Eagle Bulk Reveals 19-Vessel Scrubber Initiative

Eagle Bulk Shipping Inc. (NASDAQ: EGLE) announced today that it has entered into a series of agreements for the purchase of up to 37 exhaust gas cleaning systems (i.e., scrubbers) to be retrofitted on vessels within its fleet, becoming the latest shipping company to show its hand as it related 2020 low sulphur fuel compliance. The agreements announced Tuesday are … [Read more...]

Eagle Bulk to Purchase Up to Nine Ultramax Bulk Carriers

Stamford-headquartered Eagle Bulk Shipping Inc. (Nasdaq: EGLE) on Wednesday announced that it has reached a definitive agreement to purchase up to nine Crown-63 Ultramax dry bulk vessels for an aggregate price of $153 million, assuming all 9 ships are transacted. The agreement calls for a minimum purchase of six vessels. The sister vessels, which range in age from 2 to 5 … [Read more...]

Eagle Bulk Shares Soar After Debt Cut By 80 Percent

Oct 16 (Reuters) - Eagle Bulk Shipping Inc's shares shot up to as much as $15.46 from 68 cents as the company cut its borrowings by about 80 percent after converting debt into equity under a financial restructuring program. The stock was the top percentage gainer on the Nasdaq, with more than 14.4 million shares being traded by 11.46 a.m. ET, over 10 times their 10-day daily … [Read more...]

Eagle Bulk Shipping Files For Bankruptcy

By Dawn McCarty Aug. 6 (Bloomberg) -- Eagle Bulk Shipping Inc., an operator of dry-bulk cargo ships, filed for bankruptcy protection after missing a June interest payment, as transport companies continue to face a drop in rates since the financial crisis of 2008. The New York-based company today listed assets of as much as $950 million and debt of $1.2 billion in a … [Read more...]

Eagle Bulk Gets Two More Weeks

Financially distressed dry bulk shipper Eagle Bulk has gained another two weeks to come to an agreement with their lenders to agree on a restructuring agreement after their May 15 deadline passed yesterday without an agreement. Their waiver to execute a new agreement has been extended to 31 May 2014. At the end of 2013, Eagle Bulk was $1,129,478,741 in debt and were in … [Read more...]