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by / (used in) Financing Activities</a></td>
<td class="nump">140,563<span></span>
</td>
<td class="num">(6,961)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (decrease) / increase in cash and cash equivalents</a></td>
<td class="nump">45,124<span></span>
</td>
<td class="num">(67,501)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">181,758<span></span>
</td>
<td class="nump">208,056<span></span>
</td>
</tr>
<tr class="ro">
<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">226,882<span></span>
</td>
<td class="nump">140,555<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Cash paid during the period for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest</a></td>
<td class="nump">$ 23,575<span></span>
</td>
<td class="nump">$ 23,279<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NoncashEffectsOfDerivativeFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Noncash effects of derivative financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NoncashEffectsOfDerivativeFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfAboveAndBelowMarketLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of non-cash amortization of intangible asset (liability) for above and below market leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfAboveAndBelowMarketLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of 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=98514028&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=98514028&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> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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 210.5-02.1)<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=98514028&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=98513438&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=98514028&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_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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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_IncreaseDecreaseInRestrictedCashForOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></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 cash inflow or outflow for the increase (decrease) 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 operating activities. This may include cash restricted for regulatory purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=98514028&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_IncreaseDecreaseInRestrictedCashForOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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>Amount of cash paid, after deduction of cash paid for capitalized interest, for interest. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=98513485&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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=98514028&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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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 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 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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 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(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=98514028&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=98514028&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_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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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>Amount of cash inflow for proceeds from settlement of insurance claim, classified as investing activities. Excludes insurance settlement 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 12<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3179-108585<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 21B<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=SL94080549-108585<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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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_ProceedsFromSaleOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the deferred gain that was recognized in the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77907795&amp;loc=d3e50609-112754<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6782110368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</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>
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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_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.&#160;&#160;&#160;&#160;&#160;&#160;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. &#160;(&#147;Star Bulk&#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. &#160;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; &#160;The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &#147;Company,&#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;U.S. GAAP&#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) for interim financial information. &#160;Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent: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. &#160;Operating results for the six-month period ended June 30, 2017 are not necessarily indicative of the results that might be expected for the fiscal year ending December&#160;31, 2017.</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 split of its issued and outstanding common shares. All share and per share information has been retroactively adjusted to reflect the reverse split.</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, 2016 (the &#147;2016 Annual Report&#148;). &#160;The balance sheet as of December 31, 2016 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; ">Unless otherwise defined herein, capitalized words and expressions used herein shall have the same meanings ascribed to them in the 2016 Annual Report.</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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI http://asc.fasb.org/topic&amp;trid=2122149<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934310528">
<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, 2017</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 [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_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting policies</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.&#160;&#160;&#160;&#160;&#160;&#160;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 2016 Annual Report. &#160;There have been no changes to the Company's significant accounting policies in the six-month period ended June 30, 2017, other than the adoption of (i) ASU </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">No. 2015-11 &#147;<i>Simplifying the measurement of inventory,</i>&#148; (ii) ASU 2016-05 &#147;<i>Derivatives and Hedging (Topic 815)': Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships,</i>&#148; (iii) ASU No 2016-07 &#147;<i>Investments - Equity Method and Joint Ventures</i>&#148; and (iv) ASU No 2016-09 &#147;<i>Compensation-Stock Compensation - Improvements to Employee Share-Based Payment Accounting,</i>&#148; each of which is discussed in Note 2 aa) to the Company's </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">consolidated financial statements included in the 2016 Annual Report. The adoption of these updates had no material effect on the Company's 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; "><b><u>Recent Accounting pronouncements</u>:</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; "><i><b>Revenue from Contracts with Customers (&#147;Topic 606&#148;):</b></i> 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 each contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in each contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 clarify the following two aspects of Topic 606: (a) identifying performance obligations and (b) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606, including, (i) &#147;Assessing the Collectability 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; (ii) &#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#148; (iii) &#147;Noncash Consideration,&#148; (iv) &#147;Contract Modifications at Transition,&#148; (v) &#147;Completed Contracts at Transition,&#148; and (vi) &#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. In December 2016, the FASB also issued ASU 2016-20, &#147;<i>Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers</i>.&#148; The amendments in the latest Update 2016-20 represent changes to make minor corrections/improvements to the codification that are not expected to have a significant effect on current accounting practice. 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. The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). ASU 2014-09 is effective for the Company January 1, 2018, and the Company expects to use the modified retrospective approach upon adoption. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company's method of determining proportional performance might change from discharge-to-discharge to load-to-discharge. This will result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. This change will result in revenue being recognized later in the voyage, which may cause additional volatility in revenue and earnings between periods. The Company is in the process of validating aspects of ASU 2014-09, quantifying the effect that the adoption of the ASU 2014-09 will have on its financial statements and accompanying notes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09.</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;</b></font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934224752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2017</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>&#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; "><b>3.&#160;&#160;&#160;&#160;&#160;&#160;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; ">Except for the Sydelle profit sharing agreement described below, details of the Company's transactions with related parties did not change in the six-month period ended June 30, 2017 and are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 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; "><b>Sydelle profit sharing agreement: </b>In April 2017, Sydelle Marine Limited (&#147;Sydelle&#148;), a company controlled by members of the family of Mr. Petros Pappas, our chief executive officer, entered into an agreement (the &#147;Agreement&#148;) with the Company's fully owned subsidiary Domus Shipping LLC (&#147;Domus&#148;), owner&#160;of the vessel&#160;<i>Star Ariadne,</i> to operate a pool, whereby the net revenues of <i>Star Ariadne</i> and the vessel owned by Sydelle, will be equally split between the two companies. This pooling arrangement commenced in April 2017. Pursuant to the Agreement,&#160;the pool adjustment for the six-month period ended June 30, 2017 was ($159), which is recorded in &#147;Voyage revenues&#148; in the accompanying consolidated statements of operations. As of June 30, 2017, the Company had an outstanding payable amount of $159 in connection with the Agreement.</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; ">Transactions and balances with related parties are analyzed as follows:</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><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: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:17px;"><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: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>December 31, 2016</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>June 30, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Due from related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:353px;height:10px;"><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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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; ">922</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;148 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="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: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:101px;"><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;</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;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Ocean Manning Philipines Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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>Due from related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>922</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>228</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Due to related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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:353px;height:10px;"><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:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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:86px;"><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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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; ">&#160;</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; ">26</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; ">3</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sydelle profit sharing agreement </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">159</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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; ">&#160;</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; ">323</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; ">157</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:353px;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>Due to related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>356</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>334</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:17px;"><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:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-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:227px;"><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:353px;height:11px;"><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 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:101px;"><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>
    <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>2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:21px;"><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:17px;"><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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,650)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ </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;(1,650)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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: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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(248)</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;&#160;&#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;(250)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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:101px;"><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;(75)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#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;(72)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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: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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#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)</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;(17)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Office rent - Alma Properties </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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: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;(2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sydelle profit sharing agreement</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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;(159)</font></div></td>
  </tr>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><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>&#160;</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="text-indent:0.0px;"></div><span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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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_RelatedPartyTransactionsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
<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 850<br> -URI http://asc.fasb.org/topic&amp;trid=2122745<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsDisclosureTextBlock</td>
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<td>us-gaap_</td>
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<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934066064">
<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, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">Inventories:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4.&#160;&#160;&#160;&#160;&#160;&#160;Inventories:</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 amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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: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, 2016</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:88px;"><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, 2017</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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,629</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,358</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; ">7,905</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:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,800</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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,534</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,158</b></font></div></td>
  </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 330<br> -URI http://asc.fasb.org/topic&amp;trid=2126998<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934190960">
<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, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Vessels and Other Fixed Assets, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Vessels and other fixed assets, net:</a></td>
<td class="text"><div style="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>5.&#160;&#160;&#160;&#160;&#160;&#160;Vessels and other fixed assets, net:</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 amounts in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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:280px;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, 2016</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:72px;"><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, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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:72px;"><div style="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:280px;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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,037,737</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,165,892</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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; ">1,898</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,984</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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>2,039,635</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,167,876</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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; ">(332,426</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(370,933</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:280px;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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,707,209</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,796,943</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family: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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i)&#160;&#160;&#160;&#160;&#160;&#160;On January&#160;6, 2016, the Company took delivery of the vessel <i>Star Lutas</i> (ex-HN NE 197). &#160;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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii)&#160;&#160;&#160;&#160;&#160;&#160;On January&#160;8, 2016, the Company took delivery of the vessel <i>Kennadi</i> (ex-HN 1080). &#160;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-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii)&#160;&#160;&#160;&#160;&#160;&#160;On February&#160;26, 2016, the Company took delivery of the vessel <i>Star Poseidon</i> (ex-HN NE 198). &#160;The delivery installment of $33,390 was partially financed by $23,400 drawn down under the DNB-SEB-CEXIM $227,500 Facility.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iv)&#160;&#160;&#160;&#160;&#160;&#160;On March&#160;2, 2016, the Company took delivery of the vessel <i>Mackenzie</i> (ex-HN 1081). &#160;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: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(v)&#160;&#160;&#160;&#160;&#160;&#160;On March&#160;11, 2016 and June 6, 2016, the Company took delivery of the vessel <i>Star Marisa</i> (ex-HN 1359), and <i>Star Libra </i>(ex-HN 1372), which are each subject to a bareboat charter agreement with CSSC (Hong Kong) Shipping Company Limited (&#147;CSSC&#148;) that is accounted for in the Company's consolidated financial statements as a capital lease, as further described in the 2016 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;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 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. &#160;All of the vessels mentioned above were delivered to their purchasers during the six-month period ended June 30, 2016, and the Company recognized an aggregate 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&#160;2016, the Company negotiated the sale of <i>Star Michele</i>. &#160;The Memorandum of the Agreement was signed in April&#160;2016 and the vessel was delivered to its buyers in late May&#160;2016. &#160;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><b>Vessels acquired / disposed of during the six-month period ended June 30, 2017</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 and secondhand vessels:</i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i)&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 1, 2017, the Company took delivery of the Newcastlemax vessel <i>Star Virgo</i> (ex-HN 1371), which, </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">as further described in the 2016 Annual Report, </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">is financed under a bareboat charter with CSSC, accounted for as a capital lease. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii)&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 28, 2017, the Company took delivery of the Newcastlemax vessel <i>Star Ariadne</i> (ex-HN 1360), which, </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">as further described in the 2016 Annual Report, </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">is financed under a bareboat charter accounted for as a capital lease, from CSSC.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii)&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On March 2, 2017, the Company entered into agreements to acquire two modern Kamsarmax dry bulk vessels from a third party for $15,150 each. Each of the vessels has a carrying capacity of 81,711 deadweight tons and was built with high specifications at Jiangsu New Yangzijiang in 2013. <i>Star Charis</i> was delivered to the Company on March 22, 2017, and <i>Star Suzanna</i> was delivered to the Company on May 15, 2017. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On June 23, 2017, the Company executed a new loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">, $16,000 of which was drawn in order to partially finance the two vessels (Note 8).</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iv)&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On June 2, 2017, the Company entered into an agreement to acquire <i>Diva</i>, a Supramax vessel with carrying capacity of 56,582 deadweight tons, built at Jiangsu Hantong Ship Heavy Industry co Ltd China in 2011, for a purchase price of $10,500. The vessel was delivered to the Company on July 24, 2017 (Note 16) </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">and replaced the sold vessel <i>Star Eleonora</i>, as a pledged vessel under the DNB $120,000 Facility (Note 8).</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Sale of 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; ">On February 9, 2017, the Company entered into an agreement with a third party to sell the vessel&#160;<i>Star Eleonora&#160;</i>at market terms. The vessel was delivered to its new owner in March 2017, and the resulting loss on sale is separately reflected in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2017.</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 </i>and<i> Star Libra.</i> As of June 30, 2017, the Company was party to eight capital leases, for the vessels <i>Idee Fixe</i>, <i>Roberta</i>, <i>Laura</i>, <i>Kaley</i>, <i>Star Marisa, Star Libra, Star Virgo </i>and <i>Star Ariadne</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 2017 was $3,016 and $5,805, 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, 2017, the net book value of the vessels under capital leases was $331,248 with accumulated depreciation of $15,298. The principal payments required to be made after June 30, 2017 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, 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; ">$</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; ">22,465</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; ">29,691</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; ">32,764</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; ">32,452</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</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; ">32,500</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, 2023 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; ">163,218</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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>313,090</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unamortized deferred finance fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total lease commitments, net</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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>313,053</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; ">78,217</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>234,836</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; ">9,120</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; ">225,716</font></div></td>
