![]() ![]() I believe this positive trend is indicative of a normalization of freight demand.Īdditionally, due to the easing of logistical issues, in the third quarter we were able to repatriate the vast majority of our seafarers who had been unable to return home in a timely manner due to travel restrictions. Gary Vogel, Eagle Bulk’s CEO, commented, “The Baltic Supramax Index continued to recover in the third quarter, since bottoming in April while in the midst of the global lockdown. Closings are expected to occur in the fourth quarter. Reached agreements to sell the M/V Osprey (2002-built Supramax) and M/V Shrike (2003-built Supramax) for a gross price of $10.0 million, in aggregate. Looking ahead, fixed 73% of Q4 available days at an average TCE of $11,275 as of November 2, 2020 Closing is expected to occur in the fourth quarter. Reached an agreement to sell the M/V Skua (2003-built Supramax) for a gross price of $5.4 million. Realized a net loss of $11.2 million, or $1.09 per basic and diluted shareĬompleted the 1-for-7 reverse stock split that became effective on September 15, 2020 TCE Revenue (1) for the quarter equated to $42.4 millionĪchieved TCE (1) of $9,620/day for the quarter versus the Adjusted net BSI (2) at $9,429/day (NASDAQ: EGLE) (“Eagle Bulk”, “Eagle” or the “Company”), one of the world’s largest owner-operators within the Supramax / Ultramax drybulk segment, today reported financial results for the three and nine months ended September 30, 2020. 05, 2020 (GLOBE NEWSWIRE) - Eagle Bulk Shipping Inc.
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