Eagle Bulk Shipping Inc. Takes
Delivery of Gannet Bulker

34th Vessel Joins the Fleet With $19 Million
in Minimum Contracted Revenue


NEW YORK, Apr 29, 2010 (GlobeNewswire via COMTEX) --Eagle Bulk Shipping Inc. (Nasdaq:EGLE) today announced that it has taken delivery of the Gannet Bulker, a 58,000 dwt Supramax dry bulk vessel. The charter also includes profit sharing over $20,000 per day. In aggregate, the Gannet Bulker will contribute approximately $19 million in minimum contracted revenue.

About Eagle Bulk Shipping Inc.
Eagle Bulk Shipping, Inc., headquartered in New York City, is a leading global owner of Supramax dry bulk vessels, which are dry bulk vessels that range in size from 50,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.

Eagle Bulk Shipping Inc.