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EGLE Eagle Bulk Shipping

Eagle Bulk Shipping Inc. is a U.S. based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Eagle focuses exclusively on the versatile mid-size drybulk vessel segment and owns one of the largest fleets of Supramax/Ultramax vessels in the world. The Company performs all management services in-house (including: strategic, commercial, operational, technical, and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis.

Company profile

Ticker
EGLE, EGKPF
Exchange
CEO
Gary Vogel
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Eagle Shipping LLC • Eagle Bulk Management LLC • Eagle Shipping International (USA) LLC • Eagle Ship Management LLC • Eagle Bulk Pte. Ltd. • Eagle Bulk Holdco LLC • Eagle Bulk Shipco LLC • Eagle Bulk Ultraco LLC • Eagle Bulk Delaware LLC • Eagle Bulk Europe A/S ...
IRS number
980450435

EGLE stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 Aug 21
23 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 83.8M 83.8M 83.8M 83.8M 83.8M 83.8M
Cash burn (monthly) (positive/no burn) 1.23M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 4.69M n/a n/a n/a n/a
Cash remaining n/a 79.11M n/a n/a n/a n/a
Runway (months of cash) n/a 64.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Sep 21 Gary Vogel Common Stock Grant Acquire A No No 0 8,937 0 164,049
3 Sep 21 De Costanzo Frank Common Stock Grant Acquire A No No 0 4,269 0 42,481
2 Jul 21 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.87 38,775 1.74M 24,310
2 Jul 21 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.87 432,272 19.4M 0
2 Jul 21 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.87 219,761 9.86M 123,800
2 Jul 21 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.87 1,084,467 48.66M 603,445
2 Jul 21 Goldentree Asset Management Common Stock, par value $0.01 per share ("Common Stock") Sell Dispose S Yes No 44.87 174,184 7.82M 96,925
23 Jun 21 Gary Vogel Common Stock Payment of exercise Dispose F No No 53.1 2,991 158.82K 155,112
23 Jun 21 Gary Vogel Common Stock Payment of exercise Dispose F No No 53.1 8,463 449.39K 158,103
23 Jun 21 Gary Vogel Common Stock Option exercise Acquire M No No 29.96 15,000 449.4K 166,566

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

78.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 94 69 +36.2%
Opened positions 36 30 +20.0%
Closed positions 11 7 +57.1%
Increased positions 35 16 +118.8%
Reduced positions 18 15 +20.0%
13F shares
Current Prev Q Change
Total value 581.72M 949.34M -38.7%
Total shares 10.59M 10.07M +5.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Oaktree Capital Management 3.78M $178.94M -2.7%
Goldentree Asset Management 1.09M $51.64M -64.0%
BLK Blackrock 649.92K $30.76M +11.2%
Maven Securities 582.34K $27.66M NEW
Vanguard 530.24K $25.09M +13.7%
FMR 422.02K $19.97M +343.4%
STT State Street 286.42K $13.55M +176.6%
Dimensional Fund Advisors 256.73K $12.15M -2.3%
Ghisallo Capital Management 200K $9.46M NEW
MS Morgan Stanley 197.81K $9.36M -30.9%
Largest transactions
Shares Bought/sold Change
Goldentree Asset Management 1.09M -1.95M -64.0%
Maven Securities 582.34K +582.34K NEW
FMR 422.02K +326.85K +343.4%
Ghisallo Capital Management 200K +200K NEW
STT State Street 286.42K +182.87K +176.6%
IVZ Invesco 129.54K +116.44K +888.7%
Millennium Management 108.47K +108.47K NEW
Oaktree Capital Management 3.78M -105.66K -2.7%
SG Americas Securities 105.43K +105.43K NEW
Two Sigma Investments 162.85K +104.44K +178.8%

Financial report summary

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Risks
  • Industry Specific Risk Factors
  • The global economic environment may have a material adverse effect on our business.
  • Changes in the economic and political environment in China, including as a result of COVID-19, which was first identified in Wuhan, Hubei Province, China, and policies adopted by the Chinese government to regulate its economy may have a material adverse effect on our business.
  • A decrease in the level of China’s export of goods or an increase in trade protectionism globally or by certain countries could have a material adverse impact on our charterers’ business and, in turn, could cause a material adverse impact on our results of operations, financial condition and cash flows.
  • Charter rates for dry bulk vessels are volatile and may remain at low levels or further decrease in the future, which may adversely affect our earnings, revenue and profitability and our ability to comply with our loan covenants.
  • Our operating results will be subject to seasonal fluctuations, which could affect our operating results.
  • An over-supply of drybulk carrier capacity across the industry may depress the charter rates, which may limit our ability to operate our drybulk carriers profitably.
  • The market values of our vessels are volatile and may decline which could limit the amount of funds that we can borrow or cause us to breach certain financial covenants under our credit facilities or bond terms.
  • Declines in charter rates and vessel values could cause us to incur impairment charges.
  • The instability of the euro or the inability of countries to refinance their debts could have a material adverse effect on our revenue, profitability and financial position.
  • Fuel cost, or bunker prices, may adversely affect profits.
  • Compliance with safety and other vessel requirements imposed by classification societies may be very costly and may adversely affect our business.
  • We are subject to complex laws and regulations, including environmental regulations that can adversely affect the cost, manner or feasibility of doing business.
  • World events could affect our operations and financial results.
  • If our vessels call on ports located in countries or territories that are subject to comprehensive sanctions imposed by the UN, the United States, the EU or other relevant authorities, or if we are found to be in violation of sanctions, there could be an adverse effect on our reputation, business position, financial condition or results of operations, or the market for our common shares
  • Increased inspection procedures and tighter import and export controls could increase costs and disrupt our business.
  • Arrests of our vessels by maritime claimants could cause a significant loss of earnings for the related off-hire period.
  • Risks associated with operating ocean-going vessels could affect our business and reputation, which could adversely affect our revenues and stock price.
  • Our business has inherent operational risks, which may not be adequately covered by insurance.
  • Governments could requisition our vessels during a period of war or emergency, resulting in a loss of earnings.
  • Failure to comply with the FCPA or other applicable anti-corruption laws could result in fines, criminal penalties, and an adverse effect on our business.
  • Cyber-attacks or other security breaches involving our computer systems or the systems of one or more of our vendors could materially and adversely affect our business.
  • The state of the global financial markets may adversely impact our ability to obtain additional financing, including the refinancing of our existing credit facilities and bond terms, on acceptable terms, restricting us from being able to operate or expand our business.
  • If general economic conditions throughout the world deteriorate, including as a result of COVID-19, it will impede our results of operations, financial condition and cash flows, and could impair our ability to access capital markets at a reasonable cost.
  • Utilizing derivative instruments, such as forward freight, bunker and interest rate swap agreements, could result in losses.
  • Our revolver facilities under the New Ultraco Debt Facility and the Super Senior Facility expose us to interest rate risk.
  • The interest rates under our credit facilities and our interest rate swaps may be impacted by the phase-out of LIBOR
  • We may have difficulty managing our planned growth properly and integrating newly acquired vessels.
  • Purchasing and operating secondhand vessels may result in increased operating costs and reduced fleet utilization.
  • We are subject to certain risks with respect to our counterparties on contracts, and failure of such counterparties to meet their obligations could cause us to suffer losses or otherwise adversely affect our business.
  • The loss of one or more of our significant customers may affect our financial performance.
  • In the highly competitive international shipping industry, we may not be able to compete for charters with new entrants or established companies with greater resources, and as a result, we may be unable to employ our vessels profitably.
  • We may be unable to attract and retain key management personnel and other employees in the shipping industry, which may negatively impact the effectiveness of our management and results of operations.
  • The aging of our fleet may result in increased operating costs in the future, which could adversely affect our earnings.
  • Technological innovation could reduce our charter hire income and the value of our vessels.
  • We may be subject to litigation that, if not resolved in our favor and not sufficiently insured against, could have a material adverse effect on us.
  • We may have to pay tax on United States source income, which will reduce our earnings.
  • United States tax authorities could treat us as a "passive foreign investment company," which could have adverse United States federal income tax consequences to United States holders.
  • We may be subject to additional taxes, including as a result of challenges by tax authorities or changes in applicable law, which could adversely impact our business and financial results.
  • We are a holding company, and we depend on the ability of our subsidiaries to distribute funds to us in order to satisfy our financial obligations and to make dividend payments.
  • As we expand our business, we may need to improve our operating and financial systems and will need to recruit suitable employees and crew for our vessels.
  • We conduct business in China, where the legal system has inherent uncertainties that could limit the legal protections available to us.
  • Risks Relating to Our Common Stock
  • We are incorporated in the Marshall Islands, which does not have a well-developed body of corporate law.
  • The market price of our common shares has fluctuated and may continue to fluctuate in the future.
  • The public market for our common shares may not be active and liquid enough for you to resell our common shares in the future.
  • Certain shareholders own large portions of our outstanding common stock, which may limit other shareholders' ability to influence our actions.
  • Our shareholders are limited in their ability to elect or remove directors.
  • Our shareholders may take action only at Annual or Special Meetings.
  • Our shareholders are subject to advance notice requirements for shareholder proposals and director nominations
  • Certain super majority provisions in our organizational documents may discourage, delay or prevent changes to such documents.
  • Our Third Amended and Restated Articles of Incorporation provide that the U.S. federal courts located in the Southern District of New York or, if such courts lack jurisdiction, the state courts of the State of New York, shall be the sole and exclusive forum for certain disputes between us and our shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
Content analysis
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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: ATM, broker, fewer, open, sharp, tax, Tern
Removed: calendar, declined, month, pledged