Eagle Bulk Shipping Inc. takes Delivery of Ninth Dry Bulk Vessel – M/V Westport Eagle

Image Courtesy: eagleships.com

Connecticut-based Eagle Bulk Shipping Inc. took delivery of its ninth and final Crown-63 Ultramax dry bulk vessel that it acquired from Greenship Bulk Trust. This succefussly completes the deal worth USD 153 million that was signed earlier this year.

Eagle Bulk Shipping Inc. is one of the world’s largest owner-operators in the Supramax/Ultramax segment. 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.

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.”