Eagle Bulk Shipping Confirms Acquisition of 9 Ultramax Vessels

Vogel-Eagle-Bulk

Eagle Bulk Shipping announced that its proposed acquisition of three contingent vessels from Greenship Bulk has been approved by Greenship Bulk Trust.

As originally announced on February 28, 2017, the Company reached a definitive agreement to purchase a minimum of 6 and up to 9 Crown-63 Ultramax dry bulk sister vessels for an aggregate price of $153M.

Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to have been able to secure this fleet acquisition of 9 quality Ultramax vessels, and look forward to having them join Eagle’s fleet over the coming months.”

Stamford, CT-based Eagle Bulk is naming all 9 vessels after Connecticut coastal towns:

New Eagle Vessel Names

Year
Built

Current Names under
Greenship Ownership

1

M/V WESTPORT EAGLE

2015

JS Potomac

2

M/V FAIRFIELD EAGLE

2013

JS Missouri

3

M/V GREENWICH EAGLE

2013

JS Yukon

4

M/V MADISON EAGLE

2013

JS Yangtse

5

M/V MYSTIC EAGLE

2013

JS Tamise

6

M/V ROWAYTON EAGLE

2013

JS Mekong

7

M/V SOUTHPORT EAGLE

2013

JS Mississippi

8

M/V GROTON EAGLE

2013

JS Narmada

9

M/V STONINGTON EAGLE

2012

JS Garonne

With the addition of these nine vessels, the Eagle Bulk fleet will consist of 50 owned vessels.

As previously announced, Eagle Bulk will report its financial results for the fourth quarter and full year ended December 31, 2016, after the close of stock market trading on Thursday, March 30th. Members of Eagle Bulk’s senior management team will host a teleconference and webcast at 8:30 a.m. ET on Friday, March 31st to discuss the results.

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