Focus on Companies: Eagle Bulk Shipping Inc.

Headquartered in New York City, Eagle Bulk Shipping is the largest owner of Handymax dry bulk vessels in the United States.  Third quarter results for revenue were recently announced, prompting the following comment from the chairman and CEO Sophocles Zoullas:

“The dry bulk market remains in a cyclical trough characterized by supply growth and an inconsistent demand profile. While this environment continues to weigh on our financial results, Eagle Bulk’s young and agile fleet of Supramax vessels and dynamic chartering strategy should enhance our competitiveness when the market improves.”

The management team at Eagle Bulk Shipping Inc. has an average of 20 years of experience in the Handymax market.  The company’s fleet of dry bulk vessels is comprised mostly of the Supramax type of carrier, which is a vessel perfectly suited for ports with both length and draught restrictions or ports which have a dearth of transshipment infrastructure, therefore making them more versatile for shipping to a wide range and large number of ports worldwide.

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com