Stamford, Conn., headquartered Eagle Bulk Shipping Inc. (NYSE: EGLE) has expanded its fleet with the acquisition of a high-specification 2015-built Ultramax bulk service for $24.3 million.
The vessel, which was constructed on the Chengxi Shipyard Co., Ltd., will probably be renamed the M/V Gibraltar Eagle and is predicted to be delivered to the corporate in the course of the first quarter of 2023.
Eagle Bulk says the transaction is well-aligned with its progress technique of enhancing its fleet composition: Specifically, enhancing the age profile of the fleet, growing the cargo capability per vessel, and lowering emissions on a per deadweight ton foundation.
Following the transaction, Eagle Bulk’s fleet will complete 54 ships (89% scrubber-fitted) with a mean age of 9.5 years. Since the corporate started its vessel renewal and progress program, it has executed 52 S&P transactions, buying 31 trendy vessels and divesting 21 of its oldest and least-efficient ships.
