When Gary Vogel leaves work at Eagle Bulk Shipping to be installed as the Connecticut Maritime Association (CMA)'s next commodore, it will be a short commute indeed.
Upon his hire in 2015 as Eagle chief executive, Vogel decided a move of the company's headquarters was one of the first priorities.
"Apart from realising significant savings on rent, we wanted to move our office to a location where we would have greater success at attracting top commercial talent," Vogel told TradeWinds after he got word on Thursday that he will receive the CMA's top honour.
"Fairfield County [Connecticut] has been the centre of dry bulk shipping for the US market since the 1990s and was the obvious choice for us to establish Eagle's new home and be able to grow the business. And sitting here today, I have no doubt we made the right decision."
When Vogel says "sitting here today", he speaks from a perch about 100 yards from the Hilton Stamford Hotel, where he will be honoured on 31 March as the successor to International Seaways chief executive Lois Zabrocky.
"As a Connecticut local, Gary has been a strong advocate for the CMA and its important mission to build and sustain a vibrant shipping community for our region at large," said association president Chris Aversano in announcing the award.
Transformation
Vogel is a veteran of more than 30 years in dry bulk and has orchestrated a transformation of New York-listed Eagle that goes well beyond the relocation of its offices.
Upon taking the reins from Sophocles Zoullas, Vogel quickly encountered a dire rates climate for dry bulk that required a reorganisation of the company's finances.
Eagle survived that period and has grown to be one of the world's largest owners of midsize tonnage in the ultramax and supramax sectors. It was one of the chief beneficiaries of the dry bulk boom market of 2021 and instituted a substantial shareholder dividend last autumn.
The CMA has honoured shipowners from across the globe with its trademark award over the past three decades, and in several instances, it has been a leader who has contributed to the maritime cluster in the Stamford area.
"While I am from New York, I have essentially spent my entire career in Connecticut," Vogel told TradeWinds.
"I remember going to CMA luncheons at Manero's in Greenwich as a shipbroker trainee.
"So, fast-forwarding many years later, it is particularly gratifying to be recognised by that same organisation, which has been most responsible for fostering growth and support for the local maritime community and shipping in the US at large."
