UBS Securities LLC
Bear, Stearns & Co. Inc.
Citigroup Global Markets Inc.
c/o UBS Securities LLC
299 Park Avenue
New York, New York 10171-0026

                                           June 17, 2005

Max A. Webb
Securities and Exchange Commission 450 Fifth Street, N.W.
Washington, DC 20549


         Re:  Registration Statement No. 333-123817
              Registration Statement on Form S-1 of Eagle Bulk Shipping Inc.

Dear Ladies and Gentlemen:

     Pursuant  to Rule 461 under the  Securities  Act of 1933,  as amended  (the
"Securities Act"), the undersigned, UBS Securities LLC, Bear, Stearns & Co. Inc.
and  Citigroup  Global  Markets  Inc.,  as the  representatives  of the  several
underwriters   (the   "Representatives")   of  the  offering   pursuant  to  the
above-captioned   Registration   Statement   on  Form  S-1  (the   "Registration
Statement"),  hereby join in the request of Eagle Bulk  Shipping  Inc.  that the
effective  time  of the  Registration  Statement  be  accelerated  so  that  the
Registration Statement becomes effective at 3:00 p.m., Eastern Standard Time, on
June 21, 2005 or as soon thereafter as practicable.

     In connection with this acceleration request and pursuant to Rule 460 under
the  Securities  Act, the following  information is provided with respect to the
distribution to date of the preliminary  prospectus included in the Registration
Statement filed with the Commission on June 6, 2005:

     To Whom Distributed                       Number of Copie L
     -------------------                       ----------------
     Institutions                              3,122 (to 1,873 Institutions)
     Prospective Underwriters                  22,500 (to 4 Institutions)
     Other                                     0
     Total                                     22,500

     With respect to Rule 15c2-8 under the  Securities  Exchange Act of 1934, as
amended,  we wish to advise  the  Commission  that the  Representatives  and the
underwriters  have  distributed  or will  distribute  copies of the  preliminary
prospectus  at  least  48 hours  prior  to the  date  confirmations  of sale are
expected to be mailed.

     The Commission is advised that the amount of  compensation to be allowed or
paid to the  underwriters in connection with the offering and to be disclosed in
the  Registration  Statement,  as  amended,  will not exceed the amount  that is
cleared with the NASD.  Furthermore,  the "No  Objections"  letter from the NASD
with respect to the offering pursuant to the Registration  Statement is pending.
The  Representatives  will provide a copy of the "No  Objections"  letter and/or
verbal confirmation to the Commission as soon as possible, but no later than the
requested effective time.

                                           Sincerely,


                                           UBS SECURITIES LLC


                                           By:  /s/ Simon Smith
                                                -----------------------------
                                                Simon Smith
                                                Executive Director

                                           BEAR, STEARNS & CO. INC.


                                           By:  /s/ Stephen Parish
                                                -----------------------------
                                                Stephen Parish
                                                Senior Managing Director


                                           CITIGROUP GLOBAL MARKETS INC.


                                           By:  /s/ Stephen Butkow
                                                -----------------------------
                                                Stephen Butkow
                                                Vice President