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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 XkNaiN2c/LRNqkyBgdgwgQ==

<SEC-DOCUMENT>0000919574-09-015629.txt : 20091007
<SEC-HEADER>0000919574-09-015629.hdr.sgml : 20091007
<ACCEPTANCE-DATETIME>20091007174003
ACCESSION NUMBER:		0000919574-09-015629
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091005
FILED AS OF DATE:		20091007
DATE AS OF CHANGE:		20091007

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ZOULLAS SOPHOCLES N
		CENTRAL INDEX KEY:			0001331245

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33831
		FILM NUMBER:		091110763

	MAIL ADDRESS:	
		STREET 1:		29 BROADWAY, SUITE 1610
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006

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
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		477 MADISON AVENUE
		STREET 2:		SUITE 1405
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-785-2500

	MAIL ADDRESS:	
		STREET 1:		477 MADISON AVENUE
		STREET 2:		SUITE 1405
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p1003528b_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-10-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001331245</rptOwnerCik>
            <rptOwnerName>ZOULLAS SOPHOCLES N</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>477 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2009-10-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>51450</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.69</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1594133</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents payment of exercise price or tax liability by delivering or withholding securities incident to the receipt,
 exercise or vesting of a security issued in accordance with Rule 16b-3 of the Securities Exchange Act of 1934.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sophocles N. Zoullas</signatureName>
        <signatureDate>2009-10-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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