DALLAS, March 25, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Eagle Bulk Shipping Inc. (Nasdaq:EGLE). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/EGLE
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Eagle Bulk Shipping Inc. (EGLE) is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with emphasis on the Supramax class of vessels. It owns a fleet of Supramax dry bulk vessel, which range in size from 50,000 to 60,000 deadweight tons (dwt). This vessel has the cargo loading and unloading flexibility of on-board cranes while offering cargo carrying capacities approaching that of Panamax dry bulk vessels, which range in size from 60,000 to 100,000 dwt and port facilities to load and offload their cargoes.
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In the report, the analyst notes:
"As stated by EGLE chairman and CEO Sophocles N. Zoullas,'EGLE maintained profitability and continuing operational excellence in 2009, despite ongoing challenges in the global dry bulk market during the first half of the year.' Zoullas said the Company benefited from its well-timed entry into Baltic Supramax Index-linked (BSI) charters as the market improved in the latter half of 2009.
"During 2009, EGLE also expanded its fleet by taking delivery of four newbuilding Supramaxes (Crested Eagle, Stellar Eagle, Bittern, and the Canary), expanding the Company's fleet to 27 vessels, representing an increase of 17.4% over the previous year. Also last year, the Company amended its credit facility favorably, strengthening and adding flexibility to the balance sheet."
To read the entire report visit: http://www.stockpreacher.com/n/EGLE
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