Skip to main content

Eagle Bulk Shipping to acquire Ultramax Vessels

Published by
Dry Bulk,


Eagle Bulk Shipping Inc. has announced that it has reached a definitive agreement to purchase a minimum of 6 and up to 9 Crown-63 Ultramax dry bulk sister vessels for an aggregate price of US$153 million, assuming all 9 ships are transacted.

The vessels, which range in age from 2 - 5 years, will be acquired from Greenship Bulk Trust, a company registered on the Norwegian OTC list. The agreement includes the outright acquisition of 6 vessels, with an additional 3 vessels contingent upon final approval from Greenship's unit holders.

Deliveries are anticipated to commence in April 2017.

Gary Vogel, Eagle Bulk's CEO, commented: "Eagle Bulk continues to execute on our fleet renewal and growth strategy, and today's announced acquisition affirms our ability to transact in a meaningful way. We are especially pleased that we were able to reach an agreement to purchase 6, and potentially 9, sister ships en bloc in a market where quality tonnage is difficult to find. We view this as a milestone transaction, as it can increase our number of vessels by over 20% while meaningfully advancing the build-out of our owner-operator business model."

Assuming the successful delivery of all 9 vessels, the Eagle Bulk fleet will consist of 50 owned vessels.

Read the article online at: https://www.drybulkmagazine.com/shipping/01032017/eagle-bulk-shipping-to-acquire-ultramax-vessels/

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »

 

New Bedeschi project for Kima

The project is for the transportation of fresh urea from granulation to bagging silos or to urea bulk storage.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Dry bulk shipping market