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Eagle Bulk Shipping Inc. (EGLE)

  • Jun. 21, 2012, 9:10 AM
    Premarket gainers: ONXX +37%. SUNH +36%. EGLE +22%. CHTP +13%. RAD +6%.
    Losers: KEG -14%. CELG -11%. BBBY -11%. RHT -9%. MAIN -5%.
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  • Jun. 20, 2012, 7:12 PM
    Eagle Bulk Shipping (EGLE) +14.1% AH after reaching a debt restructuring deal. $1.13B in debt outstanding through a revolving credit facility will be turned into a term loan due at the end of 2015, with a possible 18-month extension. Eagle will receive a new $20M credit facility, and all debt outstanding via its current credit agreement will carry an interest rate of LIBOR plus 6%. Creditors will receive warrants convertible into common stock equal to 20% of current outstanding shares. (PR)
  • May 22, 2012, 10:43 AM
    Global Hunter fires up Buy ratings on a number of shipping stocks including Diana Shipping (DSX +2.5%), DryShips (DRYS +9.5%), Safe Bulkers (SB +2.1%), and Baltic Trading (BALT +4.5%) - while starting Eagle Bulk Shipping (EGLE -0.9%), Excel Maritime (EXM -1.8%), Genco Shipping (GNK +1.1%) with below-keel Reduce ratings. While individual names in the sector tend to get tied up with momentum trading, the overriding theme has been a moderate bounce back off of a 25-year low in the Baltic Dry Index in February. Guggenheim Shipping ETF (SEA) +8.1% YTD.
  • May 9, 2012, 4:35 PM
    Eagle Bulk Shipping (EGLE): Q1 EPS of -$0.28 beats by $0.04. Revenue of $52.6M (-39% Y/Y) misses by $34M. (PR)
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  • Apr. 24, 2012, 2:45 PM
    Shipping stocks perk up as rates and bookings show some weekly improvement off of increased demand from China as it continues to import more oil from Africa as an alternative to Iran. The Baltic Dry Index +2.2% to $1,090, as the sector falls stocks back in favor for the day. Advancers: FRO +5.1%, OSG +5.1%, EXM +3.6%, GNK +1.5%, NM +1.6%, PRGN +1.8%, EGLE +8.1%, SBLK +2.2%, SB +2.8%.
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  • Apr. 11, 2012, 3:37 PM
    Shippers are seeing strong upside in today's trade, as reports suggest many carriers are dropping anchor until rates increase further and Alcoa's earnings surprise may indicate a more accelerated global shipping recovery. DRYS +8.2%, FRO +3.1%, NEWL +72%, FREE +12.1%, EGLE +5.6%, DSX +2%, TNK +3%.
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  • Mar. 14, 2012, 4:47 PM
    More on Eagle Bulk Shipping (EGLE): Q4 beats estimates as the shipper reported fewer-than-anticipated losses, despite a continued decline in net revenue. The company also issues cautious comments on the current quarter, noting that new-building deliveries flooded the market in January, and while demand is steady, it is insufficient at this point to meet unfavorable supply dynamics. Shares -4.8% AH.
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  • Mar. 14, 2012, 4:37 PM
    Eagle Bulk Shipping (EGLE): Q4 EPS of -$0.03 beats by $0.05. Revenue of $70M (-3.3% Y/Y) beats by $3.3M. Shares +1.7% AH. (PR)
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  • Feb. 15, 2012, 9:05 AM
    Premarket gainers: BPAX +51%. IPAS +21%. BCRX +14%. WCG +11%. TSEM +9%. CMCSK +8%. EGLE +7%. CLWR +7%. CMCSA +6%. ANF +6%. HIG +6%. VTG +5%. TTM +4%. K +3%. BCS +3%. DANG +3%. YGE +3%. DMND +3%. MET +3%. ACAS +3%. GNOM +3%. BZH +3%. COF +3%. TEVA +3%. MLU +3%.
    Losers: VG -12%. NBG -9%. RENN -8%. NZGA -6%. OC -5%. FXCM -3%. ALU -3%.
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  • Feb. 8, 2012, 11:22 AM
    The Baltic Dry Index pulls out of its death spiral to show a 1.9% gain. The move has all the earmarks of a dead cat bounce - instead of a confirmed market bottom - with shippers still willing to accept unprofitable charters due to an industry-wide oversupply of ships and weak demand.
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  • Feb. 7, 2012, 3:31 PM
    The plunge in the Baltic Dry index to multi-decade lows has some warning about a economic slowdown and a hit to equities, but a check of the record shows to index has little correlation to stocks. The dive in shipping rates is what it is - a response to too many ships being built over the past years. - but, not much more.
  • Feb. 6, 2012, 11:31 AM
    The collapse in shipping rates moves to the absurd stage, with Glencore getting paid $2K/day to hire a vessel. How could this happen? Ships deteriorate rather quickly if not kept seaworthy and moving, making transactions such as this necessary. (previous)
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  • Feb. 1, 2012, 12:58 PM
    The Baltic Dry Index dives again, off 2.6% to 662, the lowest reading in more than 25 years. Rates for Capesizes - the largest carriers of iron ore and coal - have plunged 84% in just 7 weeks, and owners are idling vessels instead of accepting the low price. In the meantime ships continue to be built even as Asian demand for raw materials slows.
  • Jan. 30, 2012, 3:26 AM
    The downward spiral underway in global commodity shipping rates won't improve much until 2014, according to CIMB research, at which point a better balance between new capacity and demand should allow for a modest recovery.
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  • Jan. 13, 2012, 8:21 AM
    The already steep decline in the Baltic Dry Shipping Index accelerates, off another 7.4% today and nearly back to lows seen during the depths of the global financial crisis. The index has halved since late October.
  • Dec. 1, 2011, 10:45 AM
    The shipping industry a looks like it's in rough seas. Freight rates from China to Europe have sunk 39% since August due to weak demand and vessel oversupply, a trend that is on course to get worse as the order book for new ships represents 30% of the global fleet. Meanwhile, EU bank woes threaten the supply of trade finance.
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Company Description
Eagle Bulk Shipping Inc is engaged in the ocean transportation of cargoes, including iron ores, coal, grains, cement and fertilizers along international shipping routes.
Sector: Services
Industry: Shipping
Country: United States