  </tr>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">No events and circumstances were identified that would require an additional impairment since the Company's last impairment test exercise as of December 31, 2016.</font></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934103072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</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_AdvancesForVesselsAcquisitionsTextBlock', window );">Advances for vessels under construction and acquisition of vessels:</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>6.&#160;&#160;&#160;&#160;&#160;&#160;Advances for vessels under construction and acquisition of vessels:</b></font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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: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, 2016</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, 2017</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>
  </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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">32,602</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</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; ">30,102</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; ">Advances for vessels acquisitions (Note 5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,050</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; ">25,272</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; ">10,460</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;">&#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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,966</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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,590</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; ">1,730</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; ">1,270</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;">&#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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>64,570</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-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>46,472</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-top:3.0px;margin-bottom:3.0px;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; ">As of June 30, 2017, the Company had three Newcastlemax dry bulk carrier vessels on order at SWS in China (one of which is subject to a bareboat charter accounted for as a capital lease). As of June 30, 2017, the total aggregate remaining contracted price for these newbuilding vessels plus agreed additional amounts was $103,492, payable upon delivery. Delivery is expected to be in October 2017 for HN 1342 (tbn <i>Star Eleni</i>) and in January 2018 for HN 1361 (tbn <i>Star Magnanimus</i>) and HN 1343 (tbn <i>Star Leo</i>). </font></div>
<div style="text-indent:0.0px;"><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, 2016, included in the 2016 Annual Report, the Company as of June 30, 2017 is entitled to receive a refund of $1,604 from the shipyards, which amount is included under &#147;Other current assets.&#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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<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>
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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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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>7.&#160;&#160;&#160;&#160;&#160;&#160;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&#160;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> Accumulated amortization<i> </i>as of December&#160;31, 2015 in connection with these time charters was $1,713, leaving an unamortized balance as of December&#160;31, 2015 of $254, which was fully amortized during the six-month period ended June&#160;30, 2016 and is included under &#147;Voyage revenues&#148; in the accompanying unaudited interim condensed consolidated statement of operations for the six-month period ended June 30, 2016.</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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934121600">
<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>
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<tr><th class="th"><div>Jun. 30, 2017</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>8.&#160;&#160;&#160;&#160;&#160;&#160;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, 2016, included in the 2016 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; "><b>ABN AMRO Bank N.V. $30,844 Facility:</b> On June 23, 2017, the Company executed a loan agreement with ABN AMRO Bank N.V. for an aggregate principal amount of $30,844, available in two tranches, 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;</font></div>
<div style="text-align:justify;margin-left: 84.0px;text-indent:-84.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">i. &#160;&#160;&#160;&#160;&#160;&#160;Tranche A, with a principal amount of $16,000, was drawn down on June 27, 2017 to partially finance the acquisition of <i>Star Charis</i> and <i>Star Suzanna</i>, which are two Kamsarmax vessels, built in 2013, with carrying capacity of 81,711 deadweight tons each, acquired in March and May 2017, respectively (Note 5).</font><font style="font-family:Arial;font-size:13.3px;color:#000000; "> </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">This tranche matures in June 2022 and is repayable in 20 quarterly installments, the first four of which will be in the amount of $1,000 and the remaining 16 of which will be in the amount of $360, commencing in September 2017, and a final balloon payment of $6,240, payable together with the last installment.</font></div>
<div style="text-align:justify;margin-left: 84.0px;text-indent:-84.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ii.&#160;&#160;&#160;&#160;&#160;&#160;Tranche B, with a principal amount of $14,844, was drawn down on July 7, 2017 to refinance all of the outstanding debt under the Heron Vessels Facility. Tranche B is secured by <i>Star Angelina</i> and <i>Star Gwyneth</i>. This tranche matures in June 2022 and is repayable in 17 equal quarterly installments of $640, commencing in July 2018, and a final balloon payment of $3,964, payable together with the last installment.</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; "><b>Heron Vessels Facility: </b>In July 2017, the Company refinanced the Heron Vessels Facility with Tranche B of the ABN Amro Bank N.V. $30,844 Facility discussed above.</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>DNB $120,000 Facility: </b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July 24, 2017 the Company took delivery of the second-hand Supramax vessel <i>Diva</i>, which<i> </i></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">replaced the sold vessel <i>Star Eleonora</i> as a pledged vessel under the DNB $120,000 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>Restructuring </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; ">Pursuant to the Restructuring, as described in </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Note 8 of the Company's consolidated financial statements for the year ended December 31, 2016</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">, the Company agreed with all of its lenders at the time to, among others things, defer principal payments owed from June 1, 2016 through June 30, 2018 (the &#147;Deferred Amounts&#148;) to the due date of the balloon installments of each facility. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental Agreements. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As a result, no principal payments are required to be made until June 30, 2018, for the applicable loan agreements which are part of the Restructuring. The current portion of long term debt as of June 30, 2017, includes (i) the installments to be repaid during the next 12 months under Tranche A of the </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ABN Amro Bank N.V. $30,844 Facility</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">, which was not part of the Restructuring, and (ii) </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">an amount of $3,635 that the Company paid in August 2017 to all parties under the Restructuring in accordance with the terms of the Supplemental Agreements, representing 20% of the equity used for the acquisition of <i>Star Charis</i>, <i>Star Suzanna </i>and<i> Diva </i>(discussed in Note 5)<i> </i>(the &#147;20% Equity Prepayment Amount&#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; ">The Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:</font></div>
<div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Symbol;font-size:13.3px;color:#000000; ">&#8729;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#160;&#160;&#160;&#160;&#160;&#160;&#160;a minimum </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">percentage of aggregate vessel value to secured loans (the security cover ratio or</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#147;SCR&#148;);</font></div>
<div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Symbol;font-size:13.3px;color:#000000; ">&#8729;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#160;&#160;&#160;&#160;&#160;&#160;&#160;a maximum ratio of total liabilities to market value adjusted total assets;</font></div>
<div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Symbol;font-size:13.3px;color:#000000; ">&#8729;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#160;&#160;&#160;&#160;&#160;&#160;&#160;a minimum EBITDA to interest coverage ratio;</font></div>
<div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Symbol;font-size:13.3px;color:#000000; ">&#8729;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#160;&#160;&#160;&#160;&#160;&#160;&#160;a minimum liquidity; and</font></div>
<div style="text-align:justify;margin-left: 72.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Symbol;font-size:13.3px;color:#000000; ">&#8729;</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> &#160;&#160;&#160;&#160;&#160;&#160;&#160;a minimum </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">market value adjusted net worth</font><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; ">In addition, the Supplemental Agreements impose certain restrictions on the Company and specify a quarterly cash sweep mechanism for excess cash generated to be applied towards the payment of Deferred Amounts. For a description of the Restructuring, including the covenants and limitations and the cash sweep mechanism placed upon the Company under the Supplemental Agreements, see &#147;Item 5.&#160; Operating and Financial Review and Prospects -&#160;B. Liquidity and Capital Resources -&#160;The Restructuring Transactions&#148; under the 2016 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; ">As of December 31, 2016 and June 30, 2017, the Company was required to maintain minimum liquidity, not legally restricted, of $47,566 and $52,162, respectively, which is included within &#147;Cash and cash equivalents&#148; in the accompanying consolidated balance sheets. &#160;In addition, as of December 31, 2016 and June 30, 2017, the Company was required to maintain a minimum liquidity, legally restricted, of $14,004 and $20,540 (which amount included a portion of the proceeds from the sale of <i>Star Eleonora</i> that was subsequently released in July 2017 when the vessel <i>Diva</i> (Note 5) replaced the vessel <i>Star Eleonora</i> as a pledged vessel under the DNB $120,000 Facility (Note 8)), 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; ">Under all loan agreements, the Company is not allowed to pay dividends until all Deferred Amounts have been repaid in full. Additionally, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2016 and June 30, 2017, 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;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The principal payments required to be made after June 30, 2017 for all of the then-outstanding bank debt, after giving effect to the Restructuring, are 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;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,532</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">267,630</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">210,064</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135,246</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022</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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">83,078</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2023 and thereafter</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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">64,143</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>767,693</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,263</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>759,430</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Current portion of long term debt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7,532</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long term debt, net</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>751,898</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent: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 2019 Notes mature in November&#160;2019 and are presented in the accompanying consolidated balance sheets as of December 31, 2016 and June 30, 2017 net of unamortized deferred financing fees of $1,243 and $1,028, 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, 2017, 62 of the Company's owned vessels, having a net carrying value of $1,465,411, were subject to first-priority mortgages as collateral to the Company's loan facilities. &#160;In addition, all eight of the Company's bareboat chartered vessels, having a net carrying value of $331,248 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, 2016 and 2017, the Company's existing financing agreements bore interest at a weighted-average rate of approximately 4.0% and 4.58 %, 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. &#160;The amounts of &#147;Interest and finance costs&#148; included in the accompanying consolidated unaudited interim condensed consolidated statements of operations are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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" 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>2016</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>2017</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; ">$19,651 </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; ">$23,008 </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; ">($2,578)</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; ">($1,260)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:38px;"><div style="margin-left: 12.7px;text-indent:0.0px;"><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 (Note 15)</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; ">$667 </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; ">$473 </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; ">$1,561 </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; ">$1,288 </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; ">$393 </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; ">$257 </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>$19,694 </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>$23,766 </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 align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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; ">In connection with the prepayments of certain loans following the sale of the corresponding financed 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, $1,801 and $358 of unamortized deferred finance charges was written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying unaudited interim condensed consolidated statements of operations for the six-month periods ended June 30, 2016 and 2017, respectively. &#160;&#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-indent:0.0px;"></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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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<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>
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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_LongTermDebtTextBlock">
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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 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 470<br> -URI http://asc.fasb.org/topic&amp;trid=2208564<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934310528">
<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>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</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_StockholdersEquityNoteAbstract', window );"><strong>Preferred and Common Shares and Additional Paid-in Capital [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_StockholdersEquityNoteDisclosureTextBlock', window );">Preferred and Common Shares and Additional Paid-in Capital:</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>9.&#160;&#160;&#160;&#160;&#160;&#160;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, 2016, included in the 2016 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><b>Equity offerings</b></i>: </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On February 2, 2017, the Company completed a private placement of 6,310,272 common shares, at a price of $8.154 per share (the &#147;February 2017 Private Placement&#148;), raised for general corporate purposes. The aggregate proceeds to the Company, net of private placement agent's fees and expenses, were approximately $50,554. One of the Company's significant shareholders, Oaktree and its affiliates, purchased a total of 3,244,292 of the common shares in the February 2017 Private Placement.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -URI http://asc.fasb.org/topic&amp;trid=2208762<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6782045792">
<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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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ManagementFeesTextBlock', window );">Management fees:</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>10.&#160;&#160;&#160;&#160;&#160;&#160;Management fees:</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; ">Management fees in the accompanying unaudited interim condensed consolidated statements of operations represent fees incurred by the Company in exchange for certain procurement services provided by Ship Procurement Services S.A. &#160;(&#147;SPS&#148;) at a daily fee of $0.295 per vessel, which for the six-month periods ended June 30, 2016 and 2017 amounted to $3,911 and $3,689, respectively.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for management fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934176848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational gain<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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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>11.&#160;&#160;&#160;&#160;&#160;&#160;Other operational gain:</b></font></div>
<div style="text-align:justify;margin-top:5.0px;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, 2017, the Company recognized other operational gain of $2,461, mainly consisting of an amount of $2,141 resulting from a cash settlement of a commercial dispute.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for other operational gain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934165904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / (Loss) per Share<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Earnings / (Loss) per Share:</a></td>
<td class="text"><div style="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>12.&#160;&#160;&#160;&#160;&#160;&#160;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. &#160;The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. &#160;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-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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><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>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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>
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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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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" 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" colspan="2" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(26,229</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:276px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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>
    <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" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">62,188,645 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"><div style="margin-left: 48.0px;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:90px;"><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:87px;"><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>
    <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" 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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.42)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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" colspan="2" 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;&#160;&#160;&#160;&#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:276px;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:90px;"><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:87px;"><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>
    <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" colspan="2" 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; ">62,188,645 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" 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: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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"><div style="margin-left: 48.0px;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:90px;"><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:87px;"><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>
    <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>
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    <td style="width:90px;"></td>
    <td style="width:21px;"></td>
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<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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; ">Because the Company incurred net losses for the six-month periods ended June 30, 2016 and 2017, the effect of the 690,000 and 1,024,000 non-vested shares and of the 104,250 non-vested share options outstanding as of June 30, 2016 and 2017, respectively, would be anti-dilutive; therefore &#147;Basic earnings / (loss) per share&#148; equals &#147;Diluted earnings / (loss) per share.&#148;</font></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6713660768">
