We are initiating coverage of Eagle Bulk Shipping Inc., (NASDAQ: EGLE), a publicly-traded bulk shipping company. As of March 31st, 2010, EGLE was operating a modern fleet of 33 Supramax Dry Cargo Vessels. EGLE will report earnings for the quarter ended March 31st, 2010 after the closing of markets today May 6th, 2010.
We estimate that for the first quarter of 2010 EGLE generated Revenues (Net of Commissions) in the amount of $51,225,000.
We also estimate that the daily average TCE (Net of Commissions) for the same period was $19,575.
We estimate that for the first quarter of 2010 EGLE generated Revenues (Net of Commissions) in the amount of $51,225,000.
We also estimate that the daily average TCE (Net of Commissions) for the same period was $19,575.
