World News
Eagle Bulk Shipping Appoints New CEO
Marshall Islands-based Eagle Bulk Shipping has appointed current board member Stanley H. Ryan as its new CEO, the company announced Monday.
Ryan's appointment is effective as of March 6, 2015.
It was announced late last month that former CEO Sophocles N. Zoullas had resigned from his post.
"Stanley Ryan's global commodity expertise – earned over many productive years at Cargill – and strong commercial relationships will serve the Company well as we navigate ongoing challenges in the dry bulk market," said Chairman of the Board Paul M. Leand, Jr.
"At the same time, Eagle Bulk's experienced and deep team will continue to deliver operational excellence in a challenging market."
The dry bulk market has been struggling in recent months as freight rates have plummeted and the Baltic Dry Index (BDI) fell to its weakest levels in almost three decades.
Last month, it was reported that an unnamed Greek shipowner had described the market as "collapsing."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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