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.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

OECD downgrades growth forecast for global economy

The global economy is still growing, though it's losing momentum, according to the latest growth estimate of the OECD's Economic Outlook. Bottlenecks in the shipping sector and elsewhere as well as pressure on supply chains have contributed to rising inflation.

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs