Profile: Eagle Bulk Shipping Inc (EGLE.OQ)

Eagle Bulk Shipping Inc., incorporated on March 23, 2005, is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels. The Company owns Supramax dry bulk vessel. Supramax dry bulk vessels range in size from 50,000 to 60,000 deadweight tons. These vessels have the cargo loading and unloading flexibility of on-board cranes while offering cargo carrying capacities approaching that of Panamax dry bulk vessels, which range in size from 60,000 to 100,000 deadweight tons and must rely on port facilities to load and offload their cargoes.On July 26, 2011 the Company sold its the Heron, a Supramax class of vessels.

The Company has two operations of its fleet, including commercial Operations, which involves chartering and operating a vessel and technical operations, which involves maintaining, crewing and insuring a vessel. As of December 31, 2011, the Company owned and operated a modern fleet of 45 oceangoing vessels, 43 Supramax and 2 Handymax, with a combined carrying capacity of 2,451,259 deadweight tons and an average age of approximately five years. During the year ended December 31, 2011, the Company took delivery of its last eight Chinese-built vessels, the Thrush, Nighthawk, Oriole, Owl, Petrel, Puffin, Roadrunner and Sandpiper and sold one vessel to an unaffiliated third party.

The Company carries out the commercial and strategic management of its fleet through its wholly owned subsidiary, Eagle Shipping International (USA) LLC, a Marshall Islands limited liability company. Each of the Company's vessels is owned by the Company through a separate wholly owned Marshall Islands limited liability company.