zoomEagle Bulk's Ultramax; Source: Pxhere under CC0 Creative Commons license

Ship owner and operator Eagle Bulk Shipping has decided to establish a new commercial office in Copenhagen, relocating from its existing base in Hamburg.

The company will now operate from three offices based in Connecticut, Singapore and Denmark.

As informed, the Copenhagen office will be led by Mathias Groenvald, who recently joined Eagle Bulk. Groenvald previously served as Senior Vice President, Head of Chartering for Clipper Bulk, and has over 30 years of drybulk industry experience.

“Given its significant concentration of drybulk activity, we believe that Copenhagen is the ideal location for our European commercial operations,” Gary Vogel, Eagle Bulk’s CEO, commented.

In late July, Eagle Bulk reported a net loss of USD 6 million for the second quarter of this year and a 7 percent decrease in its revenues. The company explained that the results were driven by the challenging freight environment in the first six months of the year.

Eagle Bulk, which focuses on Ultramax and Supramax segments, has a fleet of 46 vessels with an aggregate tonnage of 2.6 million dwt and an average fleet age of 8.9 years.