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FORM
6-K
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
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For
the month of June 2009
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Commission
File Number: 001-33869
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Star
Bulk Carriers Corp.
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(Translation
of registrant's name into English)
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7,
Fragoklisias Street, 2nd floor, Maroussi 151 25, Athens,
Greece
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(Address
of principal executive office)
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Indicate
by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
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Form
20-F
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[X]
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Form
40-F
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[_]
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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): ___
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Note:
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.
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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: ___
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Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the
laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant's "home country"), or under
the rules of the home country exchange on which the registrant's
securities are traded, as long as the report or other document is not a
press release, is not required to be and has not been distributed to the
registrant's security holders, and, if discussing a material event, has
already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
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INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
hereto as Exhibit 1 is a copy of the press release of Star Bulk Carriers Corp.
(the "Company"), dated June 25, 2009, announcing a cash dividend of $0.05 per
outstanding share of the Company's common stock for the three months ending June
30, 2008.
This
report on Form 6-K, except for the section entitled "Akis Tsirigakis, President and CEO of Star Bulk
commented," is hereby incorporated by reference into the Company's
registration statement on Form F-3 (File No. 333-153304) that was filed with the
U.S. Securities and Exchange Commission ("Commission") with an effective date of
November 3, 2008, and the Company's registration statement on Form F-3 (File No.
333-156843) that was filed with the Commission with an effective date of
February 17, 2009.
Exhibit
1
STAR BULK CARRIERS CORP. DECLARES DIVIDEND OF $0.05 PER
SHARE
FOR THE QUARTER ENDING JUNE 30,
2009
Athens,
Greece, June 25, 2009 – Star
Bulk Carriers Corp. (the "Company'' or "Star Bulk") (NASDAQ: SBLK) today announced that its
Board of Directors declared a cash dividend of $0.05 per outstanding share of
the Company's common stock for the three months ending June 30, 2009. The
dividend is payable on or about July 14, 2009 to shareholders of record as of
July 7, 2009. The Company received written consent from each of its lenders for
the declaration and payment of this dividend in respect of the second quarter of
2009.
Under
the terms of the Company's waiver agreements with its lenders, in effect up to
February 2010, any payment of dividends during the applicable waiver period is
subject to the lenders' prior written consent. The Company will be required to
obtain further consent of its lenders in order to pay dividends in respect of
the quarters ending September 30 and December 31, 2009.
Akis Tsirigakis, President and CEO of
Star Bulk, commented: "We are pleased to be able to implement our
long-standing principle of rewarding our investors through the distribution of
dividends. We are also pleased to have our lenders' vote of confidence,
evidenced by their consent to the distribution of dividend. Currently, our fleet
is contracted for 100% of 2009, 71% of 2010 and 42% of 2011, which provides
long-term earnings visibility. We continue to focus on enhancing shareholder
value supported by our strong balance sheet and liquidity."
About Star Bulk
Star
Bulk is a global shipping company providing worldwide seaborne transportation
solutions in the dry bulk sector. Star Bulk's vessels transport major bulks,
which include iron ore, coal and grain and minor bulks such as bauxite,
fertilizers and steel products. Star Bulk was incorporated in the Marshall
Islands on December 13, 2006 and is headquartered in Athens, Greece. Its common
stock and warrants trade on the Nasdaq Global Market under the symbols "SBLK"
and "SBLKW" respectively. Currently, Star Bulk has an operating fleet of twelve
dry bulk carriers. The total fleet consists of four Capesize, and
eight Supramax dry bulk vessels with an average age of approximately 10.1 years
and a combined cargo carrying capacity of 1,106,253 deadweight
tons.
Forward-Looking
Statements
The
information in this press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to, statements
regarding: (1) the delivery and operation of assets of Star Bulk; (2) Star
Bulk's future operating or financial results; (3) future, pending or recent
acquisitions, business strategy, areas of possible expansion, and expected
capital spending or operating expenses; (4) drybulk market trends, including
charter rates and factors affecting vessel supply and demand; and (5) other
statements identified by words such as "anticipate," "believe," "plan,"
"estimate," "expect," "intend," "should," "may," or words of similar
meaning.
Such
forward-looking statements are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without limitation, Star
Bulk's examination of historical operating trends, data contained in their
records and other data available from third parties. Although Star Bulk believes
that these assumptions were reasonable when made, because these assumptions are
inherently subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are
beyond
its control, Star Bulk cannot assure you that Star Bulk will achieve or
accomplish these expectations, beliefs or projections. Important factors that
could cause actual results to differ materially from those discussed in the
forward-looking statements include the failure of a seller to deliver one or
more vessels, the strength of world economies and currencies, general market
conditions, including changes in charterhire rates and vessel values, changes in
demand that may affect attitudes of time charterers to scheduled and unscheduled
drydocking, changes in Star Bulk's operating expenses, including bunker prices,
dry-docking and insurance costs, or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists. Additional factors that
could cause Star Bulk's results to differ materially from those described in the
forward-looking statements can be found in Star Bulk's Registration Statement on
Form F-1/F-4, Annual Reports on Forms 20-F for the years ended December 31, 2007
and 2008, in Registration Statement on Form F-3 filled in September 2008 and its
amendments, in Registration Statement on Form F-3 filled in January 2009 and its
amendments, and reports on Form 6-K filed with the Securities and Exchange
Commission (the "SEC") and available at the SEC's Internet site
(http://www.sec.gov). The information set forth herein speaks only as of the
date hereof, and Star Bulk disclaims any intention or obligation to update any
forward-looking statements as a result of developments occurring after the date
of this communication.
Contacts:
Company
George
Syllantavos
CFO
Star
Bulk Carriers Corp.
7
Fragoklisias Str.
Maroussi
15125
Athens,
Greece
www.starbulk.com
E-mail:
ir@starbulk.com
Investor
Relations / Financial Media:
Nicolas
Bornozis
President
Capital
Link, Inc.
230
Park Avenue, Suite 1536
New
York, NY 10169
Tel.
(212) 661-7566
E-mail:
starbulk@capitallink.com
www.capitallink.com
SIGNATURES
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.
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Star
Bulk Carriers Corp.
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Dated:
June 29, 2009
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By:
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/s/
Prokopios Tsirigakis
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Name:
Prokopios Tsirigakis
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Title:
Chief Executive Officer and President
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SK
25767 0001 1009024