Eagle Bulk Shipping Inc. joins Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as Mission Partner

Rhea-AI Summary

Eagle Bulk Shipping (NASDAQ: EGLE) has entered into a Partner Agreement with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, designating Eagle as a Mission Partner. This collaboration focuses on supporting decarbonization efforts in the maritime industry, leveraging Eagle's assets and resources within the midsize drybulk segment. CEO Gary Vogel emphasized the importance of collective action for advancing shipping's energy transition.

Positive

• Signed a Partner Agreement with the Mærsk Mc-Kinney Møller Center, enhancing its commitment to sustainability.
• Eagle's significant resources in the midsize drybulk segment can contribute effectively to the Center's decarbonization projects.

Negative

• None.

STAMFORD, Conn., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (“Eagle Bulk”, “Eagle”, or the “Company”), one of the world’s largest owner-operators within the Supramax/Ultramax dry bulk segment, today announced that the Company has signed a Partner Agreement with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (the “Center”), formalizing Eagle as a Mission Partner to the independent not-for-profit research and development center.

As one of the largest owner-operators within the midsize drybulk segment, Eagle has resources, assets, and capabilities relevant to the Center’s projects. Through this collaboration, Eagle will provide support to the Center’s work and commit to the Center’s mission and vision of building a significant cross-disciplinary driving force in the decarbonization of the maritime industry.

Gary Vogel, CEO at Eagle Bulk Shipping, said: “The need for collaborative engagement across shipping and tangential industries to accelerate shipping’s energy transition has never been more pronounced. As such, we are proud to partner with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and look forward to working together and supporting the Center’s critical work.”

About Eagle Bulk Shipping Inc.

Eagle Bulk Shipping Inc. (“Eagle” or the “Company”) is a US-based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Eagle focuses exclusively on the versatile midsize drybulk vessel segment and owns one of the largest fleets of Supramax / Ultramax vessels in the world. The Company performs all management services in-house (including: strategic, commercial, operational, technical, and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis. For further information, please visit our website: www.eagleships.com.

About Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping is a not-for-profit, independent research and development Center. It works across the shipping sector with industry, academia, and authorities. A highly specialized, cross-disciplinary team will collaborate globally to create an overview of viable decarbonization pathways, facilitate the development and implementation of new energy technologies; build confidence in new concepts and their supply chains; and accelerate the transition by defining and maturing viable strategic pathways to the required systemic change.

The Center is based in Copenhagen but works with partners globally. Strategic Partners to the Center include: Alfa Laval, American Bureau of Shipping, A.P. Moller - Maersk, BP, Cargill, Haldor Topsoe, John Swire & Sons, MAN Energy Solutions, Mitsubishi Heavy Industries, Mitsui & Co., NORDEN, NYK Line, Seaspan, Siemens Energy, Stolt Tankers, Sumitomo Corporation, Total Energies, and V.Group.

For more information go to www.zerocarbonshipping.com.

Company Contact

Frank De Costanzo

Chief Financial Officer

Eagle Bulk Shipping, Inc.

Tel. +1 203-276-8100

Email: investor@eagleships.com

Media Contact

Rose & Company

Tel. +1 212-359-2228

Source: Eagle Bulk Shipping Inc.

FAQ

What is the recent partnership between Eagle Bulk Shipping and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping?

Eagle Bulk Shipping has signed a Partner Agreement with the Mærsk Mc-Kinney Møller Center, becoming a Mission Partner focused on supporting decarbonization in shipping.

How does Eagle Bulk Shipping plan to contribute to the decarbonization of the maritime industry?

Eagle Bulk Shipping will leverage its resources and capabilities in the midsize drybulk segment to support the Center's projects aimed at reducing carbon emissions.

What are the implications of Eagle Bulk Shipping's partnership for its investors?

This partnership could enhance Eagle's reputation and position in the sustainable shipping market, potentially benefiting long-term shareholder value.