Eagle Bulk Shipping Inc.
(Nasdaq:EGLE), a global marine transportation company
the Supramax segment of the dry bulk shipping industry, has taken delivery of the Tern, a 2003 built 50,209 dwt Supramax dry bulk vessel. Eagle Bulk has now taken on-schedule delivery of two
of the three vessels that were part of an acquisition agreement
announced on June 23. The Company expects to take timely delivery of
the final of these three vessels later this month.
The Tern will immediately commence an 18- to 22-month time charter at a
rate of $19,000 per day.
Upon delivery of the third vessel the Eagle Bulk Shipping
will consist of 16 dry bulk vessels including 12 Supramax and 4
Handymax vessels, with a cargo carrying capacity of 796,663 dwt., and a
fleet average age of approximately 5.5 years.