During the second quarter of 2013, Eagle Bulk Shipping (EGLE) was issued 538,751 shares of Korea Line Corporation (KLC), as part of its final settlement with the beleaguered Korean charterer. I estimate that EGLE will report a one-time settlement gain of $26,400,000 or $1.56 per share to reflect the incremental gain from the issuance of the above shares.
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