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Eagle Bulk Shipping acquires new ultramax bulk carrier

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Dry Bulk,

Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the midsize dry bulk vessel segment, has announced that it has expanded its fleet with the purchase of a high-specification 2015-built scrubber-fitted ultramax bulk carrier for US$27.5 million.

The vessel, which was constructed at Imabari Shipbuilding Co., Ltd., in Japan, will be renamed the M/V Tokyo Eagle and will be delivered to the company during the 4Q22.

As previously disclosed, the company closed on the sale of the M/V Cardinal (2004-built non-scrubber fitted supramax) in August 2022. The vessel was sold for US$15.8 million and delivered just prior to its statutory dry dock due date.

Following these transactions, Eagle’s fleet will total 53 ships (91% scrubber-fitted) with an average age of 9.5 years. Since the company commenced its vessel renewal and growth program, it has executed 51 S&P transactions, acquiring 30 modern vessels and divesting 21 of its oldest and least efficient ships. These sale and purchase transactions have enabled the company to grow, while vastly improving overall fleet makeup; in terms of maintaining an attractive age profile, increasing cargo capacity per vessel, and reducing emissions on a per dwt basis.

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Supramax news Asian dry bulk news