8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 27, 2008 (March 25, 2008)

Eagle Bulk Shipping Inc.

(Exact Name of Registrant as Specified in its Charter)

Republic of the Marshall Islands

(State or Other Jurisdiction of Incorporation)

000-51366 (Commission File Number)	98-0453513 (I.R.S. Employer Identification No.)
477 Madison Avenue New York, New York (Address of Principal Executive Offices)	10022 (Zip Code)

(212) 785-2500
(Registrant’s telephone number, including area code)

None
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Amendment to Extend Term of CEO Employment Agreement

On March 25, 2008, the employment agreement, dated March 1, 2005, by and among Eagle Shipping International USA (LLC) and Sophocles Zoullas, chief executive officer and chairman of the board of directors of Eagle Bulk Shipping Inc., was amended to extend the expiration of the term of the agreement by three months to June 1, 2008.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
10.1	Amendment to Employment Agreement

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EAGLE BULK SHIPPING INC.
By:	/s/ Alan S. Ginsberg
Name:	Alan S. Ginsberg
Title:	Chief Financial Officer

Date: March 27, 2008

3

EXHIBIT INDEX

Exhibit No.	Description
10.1	Amendment to Employment Agreement

4

EX-10.1

Exhibit 10.1

AMENDMENT TO EMPLOYMENT AGREEMENT

The Employment Agreement dated March 1, 2005, by and among Eagle Shipping International (USA) LLC (the “Company”), Sophocles Zoullas (the “Executive”) and Eagle Ventures, LLC (the “Agreement”), is hereby amended (“Amendment”) on this 25th day of March, 2008.

WHEREAS, Section 2 of the Agreement provides that its term shall continue until the third anniversary of the date of such agreement, and that the Company and the Executive may extend the term of such agreement by mutual written agreement; and

WHEREAS, the Company and the Executive desire to extend Agreement for a three month period, until June 1, 2008.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained in the Agreement and in this Amendment, the Company and the Executive agree as follows:

1. The Company and the Executive hereby amend Section 2 of the Agreement, effective as of the date hereof, to read as follows:

“2. Term. The term of this Agreement shall commence as of the date of this Agreement and shall continue until June 1, 2008, unless otherwise terminated in accordance with the terms hereof (such period, or such shorter period if this Agreement or the Executive’s employment with the Company is terminated earlier in accordance with the terms hereof, shall be referred to as the “Term”). The Company and the Executive may extend the Term of this Agreement by mutual written agreement.”

This Amendment has been executed by the parties as of the date first above written.

Company:
Eagle Shipping International (USA) LLC
By:	/s/ Alan Ginsberg
Name:	Alan Ginsberg
Title:	Chief Financial Officer

Executive:

/s/ Sophocoles Zoullas

Sophocles Zoullas