Eagle Bulk Shipping Inc. Orders Four 58,000 dwt Supramax Vessels

Eagle Bulk Shipping Inc. announced today it has exercised options for the construction of four 58,000 dwt Supramax vessels from the Sinopacific Shipbuilding Group, the parent of the Yangzhou Dayang Shipbuilding Co. (China), at a contract price of $42.3 million per vessel. The availability of these options was initially reported by Eagle Bulk on August 7, 2007.