Eagle Bulk is transforming but still in the red

CEO Gary Vogel presents the first positive operating result for Eagle Bulk in seven years.

Photo: Eagle Bulk Shipping

Even though US-based dry bulk shipping company Eagle Bulk can, in CEO Gary Vogel's own words, for the first time in seven years present a positive operating result, this was not enough to finish 2017 with a bottom line profit.

Eagle Bulk booked a net deficit of USD 16.6 million in the final quarter of the year, which marked significant improvement over the same period last year, where the carrier booked a net loss of USD 142.2 million at a time when the international dry bulk sector was collapsing.

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