Eagle Bulk Shipping Inc. (EGLE) - NASDAQ
  • Nov. 16, 2015, 5:23 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE): Q3 EPS of -$0.54
    • Revenue of $29.1M (-2.3% Y/Y)
    | Nov. 16, 2015, 5:23 PM
  • Sep. 18, 2015, 1:11 PM
    • The Baltic Dry Index rose 77 points, or +8.7%, overnight to 960, its biggest two-day gain in almost seven years amid speculation that Chinese iron ore purchasing is eroding the supply of vessels to collect the raw material from Brazil.
    • The index rose 18% on Thursday and Friday, the most for two days since February 2009, and charter costs for capesize ships that take iron ore to China from Brazil rose by 16% to $14.59/ton.
    • Overall capesize rates rose overnight by $2,782, or +23.4%, or to $14,658/day (+9.4% M/M); in the past two days, capsize rates are up $5,409, or +58.5%.
    • "There’s a misunderstanding among investors that China isn’t buying iron ore... It is," says the managing director of Commodore Research. “China is still buying every single ton that global miners want to sell.”
    • Related drybulk stocks include DRYS, GNK, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
    | Sep. 18, 2015, 1:11 PM | 45 Comments
  • Aug. 14, 2015, 4:34 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE): Q2 EPS of -$0.73
    • Revenue of $22.7M (-46.5% Y/Y)
    | Aug. 14, 2015, 4:34 PM
  • Jul. 21, 2015, 11:00 AM
    • The Baltic Dry Index rose 4.3% to 1,113 with gains registering for capesize, panamax, and supramax rates.
    • The BDI has doubled since February when a weak market prompted some companies to scrap ships. Shipping rates are still well-below the level from late 2013 to late 2014.
    • The Guggenheim Shipping ETF (SEA +1.3%) tracks the Delta Global Shipping Index which correlates only loosely with the BDI.
    • Related stocks: DRYS, DSX, FREE, EGLE, NM, NMM, SBLK, BALT, SHIP, GSL, PRGN, GOGL.
    | Jul. 21, 2015, 11:00 AM | 21 Comments
  • Jul. 16, 2015, 12:55 PM
    • The Baltic Dry Index rose 6% overnight to 1,009, capping a 10th consecutive day of gains that has seen a 27% increase; the BDI is now at its highest level since early December, and up 98% since hitting an all-time low on Feb. 18.
    • The gains were across the board in capesize, panamax and supramax rates: capesize +14% overnight to $12,693/day (+106% M/M), panamax +2.4% to $9,158/day (+49% M/M), supramax +2.7% to $8,603/day (+18.4% M/M).
    • Related drybulk stocks include: DRYS, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, SALT, GOGL, KEX, SB, SINO, BALT, SHIP, DCIX
    | Jul. 16, 2015, 12:55 PM | 28 Comments
  • Jul. 7, 2015, 4:44 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE) appoints Gary Vogel as its new CEO effective Sept. 1, succeeding Stanley Ryan, who will resume his position as an independent director.
    • EGLE says Vogel brings more than 25 years' experience as an operator in the geared dry bulk sector, most recently as CEO of Clipper Group.
    | Jul. 7, 2015, 4:44 PM
  • Apr. 10, 2015, 3:57 PM
    • Eagle Bulk Shipping (EGLE -2.8%) is upgraded to Buy from Hold at Jefferies, which cites the recently announced agreement concerning 12 vessels chartered to Korea Line Corp. which the firm believes lock-in long-term contracts under terms that allow for even greater upside than in previous deals.
    • The new deal includes a floor rate of $17K/day on the dozen vessels plus 50% profit sharing over $21K/day through December 2018; the previous terms for the vessels included a floor rate of $18.5K/day through mid-2016 plus $18K/day plus 50% profit sharing over $22K/day through December 2018.
    • Jefferies believes EGLE's recent selloff is overdone, and that the new deal with Korea Line could serve as a catalyst for gains.
    | Apr. 10, 2015, 3:57 PM
  • Mar. 9, 2015, 5:40 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE) says it has named Stanley Ryan as its new CEO, effective March 6, succeeding Sophocles Zoullas, who has resigned from all positions at the company.
    • Ryan, an EGLE board member, was corporate platform leader at Cargill during 2011-14 after serving as a global co-leader of Cargill's agricultural supply chain businesses; he had worked for the company since 1989.
    • EGLE shares are down 32% YTD.
    | Mar. 9, 2015, 5:40 PM
  • Feb. 25, 2015, 6:21 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE) has asked CEO Sophocles N. Zoullas to step back from his day-to-day duties.
