Eagle Bulk Shipping News

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

Yemen's Houthi movement will expand its targets in the Red Sea region to include U.S. ships, an official from the Iran-allied group said on Monday, as it vowed to keep up attacks after U.S. and British strikes on its sites in Yemen.Attacks by the Houthis on ships in area since November have impacted companies and alarmed major powers in an escalation of Israel's more than three-month war with Hamas militants in Gaza. The group says it is acting in solidarity with Palestinians.British…

Houthi forces in Yemen struck the U.S.-owned and operated dry bulk ship Gibraltar Eagle with an anti-ship ballistic missile, U.S Central Command said on Monday, although there were no reports of injuries or significant damage.The vessel's U.S.-based operator Eagle Bulk Shipping said that it was hit by an "unidentified projectile" while sailing 100 miles off the Gulf of Aden and suffered limited damage to its cargo hold, and no seafarers were injured."As a result of the impact…

Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned.

U.S.-based dry bulk shipowner Eagle Bulk Shipping on Wednesday revealed it recently tested biofuels as a means to reduce carbon emissions from its vessel Stamford Eagle.The voyage, completed on GoodFuels' MDF1-100 sustainable biofuel, provided an approximately 80% reduction in net well-to-wake CO2 emissions compared to equivalent fossil fuel, the company said. A broad range of vessel owners and operators, from dredging contractors to cruise lines, have started to run their ships on biofuels as the global maritime industry explores ways to decarbonize.Naturally lower in sulfur…

U.S.-based shipowner Eagle Bulk Shipping announced it has expanded its fleet with the purchase of a secondhand Ultramax bulk carrier for $24.3 million.The vessel, which was constructed at China's Chengxi Shipyard in 2015, will be renamed Gibraltar Eagle and is expected to be delivered to the company during the first quarter of 2023. Eagle Bulk did not disclose the seller."This transaction is well-aligned with the company’s growth strategy of enhancing its fleet composition. Specifically, improving the age profile of the fleet, increasing the cargo capacity per vessel and reducing emissions on a per deadweight ton basis," Eagle Bulk said in a press release. The Stamford, Conn.

Stamford, Conn. based dry bulk shipping company Eagle Bulk Shipping on Monday announced it will transfer the listing of its shares from the Nasdaq Global Select Market to the New York Stock Exchange (NYSE). The company said it expects to commence trading as a NYSE-listed company at market open on January 4, 2023 under its existing ticker symbol, “EGLE”. The Company’s shares will continue to trade on the Nasdaq until the market close on January 3, 2023.Eagle's CEO Gary Vogel commented, “We are truly excited to join the New York Stock Exchange and have our shares trade alongside some of the world’s most respected companies, including the majority of our U.S.-listed peers within the maritime/shipping space.

U.S.-based shipowner Eagle Bulk Shipping Inc. on Tuesday announced it has purchased a 2015-built Ultramax bulk carrier for $27.5 million, as part of its fleet renewable program.The scrubber-fitted vessel, which was constructed at Imabari Shipbuilding Co., Ltd. in Japan, will be renamed the Tokyo Eagle and delivered to the company during the fourth quarter of 2022.As previously disclosed, the Eagle Bulk closed on the sale of the Cardinal (2004-built non-scrubber fitted Supramax) in August 2022.

U.S.-based shipowner Eagle Bulk Shipping announced it has sold its oldest vessel as part of its ongoing fleet renewal program.The company revealed in its second quarter earnings report that it sold the 55,362 DWT, 189.99-meter-long bulk carrier Cardinal for a total consideration of $15.8 million.The 2004-built geared Supramax was the final remaining ship from Eagle Bulk's original fleet at its inception in 2005.The vessel is expected to be delivered to its new owner, reportedly a Chinese buyer, in the third quarter of 2022.

Gary Vogel, chief executive officer of Eagle Bulk Shipping Inc., has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2022.The 2022 Commodore Award, given each year to a person in the international maritime industry who has contributed to the growth and development of the industry, will be presented on March 31, at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and expo, in Stamford, Conn..Vogel has served as CEO and director of Eagle Bulk Shipping Inc. (NASDAQ: EGLE) since September, 2015.

U.S.-based dry bulk owner-operator Eagle Bulk Shipping announced it has successfully completed its first sustainable biofuel voyage in cooperation with the Netherlands-based GoodFuels, as more shipowners continue to test the cleaner-burning fuel in an effort to reduce vessel emissions.Naturally lower in sulfur, biofuels burn cleaner with less particulates than heavy fuel oil (HFO) typically used by commercial vessels. As a renewable fuel, they also generate a smaller carbon footprint over their lifecycle than traditional fuels. Since biofuels need far less processing than biodiesel and other more refined fuels, they are also lower in cost.The 2015-built SDARI-64 Ultramax Sydney Eagle was bunkered with GoodFuels’ marine biofuel during its port call at Terneuzen, the Netherlands.

U.S.-based dry bulk shipping company Eagle Bulk Shipping on Thursday announced ithas appointed Costa Tsoutsoplides to the newly created chief strategy officer position. In this role, Tsoutsoplides will have broad responsibilities in developing Eagle’s corporate strategy as well as leading capital markets initiatives and overseeing ESG and investor relations. Tsoutsoplides will also retain his existing responsibilities, including mergers and acquisitions and vessel sale and purchase.Eagle's CEO Gary Vogel said, “I am pleased to announce Costa’s well-deserved promotion.