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<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, 2017</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="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>13.&#160;&#160;&#160;&#160;&#160;&#160;Equity Incentive Plans:</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 Equity Incentive Plans and share awards granted up to December 31, 2016 are discussed in Note 12 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 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; ">All non-vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. &#160;The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. &#160;The dividends with respect to these shares are forfeitable. &#160;Share options have no voting or other shareholder rights.</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 February 22, 2017, the Company's Board of Directors adopted the 2017 Equity Incentive Plan (the &#147;2017 Plan&#148;) and reserved for issuance 950,000 common shares thereunder. &#160;The terms and conditions of the 2017 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans. On the same date, 944,000 restricted common shares were granted to certain of our directors and officers, out of which 744,000 shares vested on August 22, 2017. The remaining 200,000 restricted common shares vest on August 22, 2018. During August and September 2017, 737,725 shares were issued in connection with the 2017 Equity Incentive Plan.</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 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. &#160;For the six-month periods ended June 30, 2016 and 2017, the total share-based compensation cost was $2,285 and $6,360, 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:12.0px;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 2017 and the movement during the six-month periods ended June 30, 2016 and 2017, respectively, is presented below.</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; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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  <tr>
    <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>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <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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  <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>
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    <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>
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  <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>
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  <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;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;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"><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;7.0605 </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;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:74px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <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>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <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:141px;"><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>
  </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:205px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Options</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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, 2017</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, 2017</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;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;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7.0605 </b></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 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; ">&#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; ">&#160;</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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:343px;height:24px;"><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:57px;"><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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left: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:106px;"><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:343px;height:7px;"><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:57px;"><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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><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:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#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:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;(1,685)</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: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;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;(133,545)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:68px;"><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;690,000 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;3.75 </b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:343px;height:8px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:68px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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, 2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">385,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4.82</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;944,000 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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: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;&#160;&#160;&#160;&#160;9.59 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent: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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(305,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-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;&#160;&#160;&#160;&#160;4.94 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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, 2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,024,000</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9.18</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent: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 estimated compensation cost relating to non-vested restricted share awards and share options not yet recognized was $3,689 and $410, respectively, as of June 30, 2017 and is expected to be recognized over the weighted average period of 0.56 years and 2.79 years, respectively.</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-indent:0.0px;"></div><span></span>
</td>
</tr>
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<div style="display: none;">
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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> -URI http://asc.fasb.org/topic&amp;trid=2228938<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> -URI http://asc.fasb.org/subtopic&amp;trid=2208855<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934051232">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2017</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_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_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies:</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>14.&#160;&#160;&#160;&#160;&#160;&#160;Commitments and Contingencies:</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>a)&#160;&#160;&#160;&#160;&#160;&#160;Lease commitments</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 following table sets forth inflows and outflows related to the Company's leases, as at June 30, 2017.</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:224px;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:418px;"><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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"><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>2018</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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:55px;"><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:55px;"><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:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2022</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2023 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$32,960 </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; ">$32,960 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:224px;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:66px;"><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;(552)</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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(552)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:224px;height:12px;"><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 (3) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(56,382)</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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,517)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,681)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,646)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,609)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,570)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;(36,359)</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"><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;(23,974)</b></font></div></td>
    <td valign="middle" style=" border-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>&#160;$ &#160;&#160;&#160;&#160;&#160;30,891 </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,681)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,646)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,609)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,570)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ (36,359)</b></font></div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></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:10.7px;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 commissions, 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:10.7px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for <i>Astakos</i>. The lease has expired in August 2017.</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:10.7px;color:#000000; ">&#160;(3)&#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. &#160;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 1.45%, as of June 30, 2017.</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>b)&#160;&#160;&#160;&#160;&#160;&#160;Legal proceedings</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; ">Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. &#160;In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. &#160;The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. &#160;Currently, management is not aware of, 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; ">As described on Item 8 of the 2016 Annual Report, o</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">n October 23, 2014, a purported shareholder (the &#147;Plaintiff&#148;) of Star Bulk Carriers Corp. filed a derivative and putative class action lawsuit in New York state court against 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 and has denied them and defended 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's motion to dismiss in full and dismissed the matter. On February 24, 2016, Plaintiff filed a notice of appeal. The appeal was heard before the Court of Appeals for the Second Circuit on December 6, 2016. I</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">n April 2017, the Court of Appeal dismissed the appeal in all respects and affirmed the first instance judgment. Plaintiff filed a petition for panel rehearing and/or rehearing en banc, which petition was dismissed in June 2017. In September 2017, Plaintiff filed a petition for certiorari in the U.S. Supreme Court seeking review of the Second Circuit's affirmance of dismissal of the complaint, which petition is now pending. The Company cannot predict the outcome of the case.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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> -URI http://asc.fasb.org/topic&amp;trid=2127136<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br></p></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6782074864">
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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>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</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_FairValueDisclosuresTextBlock', window );">Fair value measurements:</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;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; ">Details of the Company's interest rate swap are discussed in Note 18 of the Company's consolidated financial statements for the year ended December 31, 2016, included in the 2016 Annual Report. Major terms are summarized below: </font></div>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><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:64px;"><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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Notional amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Counterparty </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Inception</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Expiry</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:85px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Fixed Rate </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7925%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8075%</font></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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2.0675%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;39,240 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8450%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8025%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,860 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH - Star Challenger</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 30, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 28, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7650%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,719 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH - Star Fighter </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 30, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 28, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7650%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,854 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole - Star Borealis</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">November 10, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August 9, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7200%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;21,986 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole - Star Polaris</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August 11, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">November 9, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7050%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,132 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:9px;"><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="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><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:64px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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="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:105px;"><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;451,088 </b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent: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 gains/losses from cash flow hedges.</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 ($125) is expected to be reclassified into earnings during the following 12-month period when realized.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Forward Freight Agreements (&#147;FFAs&#148;):</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the year ended December 31, 2016 and the six-month period ended June 30, 2017, the Company entered into a certain number of FFAs on the Capesize, Panamax and Supramax indexes. There was no FFA open position as of June 30, 2017. </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; ">The amounts of Gain / (Loss) on derivative financial instruments and forward freight agreements recognized in the accompanying unaudited interim condensed consolidated statements of operations, 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;</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-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:416px;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:45px;"><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:194px;"><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:416px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;">&#160;</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>2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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:13.3px;color:#000000; "><b>2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"><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:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width: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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><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:416px;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 financial instruments, net</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><div style="text-indent:26.7px;"><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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,930)</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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><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;1,642 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><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: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;(2,709)</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:29px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,542)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:38px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><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: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;&#160;&#160;(42)</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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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 financial instruments, net</b> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,681)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"><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;100 </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"><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:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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:29px;"><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:79px;"><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:416px;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:45px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><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: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;(667)</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:29px;"><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:79px;"><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;(473)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:26px;"><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:45px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </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:79px;"><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;(473)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:13px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Gain/(loss) on forward freight agreements</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;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; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gain/(loss) on forward freight agreements</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;283 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(500)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gain/(loss) on forward freight agreements</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width: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;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><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;(41)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;283 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(541)</font></div></td>
  </tr>
  <tr>
    <td style="width:416px;"></td>
    <td style="width:45px;"></td>
    <td style="width:67px;"></td>
    <td style="width:18px;"></td>
    <td style="width:29px;"></td>
    <td style="width:79px;"></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; ">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) / income&#148; as of June 30, 2017, 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;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. &#160;This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. &#160;The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 1:&#160;&#160;&#160;&#160;&#160;&#160;Quoted market prices in active markets for identical assets or liabilities</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 2:&#160;&#160;&#160;&#160;&#160;&#160;Observable market-based inputs or unobservable inputs that are corroborated by market data</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Level 3:&#160;&#160;&#160;&#160;&#160;&#160;Unobservable inputs that are not corroborated by market data</font></div>
<div style="text-align:justify;margin-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, 2016 and June 30, 2017 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</font></div>
<div style="text-align:justify;margin-top:3.0px;margin-bottom:3.0px;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;"></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:261px;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="9" style=" border:solid #000000 0.0px;width:450px;"><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:261px;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:234px;"><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, 2016</b></font></div></td>
    <td valign="middle" colspan="5" 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, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:261px;height:25px;"><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:126px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="2" 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:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="2" 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:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="3" 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:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:261px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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: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" colspan="2" 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" colspan="3" 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" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Forward freight agreements &#160;- asset position </font></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:126px;"><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;41 </font></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:107px;"><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" 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:109px;"><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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></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:106px;"><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" colspan="2" style=" border:solid #000000 0.0px;width:266px;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>Total</b> </font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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;41 </b></font></div></td>
    <td valign="middle" colspan="2" 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>-</b></font></div></td>
    <td valign="middle" colspan="2" 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;-</b></font></div></td>
    <td valign="middle" colspan="2" 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>-</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Forward freight agreements - liability position</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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" colspan="2" 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; ">-</font></div></td>
    <td valign="middle" colspan="2" 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; ">&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" colspan="2" 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; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;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" 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:126px;"><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;2,908 </font></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:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">437</font></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: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;1,963 </font></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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">241</font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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>Total</b> </font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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;2,908 </b></font></div></td>
    <td valign="middle" colspan="2" 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>437</b></font></div></td>
    <td valign="middle" colspan="2" 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;1,963 </b></font></div></td>
    <td valign="middle" colspan="2" 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>241 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:261px;"></td>
