Eagle Bulk Shipping Inc. Takes Delivery of M/V Antwerp Eagle

Rhea-AI Summary

Eagle Bulk Shipping Inc. (NASDAQ: EGLE) announced the delivery of the M/V Antwerp Eagle, a 2015-built Ultramax vessel fitted with a scrubber, acquired in May. Following this acquisition, the company's fleet totals 53 vessels, with an average age of 8.8 years. Eagle is a leading owner-operator in the mid-size drybulk segment, providing global transportation solutions to diverse customers including miners and traders. The company manages all operations in-house, aiming to optimize revenue and maximize earnings through active fleet management.

Positive

• Delivery of the M/V Antwerp Eagle enhances the fleet's capacity and modernity.
• Fleet expansion reflects strategic growth in the Supramax/Ultramax segment.

Negative

• None.

STAMFORD, Conn., Sept. 17, 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 drybulk segment, today announced that it has taken delivery of its previously announced vessel acquisition, the M/V Antwerp Eagle.

The ship, which was acquired this past May, is a 2015-built, high specification scrubber-fitted SDARI-64 Ultramax vessel built at Jiangsu Hantong Ship Heavy Industry Co.

Proforma for the one pending vessel acquisition, the Company’s fleet totals 53 ships with an average age of 8.8 years.

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 mid-size 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.

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 latest update from Eagle Bulk Shipping regarding vessel acquisition?

Eagle Bulk Shipping has successfully taken delivery of the M/V Antwerp Eagle, expanding its fleet to 53 vessels.

When was the M/V Antwerp Eagle acquired?

The M/V Antwerp Eagle was acquired in May 2021.

What is the average age of Eagle Bulk Shipping's fleet after the new acquisition?

After the acquisition, the average age of Eagle Bulk Shipping's fleet is 8.8 years.

What type of vessel is the M/V Antwerp Eagle?

The M/V Antwerp Eagle is a 2015-built, scrubber-fitted SDARI-64 Ultramax vessel.