Connecticut-based Eagle Bulk Shipping managed to squeeze out a profit in the second quarter that was better than prevailing index rates, but it is warning of significantly weaker hire rates in the current market.
The New York-listed owner of midsized dry tonnage reported adjusted net income of $16.7m or $1.21 per basic share on time charter revenue of $65m. That easily beat the consensus estimate of Wall Street analysts at $0.61