The U.S.-based dry bulk shipowner Eagle Bulk Shipping said Wednesday it had bought two high-spec 2015-built scrubber-fitted Ultramax bulk carriers for $44 million.The vessels, which will be renamed the M/V Antwerp Eagle and M/V Valencia Eagle, are of the SDARI-64 design and were constructed at Jiangsu Hantong Ship Heavy Industry Co. The company expects to take delivery of both ships during the third quarter of 2021.Eagle Bulk Shipping said it would fund the acquisition will with cash on hand, which includes equity issued under the company’s ATM program.

Eagle Bulk Shipping confirmed reports that one of its bulk carriers was hijacked in the Gulf of Guinea, and said the vessel and crew are safe now that the incident has been resolved. Maritime security groups had reported that the Marshall Islands-flagged Rowayton Eagle was boarded by pirates off the coast of Nigeria, and AIS tracking suggests the vessel had been adrift since January 27."As you may have read in the press, the M/V Rowayton Eagle was hijacked about 240 miles southeast of Lagos (Nigeria). We are very pleased to report that the incident has been resolved and our crew are safe and unharmed, and the vessel is fully operational," Eagle Bulk wrote in a social media post on Monday.

Eagle Bulk Shipping has acquired two Ultramax bulk carriers, the U.S.-based dry bulk owner-operator announced Tuesday.The first vessel, which was built in 2015 and will be renamed the Helsinki Eagle, has been acquired for $16.5 million. The second vessel, which was built in 2016 and will be renamed the Stockholm Eagle, has been acquired for $17.65 million. Both SDARI-64 scrubber-fitted ships were constructed at Chengxi Shipyard Co. Ltd.Closings are expected during the first quarter of 2021, with the M/V Stockholm Eagle delivering to Eagle in the Atlantic basin.The sales follow the company’s recently-announced acquisition of a similar specification vessel renamed Oslo Eagle.Gary Vogel…

Eagle Bulk Shipping Inc. has purchased a 2015-built bulk carrier for a purchase price of $16 million, the U.S.-based dry bulk owner-operator announced Wednesday.The ship, which will be renamed Oslo Eagle, is a high-specification SDARI-64 scrubber-fitted Ultramax constructed at Chengxi Shipyard Co. Ltd. in 2015. It is expected to be delivered into the Eagle Bulk fleet during the first quarter of 2021.The company’s fleet totals 48 ships, including 21 Ultramaxes acquired over the past few years.

U.S. based shipowner Eagle Bulk Shipping said a security incident involving a disgruntled armed guard hijacking one of its vessels has been resolved without injuries. The Marshall Islands-flagged bulk carrier Jaeger embarked three security guards in the Indian Ocean on July 21, before sailing toward the Red Sea, as the company has done for all transits through the high-risk area over the past 10+ years.Once on board, one of the guards did not surrender his weapon to the vessel’s captain as is normal protocol. He took control of the 190-meter ship and deviated its course as he voiced his grievances and demanded compensation to settle an ongoing payment dispute with his employer.

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle, and while these will continue to be critically important, on their own, they will not be enough to meet the…

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, announced that is has taken delivery of the sixth and final Ultramax drybulk vessel it agreed to acquire in July.The ship, which has been renamed the M/V Hong Kong Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd., said the owner-operator within the Supramax / Ultramax segment.Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to have successfully completed our latest round of vessel acquisitions. With a current fleet of 50 Supramax / Ultramax ships…

Eagle Bulk Shipping (EBS), the US-based fully integrated shipowner-operator engaged in the global transportation of drybulk commodities, has taken delivery of the fifth of six Ultramax drybulk vessels it has recently agreed to acquire.The ship, which has been renamed the M/V Shanghai Eagle, is a 2016-built, high specification SDARI-64 Ultramax vessel built at Jiangsu Yangzijiang Shipbuilding Co., Ltd, said the owner-operator within the Supramax / Ultramax segment.The acquisition was made by the EBS’ wholly-owned subsidiary, Eagle Bulk Shipco LLC , and was fully funded by restricted cash generated from previous vessel sale proceeds; the M/V Shanghai Eagle will form part of the security for the Subsidiary’s outstanding bond due in 2022.Proforma for the remaining acquisition vessel…

US-based owner and operator of dry bulk vessels Eagle Bulk Shipping  announced that it has taken delivery of the first of six modern Ultramax drybulk vessels the Company has previously agreed to acquire.The ship, which has been renamed the M/V Dublin Eagle, is a 2015-built, high specification scrubber-fitted SDARI-64 Ultramax vessel built at Jiangsu New Hantong Ship Heavy Industry Co., Ltd, said a press note from the player in the Supramax / Ultramax segment.Proforma for the five remaining acquisition vessels, which have yet to be delivered, the Company’s fleet will total 50 ships, including 20 Ultramax drybulk vessels acquired over the last 36 months.Headquartered in Stamford…

The US-based shipowner-operator engaged in the global transportation of drybulk commodities, Eagle Bulk Shipping  announced the establishment of a new commercial office in Copenhagen, relocating from its existing base in Hamburg.The Copenhagen office will be led by Mathias Groenvald, who recently joined Eagle Bulk, said a press release from the player in Supramax / Ultramax segment.Groenvald previously served as Senior Vice President, Head of Chartering for Clipper Bulk, and has over 30 years of drybulk industry experience.Gary Vogel, Eagle Bulk's CEO, commented, "Given its significant concentration of drybulk activity, we believe that Copenhagen is the ideal location for our European commercial operations.