SEC Company Response from Eagle Bulk Shipping Inc. (CIK 0001322439) — Jun 13, 2005
Eagle Bulk Shipping Inc. (CIK 0001322439)
Date: June 13, 2005 · CIK: 0001322439 · Accession: 0001047469-05-017104
AI Filing Summary & Sentiment
File numbers found in text: 333-123817
Referenced dates: June 6, 2005, May 31, 2005
Letter
Securities and Exchange Commission Division of Corporation Finance Registration Statement on Form S-1 Amendment No. 3 Filed June 6, 2005 File No. 333-123817
Re:
Dear Mr. Webb:
Further to my telephone conversation with Jeff Jaramillo of the Staff, enclosed is Exhibit 1 which was inadvertently omitted from my letter dated June 6, 2005 that accompanied Amendment No. 3 to the Registration Statement on Form S-1 filed by Eagle Bulk Shipping Inc. (the “Company”). Exhibit 1 relates to the Company’s response to comment 5 contained in the Staff’s comment letter dated May 31, 2005.
Please feel free to contact me at (212) 574-1223 or Robert Lustrin at (212) 574-1420 with any questions or comments.
Very
truly yours,
/s/
Gary J. Wolfe
Show Raw Text
CORRESP 1 filename1.htm (212) 574-1223 June 10, 2005 Max A. Webb, Esq. Securities and Exchange Commission Division of Corporation Finance 450 Fifth Street, N.W. Washington, D.C. 20549-0305 Re: Eagle Bulk Shipping Inc. Registration Statement on Form S-1 Amendment No. 3 Filed June 6, 2005 File No. 333-123817 Dear Mr. Webb: Further to my telephone conversation with Jeff Jaramillo of the Staff, enclosed is Exhibit 1 which was inadvertently omitted from my letter dated June 6, 2005 that accompanied Amendment No. 3 to the Registration Statement on Form S-1 filed by Eagle Bulk Shipping Inc. (the “Company”). Exhibit 1 relates to the Company’s response to comment 5 contained in the Staff’s comment letter dated May 31, 2005. Please feel free to contact me at (212) 574-1223 or Robert Lustrin at (212) 574-1420 with any questions or comments. Very truly yours, /s/ Gary J. Wolfe Gary J. Wolfe Enclosure cc: Jeff Jaramillo Exhibit 1 Eagle Bulk Shipping Inc. Comparison of Charter Rates vs. Market Rates Summary Shikra Kite Griffon Peregrine Sparrow Net Quarter 2005 Second Quarter 63,000 52,000 90,000 — — 205,000 Third Quarter 92,000 92,000 276,000 (184,000 ) (152,500 ) 123,500 Fourth Quarter 92,000 92,000 276,000 (184,000 ) (230,000 ) 46,000 2006 First Quarter 90,000 59,000 93,000 (180,000 ) (225,000 ) (163,000 ) Second Quarter 91,000 — — (182,000 ) (227,500 ) (318,500 ) Third Quarter — — — (184,000 ) (230,000 ) (414,000 ) Fourth Quarter — — — — (77,500 ) (77,500 ) Grand Total 428,000 295,000 735,000 (914,000 ) (1,142,500 ) (598,500 ) Vessel by Vessel Detail: Vessel Shikra Delivery 4/29/2005 Expiry 7/1/2006 Total Length 14 months Charter Market Excess #days Excess Rate Rate (Under) in month (Under) 2005 April 22,000 21,000 1,000 2 May 22,000 21,000 1,000 31 June 22,000 21,000 1,000 30 Total Quarter 63 63,000 July 22,000 21,000 1,000 31 August 22,000 21,000 1,000 31 September 22,000 21,000 1,000 30 Total Quarter 92 92,000 October 22,000 21,000 1,000 31 November 22,000 21,000 1,000 30 December 22,000 21,000 1,000 31 Total Quarter 92 92,000 2006 January 22,000 21,000 1,000 31 February 22,000 21,000 1,000 28 March 22,000 21,000 1,000 31 Total Quarter 90 90,000 April 22,000 21,000 1,000 30 May 22,000 21,000 1,000 31 June 22,000 21,000 1,000 30 Total