Low charter rates slash Eagle Bulk profits

Nigel Lowry and Michelle Wiese Bockmann - Thursday 5 November 2009

SUPRAMAX owner Eagle Bulk Shipping has blamed lower charter rates earned by some of its 25 bulk carriers for a sharp plunge in third quarter profits.
The New York-based company saw net income fall to $512,261 on time charter revenues of $41.6m. That compared with net income of $23m on revenues of $53.9m for the same period a year ago, when it had a...

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