Eagle Bulk goes the whole nine on Greenship Bulk ultramax deal

Eagle Bulk goes the whole nine on Greenship Bulk ultramax deal

New York-listed dry bulk owner Eagle Bulk Shipping says that its acquisition of three ultramax vessels from Greenship Bulk, part of a $153m deal to acquire nine vessels, has been approved by Greenship Bulk Trust.

Last month, Eagle Bulk reached an agreement with Greenship Bulk for up to nine Crown-63 sister vessels ranging in age from two to five years. While the deal was done for the outright acquisition of six vessels, three vessels were still dependant on the final approval from Greenship’s unit holders.

Gary Vogel, CEO of Eagle Bulk, commented, “We are pleased to have been able to secure this fleet acquisition of 9 quality Ultramax vessels, and look forward to having them join Eagle’s fleet over the coming months.”

Deliveries are expected to commence in April, and Eagle Bulk’s fleet will reach 50 owned vessels once all nine of the ultramaxes are delivered.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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