Eagle Bulk Buys Scrubber-Equipped Duo

by Ship & Bunker News Team
Wednesday December 30, 2020

US-based ship operator Eagle Bulk has bought two ultramax bulk carriers that both have scrubbers installed.

The first is a 2015-built vessel that will be renamed the M/V Helsinki Eagle and has been acquired for $16.5 million. The second vessel, which was built in 2016 and will be renamed the M/V Stockholm Eagle, has been acquired for $17.65 million.

Both ships were constructed at Chengxi Shipyard Co. Ltd in China. The deals are expected to close during the first quarter of 2021.

The move forms part of a fleet renewal plan that Eagle Bulk CEO, Gary Vogel, noting that over the past four years the owner has turned over almost half of our fleet, offloading 19 older supramaxes and acquired 23 modern ultramaxes.

"These transactions have vastly improved our fleet makeup—increasing the average size of our ships, improving our fleet age profile, and reducing our emissions footprint on a per deadweight-ton basis," Vogel added.

"We believe that our fleet renewal strategy along with our active management approach to trading will help us maximize our cash generation potential and continue to deliver on our market outperformance."