NEW YORK, March 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) ("Eagle Bulk") announced today that it has reached a comprehensive agreement with the Receivers of Korea Line Corporation ("KLC") regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership earlier this year. The agreement follows extensive and highly constructive dialogue between the two parties. -- Charter rates on ten vessels have been adjusted to $17,000 per vessel per day.