GlobeNewswire Inc | Dec 22, 2020 08:12AM EST

December 22, 2020

STAMFORD, Conn., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NASDAQ: EGLE) (Eagle Bulk, Eagle or the Company), one of the worlds largest owner-operators within the Supramax / Ultramax drybulk segment, today announced that it has become a signatory to the Sea Cargo Charter (the Charter).

The Charter, which was launched in October 2020, provides a global framework for aligning chartering activities with responsible environmental behavior in order to promote international shippings decarbonization. The Charter is consistent with the International Maritime Organizations (IMO) ambition for greenhouse gas (GHG) emissions from international shipping to peak as soon as possible and to reduce by at least 50% by 2050 compared to 2008 levels.

Gary Vogel, Eagle Bulks CEO, commented, In a continuation of our efforts to help drive transparency to emissions reporting and decarbonization within shipping, we are excited to join the Sea Cargo Charter. We believe the Charter, along with other global green initiatives we are involved with, including Poseidon Principles and the Getting to Zero Coalition, will help our industry reach IMO 2030 and IMO 2050 emissions reduction targets. At Eagle, we continue to execute on both strategic and operational efficiency initiatives in order to improve our carbon footprint, such as: fleet renewal, installing energy saving devices, applying low friction hull coatings, and leveraging data to optimize voyage execution.

For more information on the Sea Cargo Charter, please go to: www.seacargocharter.org

For information on Eagles ESG strategy, please go to: www.eagleships.com/esg/

CONTACT

Company Contact:Frank De CostanzoChief Financial OfficerEagle Bulk Shipping Inc.Tel. +1 203-276-8100Email:investor@eagleships.com

Media:Rose and CompanyTel. +1 212-359-2228