New York-listed Eagle watched its stock climb14.55% to $3.69 in the hour leading up to the closing bell as trading volumehit 1.13 million.
Industry observers are attributing today’sgain on renewed confidence in the dry-bulk segment and the strengthening of theBaltic Dry Index (BDI).
While freight rates tied to tonnagetrading in the spot market are well above levels recorded 12 months ago manyresearchers continue to believe Eagle Bulk is a candidate for bankruptcy.
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