Three more Supramaxes join Eagle Bulk’s fleet

Continuing with the fleet expansion program, U.S.-based ship owner and operator Eagle Bulk Shipping has entered into its second vessel purchase transaction since the start of 2021.

Illustration. Image by Eagle Bulk

On 11 February, the company said it bought three 2011-built CROWN-58 Supramax bulk carriers for a total of $21.15 million and 329,583 common shares of Eagle.

The ships, which will be renamed the M/V Montauk Eagle, M/V Newport Eagle, and M/V Sankaty Eagle, were all constructed at Yangzhou Dayang Shipbuilding Co., Ltd and are sister ships to 17 CROWN-58 Supramax bulkers in Eagle’s existing fleet.

The vessels are all expected to be delivered into the company’s fleet between March and May of this year, according to Eagle.

The latest acquisition comes only two weeks after Eagle Bulk purchased a high-specification 2017-built SDARI-64 scrubber-fitted Ultramax vessel from Monaco-based company Eneti. The unit, to be renamed the M/V Rotterdam Eagle, was bought for $15 million and a warrant for 212,315 common shares of Eagle.

 Eagle’s fleet currently comprises 52 ships of which 27 were acquired over the last four years.

As part of its strategy, the company has been selling older Supramaxes and acquiring newer ships in an effort to improve its fleet age profile and reduce CO2 footprint.