AmericasDry Cargo

Eagle Bulk sells handymax at $5.7m loss

Photo of Holly Birkett Holly BirkettMay 18, 2015
4 Less than a minute

Athens: NASDAQ-listed Eagle Bulk Shipping has revealed that it sold the oldest vessel in its fleet at a loss of $5.7m.

The handymax Kite (47,200 dwt, built 1997) was sold to an unknown buyer for $4,297,100 after brokerage commissions, the company said in its financial results for the first quarter 2015. The loss will be realised in Eagle Bulk’s second-quarter results.

The New York-based company decided to sell the vessel in April but the vessel was not available for delivery before April 29. The sale was finalised on May 7.

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Photo of Holly Birkett Holly BirkettMay 18, 2015
4 Less than a minute
Photo of Holly Birkett

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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