    <td style="width:4px;"></td>
    <td style="width:122px;"></td>
    <td style="width:4px;"></td>
    <td style="width:103px;"></td>
    <td style="width:4px;"></td>
    <td style="width:104px;"></td>
    <td style="width:4px;"></td>
    <td style="width:101px;"></td>
    <td style="width:4px;"></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; ">The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. &#160;The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2017.</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 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 $49,420, as of June 30, 2017.</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 non-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; ">As further discussed in Note&#160;5, the Company recognized an impairment loss of $6,694 for the six month period ended June 30, 2016, of which:</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i)&#160;&#160;&#160;&#160;&#160;&#160;$5,626 relates to the sale of<i> Star Michele</i>. As discussed in Note 5, the Company was in negotiations to sell this vessel as of March&#160;31, 2016, and reached an agreement for the sale in April&#160;2016. &#160;The carrying value of this vessel was written down to its fair value as determined by reference to its agreed sale price less costs of sale.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii)&#160;&#160;&#160;&#160;&#160;&#160;$1,068 relates to the termination of two shipbuilding contracts in February&#160;2016.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:-48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">No such case for long-lived assets held and used existed as of June 30, 2017.</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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -URI http://asc.fasb.org/topic&amp;trid=2155941<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934103072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<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>16.&#160;&#160;&#160;&#160;&#160;&#160;Subsequent Events:</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>a)&#160;&#160;&#160;&#160;&#160;&#160;Loan developments</b></font></div>
<div style="text-align:justify;margin-left: 12.0px;margin-bottom:12.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">- &#160;&#160;&#160;&#160;&#160;&#160;&#160;In July 2017, the Company refinanced the Heron Vessels Facility through Tranche B of the ABN AMRO Bank N.V. $30,844 Facility (Note 8).</font></div>
<div style="text-align:justify;margin-left: 12.0px;margin-bottom:12.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>- &#160;&#160;&#160;&#160;&#160;&#160;&#160;</b>In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental 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; "><b>b)&#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 </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">July 24, 2017 the Company took delivery of the vessel <i>Diva</i> for a purchase price of $10,500 (Note 5). The vessel replaced </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">the sold vessel <i>Star Eleonora</i> as a pledged vessel under the DNB $120,000 Facility (Note 8).</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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934130624">
<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>
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<tr><th class="th"><div>Jun. 30, 2017</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><u>Recent Accounting pronouncements</u>:</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; "><i><b>Revenue from Contracts with Customers (&#147;Topic 606&#148;):</b></i> 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 each contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in each contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The amendments in Update 2016-10 clarify the following two aspects of Topic 606: (a) identifying performance obligations and (b) licensing implementation guidance. The amendments in Update 2016-12 similarly affect only certain narrow aspects of Topic 606, including, (i) &#147;Assessing the Collectability 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; (ii) &#147;Presentation of Sales Taxes and Other Similar Taxes Collected from Customers,&#148; (iii) &#147;Noncash Consideration,&#148; (iv) &#147;Contract Modifications at Transition,&#148; (v) &#147;Completed Contracts at Transition,&#148; and (vi) &#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. In December 2016, the FASB also issued ASU 2016-20, &#147;<i>Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers</i>.&#148; The amendments in the latest Update 2016-20 represent changes to make minor corrections/improvements to the codification that are not expected to have a significant effect on current accounting practice. 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. The new revenue standard may be applied using either of the following transition methods: (1) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (2) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which includes additional footnote disclosures). ASU 2014-09 is effective for the Company January 1, 2018, and the Company expects to use the modified retrospective approach upon adoption. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company's method of determining proportional performance might change from discharge-to-discharge to load-to-discharge. This will result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. This change will result in revenue being recognized later in the voyage, which may cause additional volatility in revenue and earnings between periods. The Company is in the process of validating aspects of ASU 2014-09, quantifying the effect that the adoption of the ASU 2014-09 will have on its financial statements and accompanying notes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09.</font><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>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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6661848512">
<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>
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<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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><div style="text-align:justify;text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><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: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:353px;height:23px;"><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:solid #000000 0.0px;width:17px;"><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: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>December 31, 2016</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>June 30, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Due from related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:353px;height:10px;"><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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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; ">922</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;148 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="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: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:101px;"><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;</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;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Ocean Manning Philipines Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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>Due from related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>922</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>228</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Due to related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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:353px;height:10px;"><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:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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:86px;"><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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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; ">&#160;</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; ">26</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; ">3</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sydelle profit sharing agreement </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">159</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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; ">&#160;</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; ">323</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; ">157</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><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:353px;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>Due to related parties</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family: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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>356</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>334</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:11px;"><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:17px;"><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:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><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:353px;height:10px;"><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><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;height:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-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:227px;"><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:353px;height:11px;"><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 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:101px;"><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>
    <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>2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:21px;"><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:17px;"><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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,650)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ </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;(1,650)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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: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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(248)</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;&#160;&#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;(250)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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:17px;"><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:101px;"><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;(75)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#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;(72)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><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: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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#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)</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;(17)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Office rent - Alma Properties </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border: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: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;(2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:10px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sydelle profit sharing agreement</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-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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;(159)</font></div></td>
  </tr>
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</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
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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_RelatedPartyTransactionsAbstract</td>
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<tr>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock">
<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>Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock</td>
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<td>nonnum:textBlockItemType</td>
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<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934188320">
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<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, 2017</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, 2016</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:88px;"><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, 2017</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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,629</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,358</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; ">7,905</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:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,800</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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,534</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:88px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,158</b></font></div></td>
  </tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the 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>
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6944866192">
<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, 2017</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_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_PropertyPlantAndEquipmentTextBlock', window );">Schedule of vessels and other fixed assets, net</a></td>
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<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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, 2016</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:72px;"><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, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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:72px;"><div style="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:280px;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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,037,737</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,165,892</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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; ">1,898</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,984</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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>2,039,635</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,167,876</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:280px;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; ">(332,426</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(370,933</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:280px;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>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,707,209</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,796,943</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, 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; ">$</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; ">22,465</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; ">29,691</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; ">32,764</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; ">32,452</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</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; ">32,500</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, 2023 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; ">163,218</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>313,090</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; ">Unamortized deferred finance fees</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37 </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, net</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>313,053</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; ">78,217</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>234,836</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; ">9,120</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; ">225,716</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>
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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_PropertyPlantAndEquipmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentTextBlock</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>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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=84164817&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_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934287536">
<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, 2017</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, 2016</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, 2017</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>
  </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; ">32,602</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; ">30,102</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; ">Advances for vessels acquisitions (Note 5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,050</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; ">25,272</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; ">10,460</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;">&#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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,966</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:74px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,590</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; ">1,730</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; ">1,270</font></div></td>
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  <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;">&#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 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>64,570</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>$</b></font></div></td>
    <td valign="middle" style=" border-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>46,472</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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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6782002112">
<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, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract', window );"><strong>Long-term Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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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_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Long-term debt, Principal payments</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><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:353px;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; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,532</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">267,630</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">210,064</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">135,246</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2022</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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">83,078</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2023 and thereafter</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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">64,143</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>767,693</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,263</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;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: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>759,430</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Current portion of long term debt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7,532</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:353px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Long term debt, net</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family: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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>751,898</b></font></div></td>
  </tr>
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<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>2016</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>2017</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; ">$19,651 </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; ">$23,008 </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; ">($2,578)</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; ">($1,260)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:373px;height:38px;"><div style="margin-left: 12.7px;text-indent:0.0px;"><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 (Note 15)</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; ">$667 </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; ">$473 </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; ">$1,561 </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; ">$1,288 </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; ">$393 </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; ">$257 </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>$19,694 </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>$23,766 </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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of interest and finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934276304">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / Loss per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings / Loss per Share [Abstract]</strong></a></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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="6" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:241px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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>
    <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" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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" 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" colspan="2" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(26,229</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:276px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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>
    <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" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">62,188,645 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"><div style="margin-left: 48.0px;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:90px;"><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:87px;"><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>
    <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" 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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.42)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-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" colspan="2" 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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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:87px;"><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" colspan="2" 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;&#160;&#160;&#160;&#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:276px;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:90px;"><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:87px;"><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>
    <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" colspan="2" 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; ">62,188,645 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;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:90px;"><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>
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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; ">&#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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:276px;height:13px;"><div style="margin-left: 48.0px;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>
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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>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</div></th></tr>
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  <tr>
    <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>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <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:141px;"><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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  <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:205px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Options</b></font></div></td>
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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;</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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  <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>
