Eagle Bulk Shipping, Inc. (Nasdaq:EGLE) has taken delivery of the Kittiwake, a 2002 built 53,146 dwt Supramax dry
bulk vessel. The Kittiwake was acquired as part of a three vessel transaction announced on February 28, 2007.
The Kittiwake will commence an 11-13 month charter at a rate of $30,400
per day. The charter may reset at the beginning of each month based on
the average time charter rate for the Baltic Supramax Index, but in no
case will be less than $24,400 per day.
The Eagle Bulk Shipping, Inc. fleet consists of 23 vessels, including
20 Supramaxes, five of which are newbuilds, and three Handymax bulk
carriers. The average age of the fleet is approximately five and a half
years.