Eagle Bulk Shipping Inc. Successfully Completes Greenship Bulk Fleet Acquisition with Delivery of Ninth Ultramax Vessel
September 05 2017 - 7:00AM
Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) (the “Company”), one of the
world’s largest owner-operators in the Supramax/Ultramax segment,
today announced that it has taken delivery of the M/V Westport
Eagle, the ninth and final Crown-63 Ultramax dry bulk vessel the
Company acquired from Greenship Bulk Trust.
Gary Vogel, Eagle Bulk's CEO, commented, "The
successful conclusion of the nine-vessel fleet acquisition from
Greenship Bulk provides clear and unambiguous benefits for Eagle,
chief among them a significantly expanded commercial footprint and
a more modern and efficient fleet. These positive
developments, in conjunction with the successful buildout of our
active management model, should help ensure we generate both higher
time charter equivalent (“TCE”) earnings and incremental
shareholder value.”
With the addition of the M/V Westport Eagle, the
Eagle Bulk fleet currently consists of 48 vessels on the water,
comprised exclusively of Supramax/Ultramax vessels.
About Eagle Bulk ShippingEagle
Bulk Shipping Inc. is a Marshall Islands corporation headquartered
in Stamford, Connecticut. Eagle Bulk owns one of the largest fleets
of Supramax/Ultramax dry bulk vessels in the world.
Supramax/Ultramax vessels, which are constructed with on-board
cranes, range in size from approximately 50,000 to 65,000 dwt. The
Company transports a broad range of major and minor bulk cargoes,
including but not limited to coal, grain, ore, pet coke, cement and
fertilizer, along worldwide shipping routes.
Forward-Looking
StatementsMatters discussed in this release may constitute
forward-looking statements. Forward-looking statements reflect
management's current expectations and observations with respect to
future events and financial performance. Where the Company
expresses an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. However, the Company's forward-looking
statements are subject to risks, uncertainties, and other factors,
which could cause actual results to differ materially from future
results expressed, projected, or implied by those forward-looking
statements. The Company's actual results may differ
materially from those anticipated in these forward-looking
statements as a result of certain factors, including changes in the
Company’s financial resources and operational capabilities and as a
result of certain other factors listed from time to time in the
Company's filings with the U.S. Securities and Exchange
Commission. The Company disclaims any intent or obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required under applicable securities laws.
Company Contact
Frank De Costanzo
Chief Financial Officer
Eagle Bulk Shipping Inc.
Tel. +1 203-276-8100
Email: investor@eagleships.com
Media Contact
Jonathan Morgan or Alex Hinson
Perry Street Communications
212-741-0014
eagle@perryst.com
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