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New ultramax vessel for Eagle Bulk Shipping

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Dry Bulk,

Eagle Bulk Shipping Inc. has received delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 ultramax.

The acquisition has been funded by cash on-hand and new debt of US$8.6 million. This loan, which equates to approximately 40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco LLC Debt Facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of 31 October 2022.

With this new addition, Eagle Bulk Shipping’s fleet now consists of 47 vessels, including 12 ultramaxes acquired over the last 14 months. 

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