Eagle Bulk Shipping has agreed to pay $1.1m to the US government to settle its potential civil liability for trading with a banned Burmese national.
The infractions took place while operating under the company's previous management team between 2011 and 2014.
Eagle Bulk's current management mitigated prospects of a larger penalty by detecting and reporting the violation, cooperating with investigators and setting in place remedial programmes to prevent recurrences, according to a statement today from the US Department of the Treasury's Office of Foreign Assets Control (Ofac).
