Eagle Bulk continues with fleet renewal as it buys scrubber-fitted pair

U.S.-based ship owner and operator Eagle Bulk Shipping is moving forward with its fleet rejuvenation programme as it has acquired two high-specification SDARI-64 scrubber-fitted Ultramax bulk carriers.

The first vessel will be renamed the M/V Helsinki Eagle. The 2015-built bulker has been acquired for $16.5 million.

The second ship will be renamed the M/V Stockholm Eagle. The bulk carrier, which was built in 2016, has been acquired for $17.65 million.

As informed, both ships were constructed at China’s Chengxi Shipyard Co. Ltd. Closings. They are slated for delivery during the first quarter of 2021, with the M/V Stockholm Eagle delivering to Eagle in the Atlantic basin.

“We have continued to actively renew our fleet this past year, acquiring three modern/efficient scrubber-fitted Ultramaxes and divesting five of our vintage Supramaxes, with an average age of ~18 years,” Gary Vogel, Eagle Bulk’s CEO, commented.

“Over the past four years, we have turned over almost half of our fleet, acquiring 23 modern Ultramaxes and selling 19 older Supramaxes. 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.”

“We believe that our fleet renewal strategy along with our active management approach to trading will help us maximize our cash generation potential,” he added.

The latest purchase follows the company’s recently unveiled acquisition of a 2015-built SDARI-64 scrubber-fitted Ultramax. Purchased for $16 million, the unit will be renamed the Oslo Eagle.