Eagle Bulk Shipping Inc. Publishes 2022 ESG Sustainability Report
May 09 2022 - 6:47AM
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) (“Eagle Bulk”, “Eagle”, or
the “Company”), one of the world’s largest owner-operators within
the midsize drybulk segment, today announced the publication of its
third annual Environmental, Social, and Governance (ESG)
Sustainability Report.
The report, which has been prepared in accordance with the
Marine Transportation Framework established by the Sustainability
Accounting Standards Board (SASB), provides an overview of Eagle’s
strategic priorities and performance with respect to various
environmental, social, and governance-related matters.
Gary Vogel, Eagle Bulk’s CEO, commented, “Eagle Bulk advanced a
number of important ESG-related initiatives in 2021, which are
detailed in our report. We have embedded these initiatives across
our company, as demonstrated by the sustainability-linked targets
included in the new credit facility we entered into during the
fourth quarter of 2021, which allow the Company to decrease its
interest rate margin, subject to meeting fleet energy efficiency
targets and making investments in decarbonization initiatives. I’m
pleased to report that we have met these targets for 2021 and will
benefit from a decrease in our margin starting this June, which
will step down to 210 basis points over 3-month LIBOR.
Additionally, we improved our fuel efficiency profile by adding
nine modern vessels to our fleet and completed our first ever
sustainable biofuel voyage, sailing the M/V Sydney Eagle across the
Atlantic and reducing the vessel’s net well-to-wake CO2 emissions
by ~90% during the voyage.
From a Social perspective, our top priority has been to ensure
the health and safety of our employees, both onshore and onboard
our vessels. COVID-19 continued to impact our business in 2021. We
have had some colleagues deal with illness personally, while others
had to cater to family being impacted at home.
More recently, the tragic events taking place in Ukraine have
significantly impacted our Ukrainian seafarers, and we are doing
what we can to ensure their safety and well-being by providing
assistance with temporary housing, transportation, and other
needs.”
Eagle’s ESG Sustainability Report can be accessed on the
Company’s website at www.eagleships.com/ESG.
CONTACT
Company Contact:Frank De CostanzoChief Financial
OfficerEagle Bulk Shipping Inc.Tel. +1 203-276-8100Email:
investor@eagleships.com
Media:Rose and CompanyTel. +1 212-359-2228
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