Eagle Bulk confirms nine ship Ultramax acquisition

Crown 63 is a Sinopacific Shipbuilding design

MARCH 27, 2017 — Eagle Bulk Shipping Inc. (Nasdaq: EGLE) today announced that its proposed acquisition of three contingent vessels from Greenship Bulk has been approved by Greenship Bulk Trust. As originally announced on February 28, 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 $153 million.

Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to have been able to secure this fleet acquisition of nine 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.