An ultramax in and two supramaxes out at Eagle Bulk

An ultramax in and two supramaxes out at Eagle Bulk

US dry bulk owner Eagle Bulk Shipping has confirmed the acquisition of a 2015-built ultramax bulker for $20.4m in a deal widely reported by brokers earlier in the month.

The Queen Cuki, acquired from Lomar Shipping, has been renamed Cape Town Eagle, and comes with an existing time charter with around one year remaining. The charter, which sources suggest is with London operators ED&F Man Shipping, is at a variable rate with a floor of $11,400 per day.

Separately, Eagle Bulk has sold 2001-built supramaxes Condor and Merlin for a total of $13.2m. The vessels were approaching compulsory drockdocking and ballast water treatment system installation.

The shuffle of its fleet will leave Eagle Bulk with 46 ships in total, made up of 14 ultramaxes and 32 supramaxes.

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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