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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>
    <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>
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  <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>
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  <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;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;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"><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;7.0605 </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:205px;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:74px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <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>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <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:141px;"><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>
  </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:205px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Options</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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, 2017</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, 2017</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;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;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;27.5 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7.0605 </b></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_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Restricted Shares, 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:343px;height:24px;"><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:57px;"><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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left: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:106px;"><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:343px;height:7px;"><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:57px;"><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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><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:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;</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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#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:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;(1,685)</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: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;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;(133,545)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width: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;&#160;&#160;17.75 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:68px;"><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;690,000 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size: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;3.75 </b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:343px;height:8px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:68px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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, 2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">385,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4.82</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:7px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;"><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;944,000 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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: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;&#160;&#160;&#160;&#160;9.59 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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:57px;"><div style="text-align:right;text-indent: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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(305,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-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;&#160;&#160;&#160;&#160;4.94 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:343px;height:8px;"><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, 2017</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:68px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,024,000</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9.18</b></font></div></td>
  </tr>
</table>
<div></div><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 );">- 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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" 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><strong> Period Type:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6713660768">
<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, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock', window );">Schedule of future minimum contractual obligations</a></td>
<td class="text"><div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:418px;"><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:224px;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:66px;"><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>2018</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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:55px;"><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:55px;"><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:55px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2022</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2023 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$32,960 </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; ">$32,960 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:224px;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:66px;"><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;(552)</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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(552)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family: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:224px;height:12px;"><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 (3) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(56,382)</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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,517)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,681)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,646)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,609)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:55px;"><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;(4,570)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;(36,359)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:224px;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:66px;"><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;(23,974)</b></font></div></td>
    <td valign="middle" style=" border-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>&#160;$ &#160;&#160;&#160;&#160;&#160;30,891 </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,681)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,646)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,609)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:55px;"><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;(4,570)</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ (36,359)</b></font></div></td>
  </tr>
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    <td style="width:224px;"></td>
    <td style="width:66px;"></td>
    <td style="width:58px;"></td>
    <td style="width:55px;"></td>
    <td style="width:55px;"></td>
    <td style="width:55px;"></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></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:10.7px;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 commissions, 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:10.7px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for <i>Astakos</i>. The lease has expired in August 2017.</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:10.7px;color:#000000; ">&#160;(3)&#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. &#160;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 1.45%, as of June 30, 2017.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"></div><span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CommitmentsAndContingenciesDisclosureAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<a href="javascript:void(0);" 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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</DOCUMENT>
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<TYPE>XML
<SEQUENCE>41
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779587936">
<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, 2017</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_ScheduleOfInterestRateDerivativesTableTextBlock', window );">Fair value measurements on a recurring basis - Interest rate swaps</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">
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><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:64px;"><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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Notional amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Counterparty </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Inception</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Expiry</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:85px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Fixed Rate </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7925%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8075%</font></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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2.0675%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;39,240 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8450%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,099 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Goldman Sachs </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October 1, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">April 1, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.8025%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,860 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH - Star Challenger</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 30, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 28, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7650%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,719 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH - Star Fighter </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 30, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September 28, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7650%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,854 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole - Star Borealis</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">November 10, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August 9, 2018</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7200%</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;21,986 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:8px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole - Star Polaris</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August 11, 2014</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:109px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">November 9, 2018</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1.7050%</font></div></td>
    <td valign="bottom" 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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,132 </font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:167px;height:9px;"><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="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:109px;"><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:64px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width: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="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:105px;"><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;451,088 </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_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:416px;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:45px;"><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:194px;"><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:416px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;">&#160;</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>2016</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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:13.3px;color:#000000; "><b>2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"><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:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width: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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><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:416px;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 financial instruments, net</b></i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><div style="text-indent:26.7px;"><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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,930)</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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;$ </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><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;1,642 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><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: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;(2,709)</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:29px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,542)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:38px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><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: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;&#160;&#160;(42)</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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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 financial instruments, net</b> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,681)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"><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;100 </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;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:45px;"><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:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="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:29px;"><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:79px;"><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:416px;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:45px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:25px;"><div style="margin-left: 22.2px;text-indent:0.0px;"><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:45px;"><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: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;(667)</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:29px;"><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:79px;"><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;(473)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:26px;"><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:45px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(667)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </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:79px;"><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;(473)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:13px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:79px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Gain/(loss) on forward freight agreements</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;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; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gain/(loss) on forward freight agreements</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><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; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;283 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(500)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gain/(loss) on forward freight agreements</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:45px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width: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;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"><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;(41)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:416px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;283 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;$ </b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(541)</font></div></td>
  </tr>
  <tr>
    <td style="width:416px;"></td>
    <td style="width:45px;"></td>
    <td style="width:67px;"></td>
    <td style="width:18px;"></td>
    <td style="width:29px;"></td>
    <td style="width:79px;"></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_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:261px;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="9" style=" border:solid #000000 0.0px;width:450px;"><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:261px;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:234px;"><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, 2016</b></font></div></td>
    <td valign="middle" colspan="5" 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, 2017</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:261px;height:25px;"><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:126px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="2" 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:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="2" 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:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="middle" colspan="3" 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:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:261px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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: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" colspan="2" 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" colspan="3" 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" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Forward freight agreements &#160;- asset position </font></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:126px;"><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;41 </font></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:107px;"><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" 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:109px;"><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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></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:106px;"><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" colspan="2" style=" border:solid #000000 0.0px;width:266px;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>Total</b> </font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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;41 </b></font></div></td>
    <td valign="middle" colspan="2" 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>-</b></font></div></td>
    <td valign="middle" colspan="2" 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;-</b></font></div></td>
    <td valign="middle" colspan="2" 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>-</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:107px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:109px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Forward freight agreements - liability position</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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" colspan="2" 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; ">-</font></div></td>
    <td valign="middle" colspan="2" 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; ">&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" colspan="2" 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; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;height:12px;"><div style="text-align:justify;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" 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:126px;"><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;2,908 </font></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:107px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">437</font></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: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;1,963 </font></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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">241</font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:266px;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>Total</b> </font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:126px;"><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;2,908 </b></font></div></td>
    <td valign="middle" colspan="2" 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>437</b></font></div></td>
    <td valign="middle" colspan="2" 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;1,963 </b></font></div></td>
    <td valign="middle" colspan="2" 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>241 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:261px;"></td>
    <td style="width:4px;"></td>
    <td style="width:122px;"></td>
    <td style="width:4px;"></td>
    <td style="width:103px;"></td>
    <td style="width:4px;"></td>
    <td style="width:104px;"></td>
    <td style="width:4px;"></td>
    <td style="width:101px;"></td>
    <td style="width:4px;"></td>
  </tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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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=84234895&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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these 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 4C<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br></p></div>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791564112">
<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="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 20, 2016</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr 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>
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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_ConversionOfStockByUniqueDescriptionAxis=sblk_ReverseStockSplitMember', window );">Reverse stock split</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 " 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>
</tr>
<tr class="ro">
<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 split of its issued and outstanding common shares.<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>
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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_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
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<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>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
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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>
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<head>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791254064">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Due from related parties</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">$ 228<span></span>
</td>
<td class="nump">$ 922<span></span>
</td>
</tr>
<tr class="re">
<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>Due to related parties</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">334<span></span>
</td>
<td class="nump">356<span></span>
</td>
</tr>
<tr class="rh">
<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>Due from related parties</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">148<span></span>
</td>
<td class="nump">922<span></span>
</td>
</tr>
<tr class="ro">
<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>Due to related parties</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">3<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rh">
<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_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Due from related parties</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_StarOceanManningPhilipinesIncMember', window );">Star Ocean Manning Philipines 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_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Due from related parties</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">80<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Due to related parties</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">8<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_SydelleMember', window );">Sydelle profit sharing agreement</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>Due to related parties</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">159<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember', window );">Management and Directors Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>Due to related parties</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">157<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="rh">
