Filed Pursuant to Rule 424(b)(7)
                                                    Registration No. 333-135708

Prospectus Supplement
(to Prospectus dated July 11, 2006)




                            EAGLE BULK SHIPPING INC.
                         215,000 SHARES OF COMMON STOCK


     This Prospectus Supplement is related to 215,000 shares of our Common Stock
which may be sold from time to time by Portside Growth and Opportunity Fund.

     This Prospectus  Supplement  supplements  the information  contained in our
Prospectus dated July 11, 2006 (as amended or supplemented,  the  "Prospectus"),
relating to the  potential  sale from time to time of up to 2,750,000  shares of
Common  Stock of Eagle Bulk  Shipping  Inc. by certain of our  stockholders  who
acquired the shares in connection with a private placement completed on June 28,
2006.  This  Prospectus  Supplement  is not  complete  without,  and  may not be
delivered or utilized  except in connection  with, the  Prospectus.  Capitalized
terms used herein but not defined  have the  meanings  assigned to such terms in
the Prospectus.

     The following  information  supplements  the  information  set forth in the
Prospectus under the caption "Selling  Stockholders" with respect to the Selling
Stockholders, the number of Shares being offered by the Selling Stockholders and
the number and  percentage of shares of Common Stock  beneficially  owned by the
Selling  Stockholders  before and after the  offering of shares of Common  Stock
pursuant to the Prospectus:

                               Selling Stockholder

                                                Common             Percentage
Name of          Common Stock   Total Common    Stock to be        of Class
Selling          Owed Before    Stock Hereby    owned after the    owned after
Stockholder      Offering       Offered         Offering           the Offering
--------------------------------------------------------------------------------
Portside
Growth and
Opportunity
 Fund           215,000          215,000            0                  0%


             The date of this Prospectus Supplement is July 24, 2006




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