Stonington Eagle Handed Over to Eagle Bulk

Connecticut-based operator of dry bulkers Eagle Bulk Shipping has taken delivery of M/V Stonington Eagle, the third ship of the recently bought nine Crown-63 Ultramax dry bulk sister vessels from Greenship Bulk Trust.

The 63,500 dwt Stonington Eagle, previously named JS Garonne, was built by Chinese shipbuilder Dayang Shipbuilding in 2012. Currently, the ship has a market value of USD 17.06 million, VesselsValue’s data shows.

The bulker joins the company’s fleet of 43 vessels on the water, including five Ultramaxes.

The remaining six Ultramaxes are expected to be handed over to Eagle Bulk over the coming months. Following their delivery, the company’s owned fleet will consist of 49 bulkers.

Under the deal, which was first unveiled in late February 2017, Eagle Bulk Shipping agreed to acquire six Crown-63 Ultramaxes, while an additional three ships were contingent upon final approval from Greenship’s unit holders. The approvals for the additional vessels were granted in March 2017.

The company acquired the nine ships, to be renamed after Connecticut coastal towns, for a total of USD 153 million.

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