NEW YORK, July 30, 2009 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) today announced that it has chartered four of its Supramax vessels at rates that are tied to the Baltic Supramax Index ("BSI") which provides Eagle with the flexibility of earning strong rates in the spot market while retaining the stability of a one year charter.
The Skua, Redwing, Kittiwake and the Goldeneye have been chartered for periods ranging from 10-15 months at rates that are indexed to the BSI. For the first 45 days of their respective charters, the index rate for the Skua, Redwing and Kittiwake is a maximum of $19,000 per day, and then uncapped thereafter. For the first 50 days of the Goldeneye charter the rate is $15,000 per day, and uncapped thereafter.
About Eagle Bulk Shipping Inc.
Eagle Bulk Shipping Inc., headquartered in New York City, is a leading global owner of Supramax dry bulk vessels, which are dry bulk vessels that range in size from 50,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.