Eagle Bulk Shipping acquires modern Ultramax bulkcarrier

Eagle Bulk Shipping announced that it has expanded its fleet with the purchase of a high-specification 2015-built Ultramax bulkcarrier for $24.3M. The vessel, which was constructed at the Chengxi Shipyard, will be renamed the M/V Gibraltar Eagle and is expected to be delivered to the Company during the first quarter of 2023. Following this transaction, Eagle’s fleet will total 54 ships with an average age of 9.5 years. Since the Company commenced its vessel renewal and growth program, it has executed 52 S&P transactions, acquiring 31 modern vessels and divesting 21 of its oldest and least-efficient ships.