Eagle Bulk Shipping Inc. Takes Delivery of M/V Hamburg Eagle

Stamford, Conn. - Oct. 23, 2018

Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (“Eagle Bulk” or the “Company”), one of the world’s largest owner-operators in the Supramax / Ultramax segment, today announced that it has taken delivery of its newly acquired vessel, the M/V Hamburg Eagle, a 2014-built SDARI-64 Ultramax.

The acquisition has been funded by cash on-hand and new debt equating to USD 12.8 million. This new loan represents an upsize to the existing Eagle Bulk Ultraco LLC loan facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of October 31, 2022.

With the addition of the M/V Hamburg Eagle, the Company’s fleet is now comprised of 47 vessels, including 13 Ultramaxes acquired over the last 24 months.

About Eagle Bulk Shipping Inc.
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. For further information, please visit our website: www.eagleships.com.

Eagle Bulk Shipping Inc. press release