-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DR0mbzyZb7ee4WqKM/ZeYysl9wsDsOEdX1s4d5BbKuCoXdMRnOUDVj54NkpDN59y
 mvwSafbSasNzlh4fIM7YCQ==

<SEC-DOCUMENT>0000919574-05-002204.txt : 20050624
<SEC-HEADER>0000919574-05-002204.hdr.sgml : 20050624
<ACCEPTANCE-DATETIME>20050624213447
ACCESSION NUMBER:		0000919574-05-002204
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050623
FILED AS OF DATE:		20050624
DATE AS OF CHANGE:		20050624

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HILEY DAVID B
		CENTRAL INDEX KEY:			0001197869

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51366
		FILM NUMBER:		05916172

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9142327225

	MAIL ADDRESS:	
		STREET 1:		508 MT HOLLY ROAD
		CITY:			KATONAH
		STATE:			NY
		ZIP:			10536

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eagle Bulk Shipping Inc.
		CENTRAL INDEX KEY:			0001322439
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				980450435

	BUSINESS ADDRESS:	
		STREET 1:		29 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		212-785-2500

	MAIL ADDRESS:	
		STREET 1:		29 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>p582148_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-06-23</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001322439</issuerCik>
        <issuerName>Eagle Bulk Shipping Inc.</issuerName>
        <issuerTradingSymbol>EGLE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001197869</rptOwnerCik>
            <rptOwnerName>HILEY DAVID B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>63 OLD COACH ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW LONDON</rptOwnerCity>
            <rptOwnerState>NH</rptOwnerState>
            <rptOwnerZipCode>03257</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>55304</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Eagle Ventures LLC</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Eagle Ventures LLC is the owner of record of 12,750,000 shares of common stock of Eagle Bulk Shipping Inc. Mr. Hiley may be
 deemed to share beneficial ownership of shares of Common Stock owned of record by Eagle Ventures LLC by virtue of his status
 as a member of Eagle Ventures LLC. Mr. Hiley shares investment and voting power along with the other members of Eagle
 Ventures LLC with respect to securities owned by Eagle Ventures LLC, but disclaims beneficial ownership of such securities
 except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be
 deemed to be an admission that Mr. Hiley has beneficial ownership of such securities for purposes of Section 16 of the
 Securities Exchange Act of 1934, as amended, or for any other purposes.</footnote>
        <footnote id="F2">The shares of Common Stock included in this report are owned directly by Eagle Ventures LLC, but Mr. Hiley may be deemed to
 have a pecuniary interest in such shares by virtue of his common ownership interest in Eagle Ventures LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: /s/ David B. Hiley</signatureName>
        <signatureDate>2005-06-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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