Listed bulk carrier files for Chapter 11 protection

Eagle Bulk Shipping has filed for bankruptcy protection in New York, though the carrier already has an agreement in place with its lenders.

BY OLE ANDERSEN

Greek-controlled Eagle Bulk Shipping, which is listed on the New York Stock Exchange, filed for Chapter 11 bankruptcy protection late Wednesday night. The company also informs that it has secured an agreement with its lenders to cut USD 975 million from the carrier's debt.

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