    • The company says it received a notice from Zoullas terminating his employment contract for good reason.
    • Randee Day has stepped in as interim president.
    | Feb. 25, 2015, 6:21 PM | 3 Comments
  • Feb. 2, 2015, 5:35 PM
    • Top gainers, as of 5:15 p.m.: ESPR +11.6%. IDTI +8.3%. CLF +7.6%. TZA +5.5%. FN +3.9%.
    • Top losers, as of 5:15 p.m.: SSYS -27.2%. RCII -12.9%. DDD -9.1%. EGLE -6.4%. TRGP -5.2%.
    | Feb. 2, 2015, 5:35 PM | 9 Comments
  • Jan. 30, 2015, 2:58 PM
    • The Baltic Dry Index falls another 3.8% and is now trading at its lowest levels since the 1980s, even as traded volumes of many commodities are reaching record levels.
    • The dry-bulk market has been sunk by a perfect storm as new ships ordered after the financial crisis have hit the seas just as Chinese economic growth has slowed and commodity prices have turned lower.
    • Earnings for a capesize vessel typically used to transport coal and iron ore have fallen to $6,707/day today, down ~50% Y/Y and hardly enough to cover daily operating expenses of $6K-$10K.
    • As one analyst says, some of the share prices are starting to reflect almost a state of bankruptcy: Shares of Scorpio Bulkers (NYSE:SALT), for one, have plunged 85% in the past year, and Star Bulk Carriers (NASDAQ:SBLK) has shed 67% in the same period.
    • Related tickers: FREE, EGLE, SB, DRYS, NM, SHIP, ESEA, PRGN, DCIX, GSL, NMM, DSX, DAC, KEX, ULTR, BALT, SINO.
    | Jan. 30, 2015, 2:58 PM | 21 Comments
  • Oct. 15, 2014, 6:13 PM
    • Eagle Bulk Shipping (NASDAQ:EGLE) completes its court-approved financial restructuring, saying it has emerged with a strong balance sheet and improved liquidity.
    • EGLE says it has reduced its debt obligations by 80%, or ~$1B, significantly lowered its annual cash interest expense and enhanced liquidity, and closed on a new $275M exit financing facility.
    • All existing equity interests in EGLE are canceled, with such interests receiving 0.5% of new equity in the reorganized company.
    | Oct. 15, 2014, 6:13 PM | 2 Comments
  • Aug. 19, 2014, 12:49 PM
    | Aug. 19, 2014, 12:49 PM | 1 Comment
  • Aug. 18, 2014, 10:32 AM
    • Drybulk shipping rates continue to move higher, adding to last week's run as iron ore shipments out of Brazil and Australia pick up.
    • On Friday, drybulk rates as measured by the Baltic Dry Index rose 7.7%, capping a 31% gain for the week driven by strength across the board but mainly in Capesize and Panamax rates.
    • After beginning its ascent on July 23, the BDI has jumped 40%, rising in every session except one.
    • Last week, Capesize rates surged 65% to $15,561/day, Panamax rates climbed 29% to $6,397/day, and Supramax rates added 9% to $9,170/day.
    • Related drybulk stocks include: DRYS +2%, PRGN +4.1%, DSX +1%, FREE +8.2%, EGLE -2%, NM +2.5%, NMM +0.7%, SBLK +1.1%, SB +1.7%, BALT +2.5%, SHIP -2.1%, DCIX +2.2%.
    | Aug. 18, 2014, 10:32 AM | 2 Comments
  • Aug. 14, 2014, 10:53 AM
    • Drybulk shipping rates, as measured by the Baltic Dry Index, surged 8.2% overnight, driven by strength across the board but mainly in capesize and panamax rates.
    • Capesize rates jumped 15.7% to $13,677/day, Panamax rates climbed 9.7% to $5,883/day, and Supramax rates rose 1.9% to $9,004/day.
    • Related drybulk stocks include: DRYS +2.6%, PRGN +5.8%, DSX +3.9%, FREE +7.9%, EGLE +2.2%, NM +5.6%, NMM +1%, SBLK +6.2%, SB +5.7%, BALT +3.8%, SHIP +0.7%, DCIX flat.
    | Aug. 14, 2014, 10:53 AM | 12 Comments
  • Aug. 11, 2014, 12:47 PM
    | Aug. 11, 2014, 12:47 PM | 3 Comments
Company Description
Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes,... More
Sector: Services
Industry: Shipping
Country: United States