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Eagle Bulk Shipping Inc. (NASDAQ: EGLE) operates a modern fleet of dry bulk vessels, transporting essential commodities like coal, grain, and iron ore across global trade routes. This news hub provides investors and industry professionals with timely updates on the company's strategic developments and market position.
Access verified press releases, earnings announcements, and operational updates in one centralized location. Our curated collection ensures you stay informed about EGLE's fleet management initiatives, regulatory compliance efforts, and partnerships within the maritime logistics sector.
Key content categories include financial performance reports, vessel acquisitions, sustainability initiatives, and industry trend analyses. All materials are sourced directly from official company communications to maintain accuracy and reliability.
Bookmark this page for convenient access to Eagle Bulk Shipping's latest news. Check back regularly for updates on dry bulk shipping market dynamics and EGLE's role in global commodity transportation networks.
Eagle Bulk Shipping reported a net loss of $11.2 million for Q3 2020, translating to a loss of $1.09 per share, compared to a loss of $4.6 million in Q3 2019. Revenues decreased to $68.2 million from $74.1 million, impacted by lower charter rates amid COVID-19. The company achieved a TCE of $9,620/day, surpassing the Adjusted net BSI of $9,429/day. Significantly, 73% of Q4 available days are fixed at an average TCE of $11,275. The company completed a 1-for-7 reverse stock split on September 15, 2020, and is set to sell two vessels for a total of $10 million in Q4.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) will release its financial results for Q3 2020 on November 5, 2020, post-market close. A teleconference led by senior management will follow on November 6, 2020, at 8:00 a.m. ET, to discuss the results. Interested participants can join by calling +1 844-282-4411 (U.S.) or +1 512-900-2336 (international) with the code 6386439. A replay will be accessible from November 6 to November 16, 2020, via +1 855-859-2056 (U.S.) or +1 404-537-3406 (international), using the same passcode. For more, visit www.eagleships.com.
Eagle Bulk Shipping Inc. (NASDAQ: EGLE) announced a 1-for-7 reverse stock split approved by shareholders on June 19, 2020. Effective September 15, 2020, trading will commence on a split-adjusted basis. This will decrease the number of outstanding shares from approximately 77.1 million to 11.0 million. Shareholders with fractional shares will receive cash equivalent to the closing price prior to the split. Adjustments will also be made to outstanding warrants and options. More information is available in the SEC proxy statement filed on May 12, 2020.
Eagle Bulk Shipping reported financial results for Q2 2020, revealing net revenues of $57.4 million, down from $69.4 million in Q2 2019. The company incurred a net loss of $20.5 million, or $0.28 per share, compared to a $6 million loss in the prior year. The TCE for the quarter was $8,038/day, significantly above the Baltic Supramax Index average of $5,440/day. Despite COVID-19 impacting operations, Eagle fixed 66% of Q3 days at an average TCE of $9,220. Cash and cash equivalents rose to $98.6 million, aided by $73.9 million in net cash provided by financing activities.
Eagle Bulk Shipping (NASDAQ: EGLE) reported the successful resolution of a security incident involving the M/V Jaeger. On July 21, 2020, an armed guard on board deviated the vessel's course, demanding compensation. No crew members were harmed during the incident, which lasted approximately three days. The Company, in collaboration with maritime experts, ensured the safety of the crew and resolved the situation peacefully. Eagle Bulk emphasizes its commitment to crew safety and appreciates the professionalism displayed during this ordeal. No further details will be released due to the sensitive nature of the incident.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) is set to report its second-quarter financial results for the period ending June 30, 2020, after market close on August 6, 2020. Following the release, the senior management team will conduct a teleconference and webcast on August 7, 2020, at 8:00 a.m. ET to discuss the results in detail. Investors can participate by calling specified numbers or accessing the webcast on the company's website. A replay will be available until August 17, 2020. Eagle specializes in mid-size drybulk vessel operations and seeks to optimize revenue performance through active management.
Eagle Bulk Shipping (NASDAQ: EGLE) announced the closing of a USD 22.6 million incremental term loan through its subsidiary, Eagle Bulk Ultraco LLC. The loan is secured by two Ultramax vessels, M/V Hong Kong Eagle and M/V Santos Eagle, and has an interest rate of LIBOR plus 2.50%, maturing in 2024. Proceeds will be utilized for general corporate purposes. The loan was facilitated by existing lenders including ABN AMRO and Credit Agricole.
Eagle Bulk Shipping reported its Q1 2020 financial results, generating $74.4 million in net revenues, a decline from $77.4 million in Q1 2019. The company faced a net loss of $3.5 million, translating to $0.05 per share. TCE revenue stood at $43 million, with a TCE of $10,075 per day. Despite the challenges posed by the COVID-19 pandemic, Eagle managed to outperform the market, achieving a TCE of $8,110 in Q2 thus far. The company completed its scrubber installation program for 82% of its fleet and emphasized its strong operational management and financial position as key growth factors.
