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EXCEL - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.Financial_Report.xls
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v2.4.0.6
Debt (Details Textual) (USD $)
9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Jun. 19, 2012
Dec. 31, 2011
Sep. 30, 2012
Minimum [Member]
Sep. 30, 2012
Maximum [Member]
Sep. 30, 2012
Weighted Average [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
One Third [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Next Third [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Last Third [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Warrant [Member]
Jun. 20, 2012
Fourth Amended and Restated Credit Agreement [Member]
Warrant [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Commencing In Quarterly Period Ending September 30, 2013 [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Declining In Intervals Till Quarterly Period Ending December 31, 2015 [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Declining In Intervals Till Quarterly Period Ending March 31, 2017 Upon Extension of Termination Date [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Commencing In Quarterly Period Ending June 30, 2013 [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Commencing In Quarterly Period Ending September 30, 2014 [Member]
Jun. 20, 2012
Fourth Amended and Restated Credit Agreement [Member]
Pik Loans To Cumulative Convertible Preferred Stock [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Liquidity Facility [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Loans Payable [Member]
Sep. 30, 2012
Fourth Amended and Restated Credit Agreement [Member]
Line Of Credit Converted To Term Loan [Member]
Debt Conversion, Converted Instrument, Amount                                           $ 1,129,478,741
Debt Instrument, Maturity Date                                         Dec. 31, 2015  
Collateral Coverage Ratio To Be Maintained On Term Loan Maturity Date                                         less than 80%  
Debt Instrument Extended Maturity Date                                         Jun. 30, 2017  
Cash Balance Resulting In Mandatory Repayments Of Term Loan Principal               In excess of $20,000,000                            
Debt Instrument Initial Cash Margin                                         3.50%  
Debt Instrument Initial Paid In Kind Margin                                         2.50%  
Line of Credit Facility, Maximum Borrowing Capacity                                       20,000,000    
Par Value Per Share For Conversion Of Pik Loans Into Shares Of Cumulative Convertible Preferred Stock                                     $ 10      
Term loan 1,129,478,741     0                                    
Payment-in-kind loan 8,101,953     0                                    
Deferred Finance Costs, Net                                       12,624,330    
Portion Of Amendment Fees Paid Upon Signing Credit Agreement               50.00%                            
Portion Of Amendment Fees Payable Equally In Third Quarters Of 2012               25.00%                            
Portion Of Amendment Fees Payable Equally In Fourth Quarters Of 2012               25.00%                            
Maximum Leverage Ratio Of Term Loan Indebtedness To EBITDA To Be Maintained                           13.9:1 7.3:1 6.2:1            
Minimum interest coverage ratio of EBITDA to cash interest expenses                             220.00% 230.00% 130.00%          
Free Cash To Be Maintained With Agent Per Vessel               500,000                            
Maximum Collateral Coverage Ratio Of Term Loan Indebtedness To Ebitda To Be Maintained                             80.00% 70.00%   100.00%        
Convertible warrants issued on a cashless basis                       3,148,584                    
Class of Warrant or Right, Exercise Price of Warrants or Rights                         0.01                  
Warrants Exercisable Conditions                 Immediately When the price of the Company''s common stock reaches $10.00 per share When the price of the Company''s common stock reaches $12.00 per share                      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value                         $ 7,200,000                  
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price                       $ 2.98                    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate                       1.64%                    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate                       79.30%                    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term                       10 years                    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate                       0.00%                    
Debt Instrument, Interest Rate During Period         2.72% 8.73% 3.78%                              
Debt Instrument, Basis Spread on Variable Rate 3.50%   2.50%                                      
Interest Paid, Net $ 33,326,847 $ 33,465,717