Note 1 - General Information

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

Note

1.

   General Information:

The accompanying consolidated financial statements include the accounts of Eagle Bulk Shipping Inc. and its wholly-owned subsidiaries (collectively, the "Company,” “we” or “our” or similar terms). The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership, charter and operation of dry bulk vessels. The Company's fleet is comprised of Supramax and Ultramax bulk carriers and the Company operates its business in

one

business segment.

Each of the Company’s vessels serve the same type of customer, have similar operation and maintenance requirements, operate in the same regulatory environment, and are subject to similar economic characteristics.  Based on this, the Company has determined that it operates in

one

reportable segment, which is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. 

The Company is a holding company incorporated in

2005,

under the laws of the Republic of the Marshall Islands and is the sole owner of all of the outstanding shares of its wholly-owned subsidiaries formed in the Republic of the Marshall Islands. The primary activity of each of the subsidiaries is the ownership of a vessel. The operations of the vessels are managed by an indirectly wholly-owned subsidiary of the Company, Eagle Shipping International (USA) LLC, a Republic of the Marshall Islands limited liability company.

As of

December

31,

2016,

the Company owned and operated a modern fleet of

41

oceangoing vessels,

39

Supramax,

1

Ultramax and

1

Handymax, with a combined carrying capacity of

2,260,943

dwt and an average age of approximately

8.7

years. Additionally, the Company chartered in a

38,000

dwt new building beginning

October

2,

2014

for a period of

seven

years.

The following table represents certain information about the Company's charterers, which individually accounted for more than

10%

of the Company's gross charter revenue during the periods indicated: 

Percentage of Consolidated Charter Revenue

	Successor								Predecessor
	2016		2015			October 16, 2014 To December 31, 2014			January 1, 2014 To October 15, 2014
Charterer
Charterer A		-		-			-			10.5	%
Charterer B*		-		17.2	%		27.7	%		17.7	%

*Includes charter revenue from a pool in which the Company participated.