Star Bulk announced it has reassigned a lease for a newbuilding vessel back to the vessel owner for a one-time payment of $5.8 million. The reassignment of the lease will result in an additional reduction in vessel lease payments of $5.8 million during the first half of 2016.

A company announcement reads:

Star Bulk (NASDAQ: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced that its Annual Meeting of Shareholders was duly held on October 9, 2015 in Cyprus pursuant to a Notice of Annual Meeting of Shareholders dated September 17, 2015 (“the Notice”).

At the meeting, each of the following proposals, which are set forth in more detail in the Notice and the Company’s Proxy statement, were approved and adopted:

1. The re-election of Ms. Jennifer Box and Messrs. Koert Erhardt and Roger Schmitz as Class B Directors of the Company to serve until the 2018 Annual Meeting of Shareholders; and

2. The appointment of Ernst & Young (Hellas) Certified Auditors-Accountants S.A., as the Company’s independent auditors for the fiscal year ending December 31, 2015

Star Bulk announced that on October 9, 2015 it took delivery of M/V Star Antares (ex HN NE 196), a 61,258 dwt Ultramax bulk carrier built by Nantong COSCO KHI‐Ship Engineering Co. (“NACKS”).

On October 10, 2015, we reassigned a lease for a newbuilding vessel back to the vessel owner for a one-time payment to us of $5.8 million. The reassignment of the lease will result in an additional reduction in vessel lease payments of $5.8 million during the first half of 2016.

On October 15, 2015, Star Bulk announced the sale of M/V Star Nicole (a 73,751 dwt Panamax vessel, built in 1997, to an unaffiliated third party (the “Buyers”). The Company delivered the Vessel to the Buyers on October 15, 2015.

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