Eagle Bulk Shipping has varied from its usual strategy of hedging through freight derivatives by booking a rare physical time charter.
New York-listed Eagle Bulk has fixed out the 63,301-dwt Madison Eagle (built 2013) for a minimum of 12 months at $32,000 per day, yielding $9m in Ebitda into the second quarter of 2023, chief executive Gary Vogel told analysts on the owner’s quarterly earnings call on Friday.
