Eagle Bulk acquires ultramax pair

Vogel-Eagle-Bulk

Eagle Bulk Shipping has announced the acquisition of two modern scrubber-fitted ultramax bulk carriers.

The company has bought the 2015-built Helsinki Eagle for $16.5m and the 2016-built Stockholm Eagle for $17.65m.

“We have continued to actively renew our fleet this past year, acquiring three modern/efficient scrubber-fitted ultramaxes and divesting five of our vintage supramaxes, with an average age of 18 years. Over the past four years, we have turned over almost half of our fleet, acquiring 23 modern ultramaxes and selling 19 older supramaxes. These transactions have vastly improved our fleet makeup – increasing the average size of our ships, improving our fleet age profile, and reducing our emissions footprint on a per deadweight-ton basis,” said Gary Vogel, CEO of Eagle Bulk.

“We believe that our fleet renewal strategy along with our active management approach to trading will help us maximize our cash generation potential and continue to deliver on our market outperformance,” Vogel added.

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