UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. )*

                         STAR MARITIME ACQUISITION CORP.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                    Common Stock, Par Value $0.0001 Per Share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    85516E107
                                    ---------
                                 (CUSIP Number)

                                October 31, 2007
                                ----------------
                      (Date of Event which Requires Filing
                               of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  [ ]      Rule 13d-1(b)
                  [X]      Rule 13d-1(c)
                  [ ]      Rule 13d-1(d)



  *The remainder of this cover page shall be filled out for a reporting person's
  initial filing on this form with respect to the subject class of securities,
  and for any subsequent amendment containing information which would alter the
  disclosures provided in a prior cover page.

  The information required on the remainder of this cover page shall not be
  deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
  Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
  the Act but shall be subject to all other provisions of the Act (however, see
  the Notes).







----------------------------                                 -------------------
CUSIP No. 85516E107                      13G                 Page 2 of 8 Pages
----------------------------                                 -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                   (a) [ ]
                                                                   (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          1,457,413 (see Item 4)
BY EACH REPORTING    ------ ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                     ------ ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.0% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 2 of 8



----------------------------                                 -------------------
CUSIP No. 85516E107                      13G                 Page 3 of 8 Pages
----------------------------                                 -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Associates, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                   (a) [ ]
                                                                   (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          1,457,413 (see Item 4)
BY EACH REPORTING    ------ ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                     ------ ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.0% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 3 of 8



----------------------------                                 -------------------
CUSIP No. 85516E107                      13G                 Page 4 of 8 Pages
----------------------------                                 -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                   (a) [ ]
                                                                   (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-------------------- ------ ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          1,457,413 (see Item 4)
BY EACH REPORTING    ------ ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                     ------ ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,457,413 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.0% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 4 of 8




Item 1(a)           Name of Issuer:
                    --------------

                    Star Maritime Acquisition Corp.

Item 1(b)           Address of Issuer's Principal Executive Offices:
                    -----------------------------------------------

                    103 Foulk Road, Wilmington, Delaware 19803

Items 2(a)          Name of Person Filing:
                    ---------------------

                    This statement is filed by: (i) Sigma Capital Management,
                    LLC ("Sigma Management") with respect to shares of common
                    stock, par value $0.0001 per share ("Shares"), of the Issuer
                    beneficially owned by Sigma Capital Associates, LLC ("Sigma
                    Capital Associates"); (ii) Sigma Capital Associates with
                    respect to Shares beneficially owned by it; and (iii) Steven
                    A. Cohen with respect to Shares beneficially owned by Sigma
                    Management and Sigma Capital Associates.

                    Sigma Management, Sigma Capital Associates and Steven A.
                    Cohen have entered into a Joint Filing Agreement, a copy of
                    which is filed with this Schedule 13G as Exhibit 99.1,
                    pursuant to which they have agreed to file this Schedule 13G
                    jointly in accordance with the provisions of Rule 13d-1(k)
                    of the Securities Exchange Act of 1934, as amended.

Item 2(b)           Address of Principal Business Office:
                    ------------------------------------

                    The address of the principal business office of (i) Mr.
                    Cohen is 72 Cummings Point Road, Stamford, Connecticut
                    06902, (ii) Sigma Management is 540 Madison Avenue, New
                    York, New York 10022 and (iii) Sigma Capital Associates is
                    P.O. Box 58, Victoria House, The Valley, Anguilla, British
                    West Indies.

Item 2(c)           Citizenship:
                    -----------

                    Sigma Management is a Delaware limited liability company.
                    Sigma Capital Associates is an Anguillan limited liability
                    company. Mr. Cohen is a United States citizen.

Item 2(d)           Title of Class of Securities:
                    ----------------------------

                    Common Stock, par value $0.0001 per share.

                                  Page 5 of 8


Item 2(e)           CUSIP Number:
                    ------------

                    85516E107

Item 3              Not Applicable

Item 4              Ownership:
                    ---------

                    The percentages used herein are calculated based upon the
                    Shares issued and outstanding as of November 5, 2007 as
                    reported on the Issuer's quarterly report on Form 10-Q filed
                    with the Securities and Exchange Commission by the Issuer
                    for the quarterly period ended September 30, 2007.

                    As of the close of business on October 31, 2007:

                    1. Sigma Capital Management, LLC
                    (a)    Amount beneficially owned: 1,457,413
                    (b)    Percent of class: 5.0%
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii)   Shared power to vote or direct the vote: 1,457,413
                    (iii)  Sole power to dispose or direct the disposition: -0-
                    (iv)   Shared power to dispose or direct the disposition:
                           1,457,413

                    2. Sigma Capital Associates, LLC
                    (a)    Amount beneficially owned: 1,457,413
                    (b)    Percent of class: 5.0%
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii)   Shared power to vote or direct the vote: 1,457,413
                    (iii)  Sole power to dispose or direct the disposition: -0-
                    (iv)   Shared power to dispose or direct the disposition:
                           1,457,413

                    3. Steven A. Cohen
                    (a)    Amount beneficially owned: 1,457,413
                    (b)    Percent of class: 5.0%
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii)   Shared power to vote or direct the vote: 1,457,413
                    (iii)  Sole power to dispose or direct the disposition: -0-
                    (iv)   Shared power to dispose or direct the disposition:
                           1,457,413

                    Pursuant to an investment management agreement, Sigma
                    Management maintains investment and voting power with
                    respect to the securities held by Sigma Capital Associates.
                    Mr. Cohen controls Sigma

                                  Page 6 of 8


                    Management. By reason of the provisions of Rule 13d-3 of the
                    Securities Exchange Act of 1934, as amended, Sigma
                    Management and Mr. Cohen may be deemed to own beneficially
                    1,457,413 shares (constituting approximately 5.0% of the
                    Shares outstanding). Each of Sigma Management and Mr. Cohen
                    disclaim beneficial ownership of any of the securities
                    covered by this statement.

Item 5              Ownership of Five Percent or Less of a Class:
                    --------------------------------------------

                    If this statement is being filed to report the fact that as
                    of the date hereof the reporting person has ceased to be the
                    beneficial owner of more than five percent of the class of
                    securities, check the following.   [ ]

Item 6              Ownership of More than Five Percent on Behalf of
                    ------------------------------------------------
                    Another Person:
                    --------------

                    Not Applicable

Item 7              Identification and Classification of the
                    ----------------------------------------
                    Subsidiary Which Acquired the Security Being
                    --------------------------------------------
                    Reported on By the Parent Holding Company:
                    ------------------------------------------

                    Not Applicable

Item 8              Identification and Classification of Members
                    --------------------------------------------
                    of the Group:
                    ------------

                    Not Applicable

Item 9              Notice of Dissolution of Group:
                    ------------------------------

                    Not Applicable

Item 10             Certification:
                    -------------

     By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.

                                  Page 7 of 8




                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated: November 13, 2007


SIGMA CAPITAL MANAGEMENT, LLC


By:   /s/ Peter Nussbaum
      -------------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


SIGMA CAPITAL ASSOCIATES, LLC


By:  /s/ Peter Nussbaum
     -------------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


STEVEN A. COHEN


By:  /s/ Peter Nussbaum
     -------------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


                                  Page 8 of 8