<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>Due to related parties</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>
</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=82887183&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>
</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>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_StarOceanManningPhilipinesIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_StarOceanManningPhilipinesIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_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>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_SydelleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_SydelleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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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_ManagedVesselsOceanBulkShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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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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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6791653856">
<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, 2017</div></th>
<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_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">$ (1,736)<span></span>
</td>
<td class="num">$ (1,918)<span></span>
</td>
</tr>
<tr class="re">
<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">143,471<span></span>
</td>
<td class="nump">98,862<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember', window );">Interchart</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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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_RelatedPartyCosts', window );">Voyage expenses</a></td>
<td class="num">(1,650)<span></span>
</td>
<td class="num">(1,650)<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember', window );">Executive directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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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">(250)<span></span>
</td>
<td class="num">(248)<span></span>
</td>
</tr>
<tr class="rh">
<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>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NonExecutiveDirectorsCompensation', window );">Compensation</a></td>
<td class="num">(72)<span></span>
</td>
<td class="num">(75)<span></span>
</td>
</tr>
<tr class="rh">
<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>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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_AlmaPropertiesMember', window );">Alma Properties</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>
</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_LeaseAndRentalExpense', window );">Office rent</a></td>
<td class="num">(2)<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_SydelleMember', window );">Sydelle profit sharing agreement</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>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageRevenues', window );">Voyage revenues</a></td>
<td class="num">$ (159)<span></span>
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<td class="nump">$ 0<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>
</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_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_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_AlmaPropertiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_AlmaPropertiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_SydelleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_SydelleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>45
<FILENAME>R37.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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934216784">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">$ 7,358<span></span>
</td>
<td class="nump">$ 6,629<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_BunkerInventoryCurrent', window );">Bunkers</a></td>
<td class="nump">6,800<span></span>
</td>
<td class="nump">7,905<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
<td class="nump">$ 14,158<span></span>
</td>
<td class="nump">$ 14,534<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=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<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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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934151216">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">$ 1,796,943<span></span>
</td>
<td class="nump">$ 1,707,209<span></span>
</td>
</tr>
<tr class="rh">
<td 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">2,165,892<span></span>
</td>
<td class="nump">2,037,737<span></span>
</td>
</tr>
<tr class="ro">
<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">1,984<span></span>
</td>
<td class="nump">1,898<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">2,167,876<span></span>
</td>
<td class="nump">2,039,635<span></span>
</td>
</tr>
<tr class="ro">
<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">$ (370,933)<span></span>
</td>
<td class="num">$ (332,426)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross amount of vessel acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAndOtherFixedAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents vessels and other fixed assets, net of accumulated depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAndOtherFixedAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</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_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>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<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>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6777194272">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Lease commitments - current portion</a></td>
<td class="nump">$ 9,120<span></span>
</td>
<td class="nump">$ 6,235<span></span>
</td>
</tr>
<tr class="re">
<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">225,716<span></span>
</td>
<td class="nump">152,613<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">June 30, 2018</a></td>
<td class="nump">22,465<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2019</a></td>
<td class="nump">29,691<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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, 2020</a></td>
<td class="nump">32,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2021</a></td>
<td class="nump">32,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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, 2022</a></td>
<td class="nump">32,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">June 30, 2023 and thereafter</a></td>
<td class="nump">163,218<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">313,090<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 finance fees</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">$ 39<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_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1', window );">Total lease commitments, net</a></td>
<td class="nump">313,053<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">78,217<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">234,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">9,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 225,716<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=84164817&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=84164758&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=84164817&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=84164758&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=84164817&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=84164817&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_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 net of executory costs, which include 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=84164817&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_CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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=84164817&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_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>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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>48
<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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6797842256">
<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="2">2 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="1"></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. 22, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 15, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 27, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 24, 2017 </div>
<div>USD ($)</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 116,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 388,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 );">Gain / (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="num">(370)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(21)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIssuanceDate1', window );">Issuance date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">January 6, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="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">January 8, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">February 26, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 33,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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 $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="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">March 2, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">March 11, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="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">June 6, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_OperatingVesselsMember', window );">Operating 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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsSold', window );">Number of vessels sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsIIMember', window );">Newbuilding vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsSold', window );">Number of vessels sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<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">$ 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_StarVirgoMember', window );">Star Virgo</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="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">March 1, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAriadneMember', window );">Star Ariadne</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">March 28, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember', window );">Kamsarmax vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Number of vessels acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCharisMember', window );">Star Charis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">March 22, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSuzannaMember', window );">Star Suzanna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="ro">
<td class="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">May 15, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 15,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DivaMember', window );">Diva</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<td class="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">July 24, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">56,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">$ 10,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=sblk_Tranche1Member', window );">Tranche A | ABN Amro Bank $30,844 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from issuance of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000<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_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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>
</tr>
<tr class="re">
<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="nump">8<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="nump">$ 5,805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="nump">331,248<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Capital leased assets, Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,298<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DeliveryDateVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date of the vessel delivery to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DeliveryDateVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfVesselFinancedByDebtInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of vessels financed by the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfVesselFinancedByDebtInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of vessels acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of vessels sold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=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=98514028&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=84164817&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=84164758&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=82846649&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_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=64930739&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentIssuanceDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the debt instrument was issued, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentIssuanceDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=98514028&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_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=77915053&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_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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(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_LineOfCreditFacilityAxis=sblk_ABNAmroBankFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_ABNAmroBankFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
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<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934468464">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</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">$ 46,472<span></span>
</td>
<td class="nump">$ 64,570<span></span>
</td>
</tr>
<tr class="rh">
<td class="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">30,102<span></span>
</td>
<td class="nump">32,602<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForSecondhandVessels', window );">Advances for vessels acquisitions (Note 5)</a></td>
<td class="nump">1,050<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedUpfrontHireAndHandlingFees', window );">Bareboat capital leases - upfront hire &amp; handling fees</a></td>
<td class="nump">10,460<span></span>
</td>
<td class="nump">25,272<span></span>
</td>
</tr>
<tr class="ro">
<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">3,590<span></span>
</td>
<td class="nump">4,966<span></span>
</td>
</tr>
<tr class="re">
<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">1,270<span></span>
</td>
<td class="nump">1,730<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">$ 46,472<span></span>
</td>
<td class="nump">$ 64,570<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedCapitalizedInterestAndFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated interest and finance costs as part of vessels under construction and acquisitions cost basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedCapitalizedInterestAndFinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedPreDeliveryYardInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of pre-delivery installments to the yard, for vessels under construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedPreDeliveryYardInstallments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedUpfrontHireAndHandlingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of upfront hire &amp; handling fees for vessels under capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedUpfrontHireAndHandlingFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AdvancesForSecondhandVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discloses the period end balance amount of advances for Secondhand vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdvancesForSecondhandVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_CapitalizedCostsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated other capitalized costs for vessels under construction and acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_CapitalizedCostsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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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_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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</body>
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<DOCUMENT>
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<head>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6780131872">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</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_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_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">$ 5,857<span></span>
</td>
<td class="nump">$ 6,447<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember', window );">Newbuilding Vessels or Lease Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 103,492<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_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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" 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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_RefundReceivableFromShipyardsMember', window );">Refund receivable from the shipyards</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 " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">$ 1,604<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>
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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_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_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_NewbuildingVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_RefundReceivableFromShipyardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_RefundReceivableFromShipyardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779559472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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="nump">$ 0<span></span>
</td>
<td class="nump">$ 254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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_AssetsFairValueAdjustment', window );">Assets fair value adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="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_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="text">&#160;<span></span>
</td>
<td class="nump">$ 1,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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="text">&#160;<span></span>
</td>
<td class="nump">$ 254<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_AssetsFairValueAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of addition (reduction) to the amount at which an asset could be incurred (settled) in a current transaction between willing parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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_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_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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779934016">
<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, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtRollingMaturityAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of long term debt</a></td>
<td class="nump">$ 7,532<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_LongTermLoansFromBank', window );">Long term debt, net</a></td>
<td class="nump">751,898<span></span>
</td>
<td class="nump">743,719<span></span>
</td>
</tr>
<tr class="rh">
<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_LongTermDebtRollingMaturityAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths', window );">June 30, 2018</a></td>
<td class="nump">7,532<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2019</a></td>
<td class="nump">267,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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, 2020</a></td>
<td class="nump">210,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2021</a></td>
<td class="nump">135,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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, 2022</a></td>
<td class="nump">83,078<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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, 2023 and thereafter</a></td>
<td class="nump">64,143<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">767,693<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">8,263<span></span>
</td>
<td class="nump">$ 9,214<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total Long term debt, net</a></td>
<td class="nump">759,430<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">7,532<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 751,898<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_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>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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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<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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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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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<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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<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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6944915392">
<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, 2017</div></th>
<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_LongTermDebtByCurrentAndNoncurrentAbstract', window );"><strong>Long-term Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest on long term debt and capital leases</a></td>
<td class="nump">$ 23,008<span></span>
</td>
<td class="nump">$ 19,651<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalizedAdjustment', window );">Less: Interest capitalized</a></td>
<td class="num">(1,260)<span></span>
</td>
<td class="num">(2,578)<span></span>
</td>
</tr>
<tr class="ro">
<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 15)</a></td>
<td class="nump">473<span></span>
</td>
<td class="nump">667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred finance charges</a></td>
<td class="nump">1,288<span></span>
</td>
<td class="nump">1,561<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_OtherFinancialServicesCosts', window );">Other bank and finance charges</a></td>
<td class="nump">257<span></span>
</td>
<td class="nump">393<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">$ 23,766<span></span>
</td>
<td class="nump">$ 19,694<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=98514028&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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and debt related expenses associated with nonoperating financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpense</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalizedAdjustment</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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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></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=84234895&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherFinancialServicesCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other financial services costs incurred during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6796007424">
<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="4">6 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jul. 07, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 27, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 226,882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 140,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 181,758<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_LongtermDebtWeightedAverageInterestRate', window );">Weighted average interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Write off of unamortized deferred financing fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,801<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIssuanceDate1', window );">Issuance date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 23,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfLoanTranches', window );">Number of loan tranches</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility | Tranche A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from issuance of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateral', window );">Vessels provided as security</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Tranche A is secured by Star Charis and Star Suzanna<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 30,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFrequencyOfPeriodicPayment', window );">Frequency of payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDateOfFirstRequiredPayment1', window );">Date of first required payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep. 30,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility | Tranche A - First 4 installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility | Tranche A - Last 16 installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_ABNAmroBankFacilityMember', window );">ABN Amro Bank $30,844 Facility | Tranche B</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from issuance of debt</a></td>
