Stamford, Conn., headquarteredEagle Bulk Shipping Inc (NASDAQ: EGLE) reports that it has actually bought 2 contemporary high-specification SDARI-64 style, scrubber-fitted Ultramax mass service providers. This adheres to the firm’s recently-announced purchase of a comparable spec vessel.
The very first vessel, which was constructed in 2015 and also will certainly be relabelled the M/V Helsinki Eagle, has actually been gotten for $16.5 million. The 2nd vessel, which was constructed in 2016 and also will certainly be relabelled the M/V Stockholm Eagle, has actually been gotten for $17.65 million.
Both ships were built at China’sChengxi Shipyard Co Ltd. Closings are anticipated throughout the very first quarter of 2021, with the M/V Stockholm Eagle providing to Eagle in the Atlantic container.
Gary Vogel, Eagle Bulk’s Chief Executive Officer, commented, “We have continued to actively renew our fleet this past year, acquiring three modern/efficient scrubber-fitted Ultramaxes and divesting five of our vintage Supramaxes, with an average age of 18 years. Over the past four years, we have turned over almost half of our fleet, acquiring 23 modern Ultramaxes and selling 19 older Supramaxes. These transactions have vastly improved our fleet makeup—increasing the average size of our ships, improving our fleet age profile, and reducing our emissions footprint on a per deadweight-ton basis. We believe that our fleet renewal strategy along with our active management approach to trading will help us maximize our cash generation potential and continue to deliver on our market outperformance.”