NEW YORK, Aug. 2, 2010 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) has taken delivery of the Kingfisher, a 58,000 dwt Supramax dry bulk vessel. The Kingfisher has entered into an 8.5 year time charter at a base rate of $18,500 per day. The charter also includes 50% profit sharing on rates above $21,500. In aggregate, the Kingfisher will contribute over $56 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