Eagle Bulk Shipping Inc.

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Eagle Bulk Shipping is headquartered in New York City. The company is one of the largest United States-based owners of Handymax dry bulk vessels that range in size from 35,000 to 60,000 deadweight tons and transport a range of bulk cargoes, such as iron ore, coal, grain, cement and fertilizer. Its nearly 13-vessel fleet has a combined carrying capacity of 643,980 deadweight tons and an average age of under six years. The company s strategy is to charter its vessels primarily pursuant to one- to three-year time charters to allow it to take advantage of the stable cash flow and high utilization rates that are associated with medium- to long-term time charters. The technical operation and navigation of the vessel at all times remains Eagle Bulk Shipping s responsibility, including vessel operating expenses, such as the cost of crewing, insuring, repairing and maintaining the vessel, costs of spare parts and supplies, tonnage taxes and other miscellaneous expenses.