Eagle Bulk Confirms Purchase of Nine Ultramaxes

Connecticut-based operator of dry bulkers Eagle Bulk Shipping has received an approval to acquire up to nine Ultramax dry bulk sister vessels for a price of USD 153 million from Greenship Bulk.

Under the deal, which was first unveiled in late February 2017, Eagle Bulk Shipping reached an agreement to acquire six Crown-63 Ultramaxes, while an additional 3 ships were contingent upon final approval from Greenship’s unit holders.

“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,” Gary Vogel, Eagle Bulk’s CEO, said.

Eagle Bulk said that all 9 vessels would be renamed after Connecticut coastal towns. Out of the nine ships, seven were constructed in 2013, while the remaining two were built in 2012 and 2015, respectively.

With the addition of these nine vessels, the Eagle Bulk fleet will consist of 50 owned vessels, ranging in size from 50,000 to 65,000 dwt.

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