Quarter 91 91,000 July August September Total Quarter October November December Total Quarter Grand Total 428 428,000 Vessel Kite Delivery 5/9/2005 Expiry 3/1/2006 Total Length 9.7 months Charter Market Excess #days Excess Rate Rate (Under) in quarter (Under) 2005 April 25,000 24,000 1,000 May 25,000 24,000 1,000 22 June 25,000 24,000 1,000 30 Total Quarter 52 52,000 July 25,000 24,000 1,000 31 August 25,000 24,000 1,000 31 September 25,000 24,000 1,000 30 Total Quarter 92 92,000 October 25,000 24,000 1,000 31 November 25,000 24,000 1,000 30 December 25,000 24,000 1,000 31 Total Quarter 92 92,000 2006 January 25,000 24,000 1,000 31 February 25,000 24,000 1,000 28 March 25,000 24,000 1,000 — Total Quarter 59 59,000 April May June Total Quarter July August September Total Quarter October November December Total Quarter Grand Total 295 295,000 2 Vessel Griffon Delivery 6/1/2005 Expiry 2/1/2006 Total Length 8 months Charter Market Excess #days Excess Rate Rate (Under) in quarter (Under) 2005 April May June 28,000 25,000 3,000 30 Total Quarter 30 90,000 July 28,000 25,000 3,000 31 August 28,000 25,000 3,000 31 September 28,000 25,000 3,000 30 Total Quarter 92 276,000 October 28,000 25,000 3,000 31 November 28,000 25,000 3,000 30 December 28,000 25,000 3,000 31 Total Quarter 92 276,000 2006 January 28,000 25,000 3,000 31 February 28,000 25,000 3,000 — March — — — — Total Quarter 31 93,000 April May June Total Quarter July August September Total Quarter October November December Total Quarter 245 735,000 3 Vessel Peregrine Est. Delivery 6/30/2005 Expiry 10/1/2006 Total Length 15 months Charter Market Excess #days Excess Rate Rate (Under) in quarter (Under) 2005 April May June Total Quarter 0 July 24,000 26,000 (2,000 ) 31 August 24,000 26,000 (2,000 ) 31 September 24,000 26,000 (2,000 ) 30 Total Quarter 92 (184,000 ) October 24,000 26,000 (2,000 ) 31 November 24,000 26,000 (2,000 ) 30 December 24,000 26,000 (2,000 ) 31 Total Quarter 92 (184,000 ) 2006 January 24,000 26,000 (2,000 ) 31 February 24,000 26,000 (2,000 ) 28 March 24,000 26,000 (2,000 ) 31 Total Quarter 90 (180,000 ) April 24,000 26,000 (2,000 ) 30 May 24,000 26,000 (2,000 ) 31 June 24,000 26,000 (2,000 ) 30 Total Quarter 91 (182,000 ) July 24,000 26,000 (2,000 ) 31 August 24,000 26,000 (2,000 ) 30 September 24,000 26,000 (2,000 ) 31 Total Quarter 92 (184,000 ) October November December Total Quarter 457 (914,000 ) 4 Vessel Sparrow Est. Delivery 7/31/2005 Expiry 11/1/2006 Total Length 15 months Charter Market Excess #days Excess Rate Rate (Under) in quarter (Under) 2005 April May June Total Quarter July August 22,500 25,000 (2,500 ) 31 September 22,500 25,000 (2,500 ) 30 Total Quarter 61 (152,500 ) October 22,500 25,000 (2,500 ) 31 November 22,500 25,000 (2,500 ) 30 December 22,500 25,000 (2,500 ) 31 Total Quarter 92 (230,000 ) 2006 January 22,500 25,000 (2,500 ) 31 February 22,500 25,000 (2,500 ) 28 March 22,500 25,000 (2,500 ) 31 Total Quarter 90 (225,000 ) April 22,500 25,000 (2,500 ) 30 May 22,500 25,000 (2,500 ) 31 June 22,500 25,000 (2,500 ) 30 Total Quarter 91 (227,500 ) July 22,500 25,000 (2,500 ) 31 August 22,500 25,000 (2,500 ) 30 September 22,500 25,000 (2,500 ) 31 Total Quarter 92 (230,000 ) October 22,500 25,000 (2,500 ) 31 November — — — December — — — Total Quarter 31 (77,500 ) 457 (1,142,500 ) 5