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Eagle Bulk sees sustained momentum for dry bulk in second quarter

US-based dry bulk company Eagle Bulk expanded its fleet in the first quarter, for which CEO Gary Vogel highlights "the best TCE performance in over a decade". The upturn has continued into the second quarter with an effect on ship values.

Photo: PR / Eagle Bulk

Eagle Bulk sees a potential for further gains in the dry bulk market, which has so far brought a leap in earnings this year and more vessel purchases.

In the first months of 2021, the US-based dry bulk company saw its net revenue increase USD 22 million to USD 96.6 million while black numbers were reported on the bottom line as well as a net income of USD 9.9 million. This is a sharp contrast to the reported net loss of USD 3.5 million same time last year.

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