Eagle Bulk Shipping Inc. Takes Delivery of Supramax Vessel and Announces Time Charter Contract

Monday June 30, 8:45 am ET

NEW YORK, June 30, 2008 (PRIME NEWSWIRE) — Eagle Bulk Shipping Inc. (NasdaqGS:EGLE – News) today announced that it has taken delivery of the Goldeneye, a 2002 built 52,421 dwt Supramax dry bulk vessel. The Goldeneye, which was acquired as part of a two vessel transaction announced on May 21, 2008, will commence a one year charter at a rate of $61,000 per day. The second vessel, the Redwing, which was also acquired charter-free, will deliver in September 2008.