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Eagle Bulk Shipping expanding its global presence

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World Coal,

Eagle Bulk Shipping Inc. will be expanding its global commercial presence with the establishment of a new office in Hamburg, Germany. Eagle Bulk Europe GmbH, which is scheduled to commence operations in August of 2016, reflects Eagle's commitment to strengthen its commercial network while accelerating the build-out of the Company's commercial platform.

The Hamburg office will be led by Jan-Philipp (Japhi) Rauno, who served most recently as a partner with Mosvold Bulk Shipping. Rauno brings over 25 years of chartering experience and strong relationships across Europe in the dry bulk shipping sector that will prove beneficial to Eagle Bulk moving forward.

Gary Vogel, Eagle Bulk's CEO, commented: "We continue to invest in Eagle Bulk's commercial operating platform to help deliver above market results and become the world's premier supramax owner/operator. The establishment of our Hamburg office is an important milestone in this process as it ensures proximity to significant European chartering relationships while complementing our existing footprint in Connecticut and Singapore. Eagle Bulk's presence in the US, Asia and Europe will serve as a key strategic and competitive advantage moving forward. We are confident, as well, that Japhi is the right person to lead our European commercial operations, and we look forward to his immediate contributions."

Edited from press release by Harleigh Hobbs

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