Eagle Bulk is taking a more hands-on approach to operating its fleet of bulk carriers by taking technical management in-house for 11 vessels that are currently managed by a third party.
The NASDAQ-listed company also announced it will move its office from New York City to Connecticut in the new year.
Bo Westergaard Jensen has joined Eagle Bulk as its chief commercial officer, who will look after Eagle Bulk’s international chartering and operations activities.
Per Moelris has also joined as the firm’s head of technical management, and will manage the company’s owned fleet of 44 vessels.
Alongside Moelris, Jonathan Dowsett has been named as senior fleet performance manager and will take responsibility for Eagle Bulk’s newly-created Performance Management and Optimisation business unit.
Eagle Bulk says it has signed a commercial lease for office space in Stamford, Connecticut. The lease on its current New York office will terminate on March 31, 2016.
Gary Vogel, Eagle Bulk’s CEO (pictured), said the company would focus on maintaining a “healthy” balance sheet that would provide flexibility in the future, given the “muted near-term outlook” for the dry bulk shipping market.
“Notwithstanding the current freight environment, we are now well into the early stages of a fundamental effort to redefine the company. This includes actively working to create a world-class commercial and technical operating platform with the objective to deliver premium value and results around our assets. The new hires we announced today are central to this effort,” Vogel said in the company’s third-quarter 2015 financial report.