DALLAS, Jan. 28, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Eagle Bulk Shipping Inc. (Nasdaq:EGLE). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Eagle Bulk Shipping Inc. (EGLE) is engaged primarily in the ocean transportation of a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. It operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels. The Company owns a fleet of Supramax dry bulk vessels, which range in size from 50,000 to 60,000 deadweight tons (dwt). These vessels have the cargo loading and unloading flexibility of on-board cranes while offering cargo carrying capacities approaching that of Panamax dry bulk vessels, which range in size from 60,000 to 100,000 dwt and port facilities to load and offload their cargoes.
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In the report, the analyst notes:
"EGLE called its exposure to current KLC accounts receivable "modest," saying that the vast majority of its charters with KLC are fixed at close to current market rates. EGLE said none of its charters with KLC have been restructured to date.
"A day after KLC's bankruptcy weighed down on the dry bulk operator's stock, FBR Capital upgraded EGLE to Outperform from Market Perform on expectations that smaller vessels will outperform the larger ones, and stated that the sell-off from the Company's exposure to KLC is overdone."
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