Bulk

Eagle Bulk presents weakened results ahead of merger with Star Bulk

Despite a significant decline in 2023, the fourth quarter showed clear signs of a recovery in the dry cargo market, according to Eagle Bulk’s CEO.
”We saw a meaningful improvement to our bottom line in Q4, reflecting both a strong recovery in freight rates and an increase in our relative performance against the market,” says Eagle Bulk CEO Gary Vogel. | Photo: David Butler / Marine Money
”We saw a meaningful improvement to our bottom line in Q4, reflecting both a strong recovery in freight rates and an increase in our relative performance against the market,” says Eagle Bulk CEO Gary Vogel. | Photo: David Butler / Marine Money
by JENS THOMSEN

The last full year accounts from US dry bulk operator and ship owner Eagle Bulk, which is heading towards a merger with its Greek competitor Star Bulk, reflect a weak dry bulk market, which in 2023 dragged down Eagle Bulk’s business significantly.

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