Eagle Bulk Adds Ultramax to Its Fleet

BulkerIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Connecticut-based owner of dry bulkers Eagle Bulk Shipping has acquired a 2014-built SDARI-64 Ultramax bulk carrier for USD 21.2 million. 

The vessel, constructed at Chengxi Shipyard, which will be renamed M/V Hamburg Eagle, is scheduled to be delivered to the company during the fourth quarter of 2018.

Upon delivery of the M/V Hamburg Eagle, the company’s fleet will consist of 47 vessels.

The purchase comes after Eagle Bulk returned to profit in the first quarter of 2018, reversing from a net loss of USD 11 million in the same quarter in 2017.

The company said that its net profit for the period stood at USD 0.1 million.

Generated net revenues for the period were USD 79.4 million, representing an increase of 73 pct year-on-year.

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