Eagle Bulk Shipping confirms acquisition of nine ultramax vessels

Eagle Bulk Shipping Inc. (Nasdaq: EGLE) has announced that its proposed acquisition of three contingent vessels from Greenship Bulk has been approved by Greenship Bulk Trust. As originally announced on 28 February, 2017, the company reached a definitive agreement to purchase a minimum of six and up to nine Crown-63 ultramax dry bulk sister vessels for an aggregate price of US$153 million.

Gary Vogel, Eagle Bulk's CEO, commented, "We are pleased to have been able to secure this fleet acquisition of 9 quality Ultramax vessels, and look forward to having them join Eagle's fleet over the coming months."

Stamford, CT-based Eagle Bulk is naming all nine vessels after Connecticut coastal towns.

With the addition of these nine vessels, the Eagle Bulk fleet will consist of 50 owned vessels.

As previously announced, Eagle Bulk will report its financial results for the fourth quarter and full year ended 31 December, 2016, after the close of stock market trading on Thursday, 30 March. Members of Eagle Bulk's senior management team will host a teleconference and webcast at 8:30 am ET on Friday, 31 March to discuss the results.

Read the article online at: https://www.drybulkmagazine.com/shipping/27032017/eagle-bulk-shipping-confirms-acquisition-of-nine-ultramax-vessels/