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Eagle Bulk secures bondholder approval for scrubber financing

The New York-listed dry bulk operator maintained a positive trend and grew its revenue and profit. Meanwhile, bondholders have approved amendments to a loan that frees up money for the installation of scrubbers.

Photo: Eagle Bulk Shipping

Eagle Bulk had a third quarter in which the positive developments for the New York-listed dry bulk operator continued in what CEO Gary Vogel describes as a "steadily rising market."

The carrier's revenue grew 10 percent to USD 69.1 million from USD 62.7 million in the third quarter of 2017, and the bottom line remained positive with a profit of USD 2.5 million compared to a deficit of USD 10.2 million in the same period last year, shows Eagle Bulk's interim report.

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