NEW YORK, April 29, 2010 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) today announced that it has taken delivery of the Gannet Bulker, a 58,000 dwt Supramax dry bulk vessel. The charter also includes profit sharing over $20,000 per day. In aggregate, the Gannet Bulker will contribute approximately $19 million in minimum contracted revenue.

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.
CONTACT:  Eagle Bulk Shipping Inc.          Investor Contact          Alan Ginsberg, Chief Financial Officer          (212) 785-2500          Perry Street Communications          Media Contact          Jonathan Morgan          (212) 741-0014