Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.Financial_Report.xls
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R6.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R2.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R3.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R5.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R4.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R8.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R1.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R7.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R36.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R40.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R16.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R13.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R39.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R34.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R14.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R21.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R33.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R29.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R22.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R32.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R23.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R18.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R31.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R26.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R37.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R19.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R15.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R24.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R17.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R11.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R25.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R30.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R28.htm
EX-31.2 - EX-31.2 - Eagle Bulk Shipping Inc.v326029_ex31-2.htm
EX-31.1 - EX-31.1 - Eagle Bulk Shipping Inc.v326029_ex31-1.htm
EX-32.1 - EX-32.1 - Eagle Bulk Shipping Inc.v326029_ex32-1.htm
EX-32.2 - EX-32.2 - Eagle Bulk Shipping Inc.v326029_ex32-2.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R27.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R38.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R10.htm
10-Q - 10-Q - Eagle Bulk Shipping Inc.v326029_10q.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R9.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R20.htm
XML - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.R12.htm
v2.4.0.6
Commitments and Contingencies (Details Textual) (USD $)
0 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended
Mar. 03, 2011
Jul. 31, 2011
Sep. 30, 2012
Sep. 30, 2012
Sep. 30, 2011
Jul. 28, 2011
Korea Line Corporation Protective Receivership, Description       Korea Line Corporation ("KLC"), one of our charterers, filed for protective receivership in Seoul, South Korea. On February 15, 2011, the Korean courts approved this request. The Company has temporarily taken back the employment of all affected chartered vessels and re-chartered them out on the spot and short-term time charter markets, pursuant to terms approved by the Korean court. Earnings during this interim period were used to offset the charter hire otherwise due from KLC.    
Korea Line Corporation Comprehensive Agreement, Description the Company reached a comprehensive agreement with the receivers of KLC regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership, which was certified by the joint receivers on March 15, 2011.     On October 14, 2011, following a vote by the interested creditors, the Korean court approved a Rehabilitation Plan, pursuant to which 37% of the Company's claim in respect of the period up to February 15, 2011 will be paid in cash installments from 2012 through 2021. The majority of the cash payment installments will be paid in the last five years, and the remaining 63% of the said claim will be converted to KLC stock. On July 2, 2012 the Company took possession of the KLC stock. The KLC stock is designated as Available for sale and is reported at fair value, with unrealized gains and losses recorded in shareholders' equity as a component of accumulated other comprehensive income. On September 30, 2012, KLC stock fair value was $135,886. The Company evaluated the KLC matter to make a determination as to the impact, if any, on our business, liquidity, results of operations, financial condition and cash flows, and recorded an initial allowance for bad debt in the first quarter of 2011 of $6,586,900, which was updated in the fourth quarter of 2011 to reflect the settlement on November 24, 2011. Accordingly, in the fourth quarter of 2011, the Company adjusted the allowance to $1,811,320, which reflects our recovery of $1,269,070 and write off of $3,506,510. As of September 30, 2012, KLC is not performing in accordance with the $17,000 per vessel per day shortfall arrangement and KLC owes the Company approximately $30.2 million. That revenue does not meet the Company's revenue recognition policy and is not included in the Company's financial statements. The Company will recognize that revenue and any future revenue from KLC when collectability is assured.    
Adjusted Chartered Rate Value (in dollars) $ 17,000         $ 13,500
Adjusted Chartered Rate Value Minimum (in dollars)       17,000    
Adjusted Chartered Rate Value Maximum (in dollars)       21,000    
Valuation of KLC Stock Fair Value (in dollars)     135,886 135,886    
Commitments and Contingencies Agreement, Description   Company entered into an agreement to charter-in a 37,000 dwt newbuilding Japanese vessel that is expected to be delivered between May and October 2014 for seven years with an option for an additional one year.        
Contingency Shareholder Derivative Lawsuits, Description     On June 13, 2011, a complaint against the Company's board of directors and a former director was filed in the United States District Court for the Southern District of New York alleging, among other things, that the directors breached their fiduciary duties of loyalty, good faith and care in connection with (i) director and officer compensation in the years 2008, 2009 and 2010; (ii) the Company's Management Agreement with Delphin Shipping LLC ("Delphin") (specifically, according to the complaint, alleging conflicts of interest between the Company's Chief Executive Officer, Delphin and the Company); and (iii) the adjournment of the Company's 2011 Annual Meeting of Shareholders. The complaint seeks rescission of director and officer compensation for those years as well as rescission of the Management Agreement, and seeks unspecified damages. This action is currently in discovery. On August 23, and August 30, 2011, respectively, two additional complaints were filed in the Supreme Court of the State of New York (New York County) against the Company's board of directors and a former director alleging substantially similar breaches of fiduciary duties as those alleged in the lawsuit filed on June 13, 2011. On January 10, 2012, a motion by the Company was granted, which stays these state court actions pending the outcome of the June 13, 2011 federal action. On October 31, 2011, a complaint was filed in the United States District Court for the Southern District of New York by one of the plaintiffs in the June 13, 2011 federal action against the Company and its board of directors alleging deficiencies in the Company's proxy statement in connection with its special meeting of shareholders that was held on November 17, 2011. The Company revised its proxy statement prior to the meeting, causing plaintiffs to withdraw a request for injunctive relief in connection with their complaint. The Company served an answer in this action on March 19, 2012.      
Management Fee, Amount Paid (in dollars)       10,312 9,655  
First To Seventh Year [Member]
           
Hire Rate Payable (in dollars)           13,500
Eighth Year [Member]
           
Hire Rate Payable (in dollars)           $ 13,750