Eagle Bulk Shipping Inc.
eagleships.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Mar 4, 2024. Its latest SEC filing is a SCHEDULE 13G from Nov 14, 2024.
10-K for FY2023, filed Mar 4, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Transports dry-bulk cargoes for miners, producers and traders, operating midsize ships that carry commodities such as iron ore, coal and grain.
10-K for FY2023, filed Mar 4, 2024
How Did They Make Money?
Charterers pay daily hire for use of a ship under a time charter, or freight for cargo carried on a voyage; voyage-charter customers generally pay shortly after loading is complete.
10-K for FY2023, filed Mar 4, 2024Time charter-out describes a contract for the use of a ship for an agreed period of time, at an agreed hire rate per day. Commercial…View ↗
Revenues from time charter contracts, which are accounted for as operating leases, are recognized on a straight-line basis over the…View ↗
In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage which may…View ↗
$393.8M
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10-K for FY2023, filed Mar 5, 2024
$393.8M ↗
Who Were Their Customers?
Customers include agricultural, mining, manufacturing and trading companies, along with smaller privately owned companies; they hire vessels through time or voyage charters.
10-K for FY2023, filed Mar 4, 2024Our customers include some of the world’s leading agricultural, mining, manufacturing and trading companies, as well as smaller, privately…View ↗
Time charter-out describes a contract for the use of a ship for an agreed period of time, at an agreed hire rate per day. Commercial…View ↗
In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage which may…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Mar 5, 2024
How Were They Changing?
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Apr 9, 2024
Eagle becomes a Star Bulk subsidiary and CEO Gary Vogel leaves
Each Eagle share converted into the right to receive Star Bulk shares.
Sources
8-K, filed Apr 9, 2024
As described above, on April 9, 2024, Merger Sub merged with and into Eagle. As a result of the Merger, Eagle became a wholly owned…View ↗
Grew. Revenue grew 35% in 4 years, from $292.4M in FY2019 to $393.8M in FY2023, about 8% a year.
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