Edgar Filing: Star Bulk Carriers Corp.

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

RAMIUS CAPITAL GROUP LLC

2. Issuer Name and Ticker or Trading Symbol
Star Bulk Carriers Corp. [SBLK]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

666 THIRD AVENUE, 26TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
01/17/2008

(Street)

NEW YORK, NY 10017

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.01 par value	01/17/2008		S		5,000	D	$ 9.6594	2,880,580	I	See Footnotes ⁽¹⁾ ⁽²⁾ ⁽³⁾ ⁽⁴⁾
Common Stock, $.01 par value	02/01/2008		S		10,000	D	$ 11.4212	2,870,580	I	See Footnotes ⁽¹⁾ ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrants (right to buy)

$ 8

02/01/2008

10,000

11/30/2007

12/16/2009

Common Stock, $.01 par value

10,000

$ 3.5

2,223,400

See Footnotes ⁽⁵⁾ ⁽⁶⁾ ⁽⁷⁾ ⁽⁸⁾ ⁽⁹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
RAMIUS CAPITAL GROUP LLC 666 THIRD AVENUE 26TH FLOOR NEW YORK, NY 10017		X
COHEN PETER A C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK, NY 10017		X		See Explanation of Responses
STARK MORGAN B C/O RAMIUS CAPITAL GROUP, L.L.C. 666THIRD AVENUE, 26TH FLOOR NEW YORK, NY 10017		X		See Explanation of Responses
STRAUSS THOMAS W C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK, NY 10017		X		See Explanation of Responses
SOLOMON JEFFREY M C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26 FLOOR NEW YORK, NY 10017		X		See Explanation of Responses
C4S & CO LLC C/O RAMIUS CAPITAL GROUP, L.L.C. 666 THIRD AVENUE, 26TH FLOOR NEW YORK, NY 10017		X		See Explanation of Responses

Signatures

By: Ramius Capital Group, L.L.C.; By /s/ Owen S. Littman, Authorized Signatory		02/06/2008
^**Signature of Reporting Person		Date
By: /s/ Owen S. Littman, as Attorney in Fact for Peter A. Cohen		02/06/2008
^**Signature of Reporting Person		Date
By: /s/ Owen S. Littman, as Attorney in Fact for Morgan B. Stark		02/06/2008
^**Signature of Reporting Person		Date
By: /s/ Owen S. Littman, as Attorney in Fact for Thomas W. Strauss		02/06/2008
^**Signature of Reporting Person		Date
By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon		02/06/2008
^**Signature of Reporting Person		Date
By: C4S & Co., L.L.C., By: /s/ Owen S. Littman, as Attorney in Fact for Jeffrey M. Solomon, as Managing Member		02/06/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	RCG Carpathia Master Fund, Ltd (Carpathia), RCG Crimson, LP (Crimson), RCG Baldwin, L.P. (Baldwin), and Ramius Secutities, L.L.C. (Ramius Securities) beneficially own 1,727,070, 25,000, 579,865 and 505,865 shares of Common Stock, respectively. As the general partner of Baldwin, Ramius Advisors, LLC (Ramius Advisors) may be deemed to beneficially own the 579,865 shares of Common Stock owned by Baldwin. As the investment advisor of Carpathia, the general partner of Crimson and the sole member of each of Ramius Securities and Ramius Advisors, Ramius Capital Group, L.L.C. (Ramius) may be deemed to beneficially own the 1,727,070, 40,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively.
(2)	(continuation of previous footnote) As the managing member of Ramius, C4S & Co., L.L.C. (C4S) may be deemed to beneficially own the 1,727,070, 25,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively. As the managing members of C4S each of Peter A. Cohen, Morgan B. Stark, Jeffrey M. Solomon and Thomas W. Strauss may be deemed to beneficially own the 1,727,070, 25,000, 579,865 and 505,865 shares of Common Stock owned by Carpathia, Crimson, Baldwin, and Ramius Securities, respectively.
(3)	(continuation of previous footnote) Mr. Cohen beneficially owns 32,780 shares of Common Stock, 12,500 shares of which are owned by him individually and 20,280 shares of which are held in managed accounts over which he has voting and/or dispositive power.
(4)	Each Reporting Person disclaims beneficial ownership of the Common Stock except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of the Common Stock for purposes of Section 16 or for any other purpose.
(5)	Crimson, Baldwin, and Ramius Securities beneficially own 100,000, 425,000 and 1,661,700 warrants convertible into Common Stock at a ratio of one warrant for one share of Common Stock (the Warrants), respectively. As the general partner of Baldwin, Ramius Advisors may be deemed to beneficially own the own the 425,000 Warrants owned by Baldwin. As the investment advisor of Carpathia, the general partner of Crimson and the sole member of each of Ramius Securities and Ramius Advisors, Ramius may be deemed to beneficially own the 110,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively.
(6)	(continuation of previous footnote) As the managing member of Ramius, C4S may be deemed to beneficially own the 100,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively. As the managing members of C4S each of Messrs. Cohen, Stark, Solomon and Strauss may be deemed to beneficially own the 100,000, 425,000 and 1,661,700 Warrants owned by Crimson, Baldwin, and Ramius Securities, respectively.
(7)	(continuation of previous footnote) Mr. Cohen beneficially owns 30,700 Warrants, 10,000 of which are owned by him individually and 20,700 of which are held in managed accounts over which he has voting and/or dispositive power.
(8)	(continuation of previous footnote) Mr. Solomon beneficially owns 6,000 Warrants, 1,000 of which are owned by him individually and 5,000 of which are held in managed accounts over which he has voting and/or dispositive power.
(9)	Each Reporting Person disclaims beneficial ownership of the Warrants except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of the Warrants for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

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