Eagle Bulk grows revenue but lost USD 19 million

Carrier Eagle Bulk was able to increase revenue in the third quarter of the year in spite of operating four ships less in its fleet compared to the same period 2015, yet the result still came to a deficit of USD 19.4 million.

Photo: Clipper Group

Eagle Bulk, headed by former Clipper CEO Gary Vogel, finished the third quarter of 2016 with a deficit of USD 19.4 million.

The result thus fell more or less in line with the result from the same period last year, which came to a deficit of USD 20.4 million. However, the carrier's revenue increased to USD 35.8 million against USD 29.1 million in the third quarter 2015 in spite of Eagle Bulk operating four ships less in its fleet in the third quarter this year.

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