Eagle Bulk’s higher operating costs lead to deficit
Eagle Bulk reports a $3.5m loss in the first quarter of the year from a $29,000 profit in the same period in 2019 because of the lower freight-rate environment. The company said it was focusing on the health and welfare of its crew and employees amid the pandemic
Despite the loss, the company says it has outperformed the market, with a time charter equivalent of nearly $10,000 amid a 40% drop in the BSI
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