7/24/2018 7:30:04 AMEagle Bulk Shipping Inc. Announces Purchase of Ultramax Bulkcarrier

13th vessel acquisition since commencing fleet renewal strategy 

STAMFORD, Conn., July 24, 2018 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NASDAQ:EGLE) (the “Company”) announced today that it has acquired a high-specification 2014-built SDARI-64 Ultramax bulkcarrier for a purchase price of USD 21.2 million.  The ship was constructed at Chengxi Shipyard Co. Ltd, the same yard as the M/V Singapore Eagle.  The vessel, 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, including 13 Ultramax dry bulk vessels acquired over the last 20 months.

About Eagle Bulk Shipping Inc.

Eagle Bulk Shipping Inc. is a Marshall Islands corporation headquartered in Stamford, Connecticut. Eagle Bulk owns one of the largest fleets of Supramax/Ultramax dry bulk vessels in the world. Supramax/ Ultramax vessels, which are constructed with on-board cranes, range in size from approximately 50,000 to 65,000 dwt. The Company transports a broad range of major and minor bulk cargoes, including but not limited to coal, grain, ore, pet coke, cement and fertilizer, along worldwide shipping routes.

For further information, please visit our website: www.eagleships.com.

Company Contact
Frank De Costanzo
Chief Financial Officer
Eagle Bulk Shipping, Inc.
Tel. +1 203-276-8100
Email: investor@eagleships.com

Media Contact
Jonathan Morgan or Alex Hinson
Perry Street Communications, New York
Tel. +1 212-741-0014

Eagle Bulk Shipping Inc.

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