Eagle Bulk Shipping, Inc. (NasdaqGS:EGLE) is seeking acquisitions. Eagle Bulk Shipping said, "In addition to acquisitions that we may undertake in future periods, the Company's other major capital expenditures include funding the Company's maintenance program of regularly scheduled drydocking necessary to preserve the quality of our vessels as well as to comply with international shipping standards and environmental laws and regulations."

Eagle Bulk Shipping, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenue of $72,222,353 compared to $52,616,400 a year ago. Operating income was $24,802,062 compared to operating loss of $7,501,956 a year ago. Net income was $1,374,270 or $0.08 per basic and diluted share compared to net loss of $17,433,529 or $1.11 per basic and diluted share a year ago. EBITDA was $30,569,323 compared to $11,731,974 a year ago. EBITDA, as adjusted for exceptional items under the terms of the company's credit agreement, was $32.5 million for the first quarter of 2013, compared with $13.8 million for the first quarter of 2012. Net cash provided by operating activities was $1,248,839 against $2,653,413 a year ago. Vessels and vessel improvements and advances for vessel construction were $49,994 against $54,659 a year ago.

Eagle Bulk Shipping, Inc., Q1 2013 Earnings Call, May 16, 2013