<td class="nump">$ 14,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateral', window );">Vessels provided as security</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Tranche B is secured by Star Angelina and Star Gwyneth<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 30,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFrequencyOfPeriodicPayment', window );">Frequency of payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDateOfFirstRequiredPayment1', window );">Date of first required payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 30,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,964<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_RestructuringLetterAgreementsMember', window );">Restructuring Letter Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DebtInstrumentPrepaymentAmount', window );">Prepayment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,635<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_PercentageOfEquityUsedForAcquisition', window );">Percentage of the equity used for the acquisition 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="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCharisMember', window );">Star Charis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">March 22, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSuzannaMember', window );">Star Suzanna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">May 15, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DivaMember', window );">Diva</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">56,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">July 24, 2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContractsTerminated', window );">Number of newbuilding contracts terminated</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAxis=us-gaap_CashAndCashEquivalentsMember', window );">Not legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 52,162<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="nump">47,566<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAxis=sblk_RestrictedCashCashEquivalentsMember', window );">Legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,540<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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 );">2019 Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov. 30,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 finance fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfVessels', window );">Number of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="nump">$ 1,465,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsNumberOfUnits', window );">Capital leased assets, Number of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="nump">$ 331,248<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></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_DebtInstrumentPrepaymentAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt prepaid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DebtInstrumentPrepaymentAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_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_LineOfCreditFacilityNumberOfRepaymentInstallment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of repayment installments of a credit facility agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_LineOfCreditFacilityNumberOfRepaymentInstallment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfLoanTranches">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of tranches under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfLoanTranches</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfNewbuildingContractsTerminated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of newbuilding contracts terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfNewbuildingContractsTerminated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfVesselFinancedByDebtInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of vessels financed by the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfVesselFinancedByDebtInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_PercentageOfEquityUsedForAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the equity used for the acquisition of the vessels, required to be prepaid under the terms of the Restructuring Supplemental Agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_PercentageOfEquityUsedForAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=84164817&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> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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 210.5-02.1)<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_DebtInstrumentCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discussion of whether the debt instrument is secured or unsecured, and, if secured, a description of the collateral and guarantees required or provided.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><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 (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&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_DebtInstrumentCollateral</td>
</tr>
<tr>
<td style="padding-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_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=75038535&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_DebtInstrumentDateOfFirstRequiredPayment1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentDateOfFirstRequiredPayment1</td>
</tr>
<tr>
<td style="padding-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_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_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=64930739&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFrequencyOfPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the frequency of periodic payments (monthly, quarterly, annual).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFrequencyOfPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentIssuanceDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the debt instrument was issued, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentIssuanceDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments including both interest and principal payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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 (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&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_DebtInstrumentPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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=98514028&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_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 calculated at point in time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">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_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 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)(2))<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 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<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_RestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ABNAmroBankFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_ABNAmroBankFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_Tranche1FirstFourInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=sblk_Tranche1FirstFourInstallmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=sblk_TrancheLastSixteenInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_TrancheLastSixteenInstallmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_RestructuringLetterAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_RestructuringLetterAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCharisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCharisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSuzannaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSuzannaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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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_DivaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DivaMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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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_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>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAxis=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_CashAndCashEquivalentsAxis=us-gaap_CashAndCashEquivalentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAxis=sblk_RestrictedCashCashEquivalentsMember</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_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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<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_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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAxis=sblk_CrossCollateralBareboatVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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>
</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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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934224896">
<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, 2017</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">The Company's credit facilities contain financial covenants and undertakings requiring the Company to maintain various financial ratios, including:
- a minimum percentage of aggregate vessel value to secured loans (the security cover ratio or "SCR");
- a maximum ratio of total liabilities to market value adjusted total assets;
- a minimum EBITDA to interest coverage ratio;
- a minimum liquidity; and
- a minimum market value adjusted net worth.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDividendRestrictions', window );">Line of Credit Facility, Dividend Restrictions</a></td>
<td class="text">Under all loan agreements, the Company is not allowed to pay dividends until all Deferred Amounts have been repaid in full. Additionally, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.<span></span>
</td>
</tr>
<tr class="ro">
<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, 2016 and June 30, 2017, 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>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCovenantCompliance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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=75038535&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 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_LineOfCreditFacilityCovenantTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the conditions for borrowing under the credit facility including the nature of any restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityCovenantTerms</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityDividendRestrictions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of restrictions on the entity's ability to pay dividends as required by the terms of the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityDividendRestrictions</td>
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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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
</tr>
</table></div>
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</div>
</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6780687872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred and Common Shares and Additional Paid-in Capital (Details) - February 2017 Private Placement<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
</tr>
<tr><th class="th">
<div>Feb. 02, 2017 </div>
<div>USD ($) </div>
<div>$ / 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_ClassOfStockLineItems', window );"><strong>Class of Stock [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_StockIssuedDuringPeriodSharesNewIssues', window );">Common shares offered in private placement</a></td>
<td class="nump">6,310,272<span></span>
</td>
</tr>
<tr class="re">
<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 );">Price per share | $ / shares</a></td>
<td class="nump">$ 8.154<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement', window );">Proceeds from issuance of private placement, net of offering expenses | $</a></td>
<td class="nump">$ 50,554<span></span>
</td>
</tr>
<tr class="rh">
<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_OaktreeAndItsAffiliatesMember', window );">Oaktree and its affiliates</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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Common shares offered in private placement</a></td>
<td class="nump">3,244,292<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_ClassOfStockLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfStockLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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_ProceedsFromIssuanceOfPrivatePlacement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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=84159872&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_SubsidiarySaleOfStockAxis=us-gaap_PrivatePlacementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=us-gaap_PrivatePlacementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_OaktreeAndItsAffiliatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( 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_OaktreeAndItsAffiliatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934097168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Counterparty [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">$ 3,689,000<span></span>
</td>
<td class="nump">$ 3,911,000<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_CounterpartyNameAxis=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_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Counterparty [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">$ 3,689,000<span></span>
</td>
<td class="nump">$ 3,911,000<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_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-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_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_CounterpartyNameAxis=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_CounterpartyNameAxis=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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934136816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational gain (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, 2017</div></th>
<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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_OtherIncome', window );">Other operational gain</a></td>
<td class="nump">$ 2,461<span></span>
</td>
<td class="nump">$ 50<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossRelatedToLitigationSettlement', window );">Gain / (Loss) related to settlement of a commercial dispute</a></td>
<td class="nump">$ 2,141<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_GainContingenciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainContingenciesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossRelatedToLitigationSettlement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement 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 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossRelatedToLitigationSettlement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_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>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779883248">
<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, 2017</div></th>
<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_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">$ (26,229)<span></span>
</td>
<td class="num">$ (81,696)<span></span>
</td>
</tr>
<tr class="re">
<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">62,188,645<span></span>
</td>
<td class="nump">43,880,713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic earnings / (loss) per share</a></td>
<td class="num">$ (0.42)<span></span>
</td>
<td class="num">$ (1.86)<span></span>
</td>
</tr>
<tr class="ro">
<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">62,188,645<span></span>
</td>
<td class="nump">43,880,713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted earnings / (loss) per share</a></td>
<td class="num">$ (0.42)<span></span>
</td>
<td class="num">$ (1.86)<span></span>
</td>
</tr>
<tr class="ro">
<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">1,024,000<span></span>
</td>
<td class="nump">690,000<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_AwardTypeAxis=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>
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<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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
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<td>xbrli:sharesItemType</td>
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<td>na</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_EarningsPerShareBasic">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=96948231&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=96947427&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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<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 );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<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=96947427&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>
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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_EarningsPerShareDilutedAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&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 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 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: 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 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(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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=96947427&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=96947427&amp;loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_AwardTypeAxis=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_AwardTypeAxis=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>
</table></div>
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<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6780764432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Summary of non-vested share options (Table) (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward', window );"><strong>Number of options</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Outstanding at beginning of period</a></td>
<td class="nump">104,250<span></span>
</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</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Vested</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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Outstanding at end of period</a></td>
<td class="nump">104,250<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 beginning of period</a></td>
<td class="nump">$ 27.5<span></span>
</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>
<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>
<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 at end of period</a></td>
<td class="nump">27.5<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 beginning of period</a></td>
<td class="nump">7.0605<span></span>
</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>
<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>
<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 at end of period</a></td>
<td class="nump">$ 7.0605<span></span>
</td>
<td class="nump">$ 7.0605<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=96867065&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=96867065&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>61
<FILENAME>R53.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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934149440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Summary of non-vested restricted shares (Table) (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<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_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">385,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="nump">944,000<span></span>
</td>
<td class="nump">690,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Cancelled</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,685)<span></span>
</td>
</tr>
<tr class="re">
<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">(305,000)<span></span>
</td>
<td class="num">(133,545)<span></span>
</td>
</tr>
<tr class="ro">
<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">1,024,000<span></span>
</td>
<td class="nump">690,000<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_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">$ 4.82<span></span>
</td>
<td class="nump">$ 17.75<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted</a></td>
<td class="nump">9.59<span></span>
</td>
<td class="nump">3.75<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="text">&#160;<span></span>
</td>
<td class="nump">17.75<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested</a></td>
<td class="nump">4.94<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Unvested at end of period</a></td>
<td class="nump">$ 9.18<span></span>
</td>
<td class="nump">$ 3.75<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=96867065&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=96867065&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=96867065&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=96867065&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=96867065&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=96867065&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=96867065&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=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779441616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">8 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>Feb. 22, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Aug. 22, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">944,000<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">305,000<span></span>
</td>
<td class="nump">133,545<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="ro">
<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 );">Number of unvested shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,024,000<span></span>
</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="nump">385,000<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_ShareBasedCompensation', window );">Share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,360<span></span>
</td>
<td class="nump">$ 2,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">3,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">$ 410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">6 months 22 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted average remaining term for non-vested share option awards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years 9 months 14 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<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_EquityIncentivePlan2017Member', window );">2017 Equity Incentive Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">950,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Number of shares granted</a></td>
<td class="nump">944,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">744,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of unvested shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 22,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">737,725<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=96867065&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>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=96867065&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_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>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=96867065&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_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=98514028&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=96867065&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_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=96867065&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_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=96867065&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_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=96867065&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_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=84159872&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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<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 );">- 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_EquityIncentivePlan2017Member</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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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6795573824">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies - Lease commitments (Table) (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent', window );">2018</a></td>
