Eagle Bulk Shipping Inc. Announces the Purchase of Ultramax Bulkcarrier

Stamford, Conn. - Dec. 19, 2017

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) (the “Company”) announced today that it has acquired a 2015-built CROWN-63 Ultramax bulkcarrier for a purchase price of USD 21.275 million. The vessel was constructed at Yangzhou Dayang Shipbuilding CO.,LTD., the same yard as the nine Ultramaxes acquired by the Company earlier this year, and is of similar design. The vessel is scheduled to be delivered to the Company in January 2018, and will be renamed the M/V New London Eagle.

Including the M/V New London Eagle, the Company’s fleet will consist of 47 vessels, including 12 Ultramaxes acquired over the last 12 months.

About Eagle Bulk Shipping
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.

Eagle Bulk Shipping Inc. press release