<td class="nump">$ 30,891<span></span>
</td>
</tr>
<tr class="re">
<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 );">2019</a></td>
<td class="num">(4,681)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInThirdYear', window );">2020</a></td>
<td class="num">(4,646)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2021</a></td>
<td class="num">(4,609)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2022</a></td>
<td class="num">(4,570)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2023 and thereafter</a></td>
<td class="num">(36,359)<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">(23,974)<span></span>
</td>
</tr>
<tr class="rh">
<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 );">2018</a></td>
<td class="nump">32,960<span></span>
</td>
</tr>
<tr class="ro">
<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 );">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_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears', 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_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears', 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_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears', window );">2022</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 );">2023 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">32,960<span></span>
</td>
</tr>
<tr class="rh">
<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 );">2018</a></td>
<td class="num">(552)<span></span>
</td>
</tr>
<tr class="re">
<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 );">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_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', 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_OperatingLeasesFutureMinimumPaymentsDueInFourYears', 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_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2022</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 );">2023 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">(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_OtherCommitmentsAxis=sblk_BareboatCommitmentsCharterHireMember', window );">Bareboat commitments charter hire (3)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">2018</a></td>
<td class="num">(1,517)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2019</a></td>
<td class="num">(4,681)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2020</a></td>
<td class="num">(4,646)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2021</a></td>
<td class="num">(4,609)<span></span>
</td>
</tr>
<tr class="re">
<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 );">2022</a></td>
<td class="num">(4,570)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2023 and thereafter</a></td>
<td class="num">(36,359)<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">$ (56,382)<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=84164817&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>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</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_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=82846649&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=77902758&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=82846649&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=77902758&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=77902758&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=82846649&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=77902758&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=82846649&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=77902758&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=82846649&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=82846649&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=77902758&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=82846649&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=77902758&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=84164653&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=84164653&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=84164653&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=84164653&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=84164653&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=84164653&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=84164653&amp;loc=d3e41551-112718<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNonCancellableCharterRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNonCancellableCharterRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><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>64
<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;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6781983456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contigencies (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2017</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>
</tr>
<tr class="ro">
<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 1.45%<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_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reference rate for the variable rate of the lessee's capital lease, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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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_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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6795995568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Interest rate swaps (Table) (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 451,088<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap1Member', window );">Interest Rate Swap 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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Goldman Sachs<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Oct.  01,  2014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Expiry</a></td>
<td class="text">Apr.  01,  2018<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1.7925%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 98,099<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap2Member', window );">Interest Rate Swap 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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [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_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Goldman Sachs<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Oct.  01,  2014<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Expiry</a></td>
<td class="text">Apr.  01,  2018<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">1.8075%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 98,099<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap3Member', window );">Interest Rate Swap 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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Goldman Sachs<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Oct.  01,  2014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Expiry</a></td>
<td class="text">Apr.  01,  2018<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">2.0675%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 39,240<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap4Member', window );">Interest Rate Swap 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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [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_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Goldman Sachs<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Oct.  01,  2014<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Expiry</a></td>
<td class="text">Apr.  01,  2018<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">1.845%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 98,099<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap5Member', window );">Interest Rate Swap 5</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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Goldman Sachs<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Oct.  01,  2014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Expiry</a></td>
<td class="text">Apr.  01,  2018<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1.8025%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 58,860<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap6Member', window );">Interest Rate Swap 6</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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [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_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">HSH - Star Challenger<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Sep. 30,  2014<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Expiry</a></td>
<td class="text">Sep. 28,  2018<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">1.765%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 6,719<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap7Member', window );">Interest Rate Swap 7</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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">HSH - Star Fighter<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Sep. 30,  2014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Expiry</a></td>
<td class="text">Sep. 28,  2018<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1.765%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 6,854<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap8Member', window );">Interest Rate Swap 8</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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [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_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Credit Agricole - Star Borealis<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Nov. 10,  2014<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Expiry</a></td>
<td class="text">Aug.  09,  2018<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">1.72%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 21,986<span></span>
</td>
</tr>
<tr class="rh">
<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_InterestRateSwap9Member', window );">Interest Rate Swap 9</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_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeCounterparty', window );">Counterparty</a></td>
<td class="text">Credit Agricole - Star Polaris<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInceptionDates', window );">Inception</a></td>
<td class="text">Aug. 11,  2014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Expiry</a></td>
<td class="text">Nov.  09,  2018<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1.705%<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_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
<td class="nump">$ 23,132<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identification of the name or type of counterparty to the derivative 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 SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column A<br> -Footnote 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">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute 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 SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column B<br></p></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>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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the entity entered into the derivative contract, 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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></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">
<tr>
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</head>
<body>
<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934154624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Unaudited Condensed Consolidated Statement of Operations (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2017</div></th>
<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_DerivativeGainLossOnDerivativeNetAbstract', window );"><strong>Gain/(loss) on derivative financial instruments, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments', window );">Unrealized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</a></td>
<td class="nump">$ 1,642<span></span>
</td>
<td class="num">$ (1,930)<span></span>
</td>
</tr>
<tr class="re">
<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 Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</a></td>
<td class="num">(1,542)<span></span>
</td>
<td class="num">(2,709)<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">0<span></span>
</td>
<td class="num">(42)<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_GainLossOnDerivativeInstrumentsNetPretax', window );">Total Gain/(loss) on derivative financial instruments, net</a></td>
<td class="nump">100<span></span>
</td>
<td class="num">(4,681)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpenseAbstract', window );"><strong>Interest and finance costs</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">(473)<span></span>
</td>
<td class="num">(667)<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_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings', window );">Total Gain/(loss) recognized</a></td>
<td class="num">(473)<span></span>
</td>
<td class="num">(667)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNetAbstract', window );"><strong>Gain/(loss) on forward freight agreements</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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet', window );">Total Gain/(loss) recognized</a></td>
<td class="num">(541)<span></span>
</td>
<td class="nump">283<span></span>
</td>
</tr>
<tr class="rh">
<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_ForwardFreightAgreementsMember', window );">Forward freight agreements</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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNetAbstract', window );"><strong>Gain/(loss) on forward freight agreements</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_RealizedGainLossOnForwardFreightAgreements', window );">Realized gain/(loss) on forward freight agreements</a></td>
<td class="num">(500)<span></span>
</td>
<td class="nump">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_UnrealizedGainLossOnForwardFreightAgreements', window );">Unrealized gain/(loss) on forward freight agreements</a></td>
<td class="num">(41)<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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet', window );">Total Gain/(loss) recognized</a></td>
<td class="num">$ (541)<span></span>
</td>
<td class="nump">$ 283<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate net effect in earnings due to derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_InterestRateDerivativeGainLossRealizedInEarningsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) included in earnings for the period from the settlement of interest rate derivatives not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_InterestRateDerivativeGainLossRealizedInEarningsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_RealizedGainLossOnForwardFreightAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The realized gain / (loss) of forward freight agreements, 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>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_RealizedGainLossOnForwardFreightAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_UnrealizedGainLossOnForwardFreightAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value, of forward freight agreements, 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>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_UnrealizedGainLossOnForwardFreightAgreements</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_DerivativeGainLossOnDerivativeNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DerivativeGainLossOnDerivativeNetAbstract</td>
</tr>
<tr>
<td style="padding-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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying 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 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDerivativeInstrumentsNetPretax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net gain (loss) reclassified into earnings in the period when cash flow hedge is discontinued because it is probable that the original forecasted transactions will not occur by the end of the original period or an additional two month time period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80748-113994<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) included in earnings for the period from the increase (decrease) in fair value of interest rate derivatives not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&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=84234895&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpenseAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpenseAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</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=84234895&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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6934332512">
<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) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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_DerivativeAssetsCurrent', window );">Forward freight agreements - asset position</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 41<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) | 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_DerivativeAssetsCurrent', window );">Forward freight agreements - 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_DerivativeAssets', 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 custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue', window );">Forward freight agreements - liability position</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest rate swaps - liability position</a></td>
<td class="nump">241<span></span>
</td>
<td class="nump">437<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">241<span></span>
</td>
<td class="nump">437<span></span>
</td>
</tr>
<tr class="rh">
<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 );">Significant Other Observable Inputs (Level 2) | 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_DerivativeAssetsCurrent', window );">Forward freight agreements - asset position</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">41<span></span>
</td>
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<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="re">
<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 custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue', window );">Forward freight agreements - liability position</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_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest rate swaps - liability position</a></td>
<td class="nump">1,963<span></span>
</td>
<td class="nump">2,908<span></span>
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</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">$ 1,963<span></span>
</td>
<td class="nump">$ 2,908<span></span>
</td>
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<div style="display: none;">
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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 forward freight agreements 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>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ForwardFreightAgreementsDerivativeLiabilitiesAtFairValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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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_AssetsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- 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. 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 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<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=77997519&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 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<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=77997519&amp;loc=d3e13495-108611<br><br>Reference 6: 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=82849420&amp;loc=SL20226008-175313<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- 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 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 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13495-108611<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 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 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 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&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_DerivativeAssetsCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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=82849420&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=77997519&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=77997519&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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<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_InterestRateDerivativeLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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=77997519&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_InterestRateDerivativeLiabilitiesAtFairValue</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>
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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_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LiabilitiesAbstract</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><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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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>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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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_HedgingDesignationAxis=us-gaap_NondesignatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.7.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779879984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Additional Information (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2016 </div>
<div>USD ($)</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_DerivativeLineItems', window );"><strong>Derivative</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_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred', window );">Amount expected to be reclassified into earnings</a></td>
<td class="num">$ (125)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr 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>
</tr>
<tr class="ro">
<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 );">Impairrment loss</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 6,694<span></span>
</td>
</tr>
<tr class="rh">
<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 49,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember', window );">8.00% 2019 Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</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_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SBLKL<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMicheleMember', window );">Star Michele</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</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_AssetImpairmentCharges', window );">Impairrment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,626<span></span>
</td>
</tr>
<tr class="rh">
<td class="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_DerivativeLineItems', window );"><strong>Derivative</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 );">Impairrment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,068<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContractsTerminated', window );">Number of newbuilding contracts terminated</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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>
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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>
</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=98514028&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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred</td>
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<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">7 Months Ended</th>
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<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Jul. 24, 2017</div></th>
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<td class="text">a) Loan developments
-   In July 2017, the Company refinanced the Heron Vessels Facility through Tranche B of the ABN AMRO Bank N.V. $30,844 Facility (Note 8).
-   In July 2017, the Company finalized the Restructuring through the execution of all corresponding Supplemental Agreements.<span></span>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
