<HTML>
       <HEAD>
       <TITLE> </TITLE>
       </HEAD>
       <BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>

       <div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>As filed with the Securities and Exchange Commission on August 13, 200</font><font size=2>7</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="559" style='border-collapse:collapse'>
    <tr >
        <td width="427" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="132" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0in'><font size=2>Registration No. 333-&nbsp;&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr >
        <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p> </td> </tr>
    <tr >
        <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Washington, D.C. 20549</font></b></p> </td> </tr>
    <tr >
        <td width="277" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="174" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="265" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>FORM S-8</font></B></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><B><font SIZE=2>REGISTRATION STATEMENT</font></B></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><i><b><font size=2>Under</font></b></i></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><i><b><font size=2>The Securities Act of 1933</font></b></i></p> </td> </tr>
    <tr >
        <td width="277" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="174" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="265" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:15.25pt'>
        <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:15.25pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Eagle Bulk Shipping Inc.</font></b></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=1>(Exact Name of Registrant as Specified in Its Charter)</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr >
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><u><b><font size=2>Republic of the Marshall Islands</font></b></u></p> </td>
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><u><b><font size=2>4412</font></b></u></p> </td>
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><u><b><font size=2>98-0453513</font></b></u></p> </td> </tr>
    <tr >
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>(State or other jurisdiction of incorporation or organization)</font></p> </td>
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>(Primary Standard Industrial Classification Code Number)</font></p> </td>
        <td width="239" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>(I.R.S. Employer Identification No.)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Eagle Bulk Shipping Inc.</font></b></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Alan S. Ginsberg</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>477 Madison Avenue</font></b></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Chief Financial Officer</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>New York, New York 10022</font></b></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Eagle Bulk Shipping Inc.</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>477 Madison Avenue</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>New York, New York 10022</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>(212) 785-2500</font></b></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>(Address and telephone number of</font></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>Registrant&#146;s principal executive offices)</font></p> </td>
        <td width="187" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="199" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>(Name, address and telephone number</font></p>
<p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>of agent for service)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr >
        <td width="734" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=2>Eagle Bulk Shipping Inc. 2005 Stock Incentive Plan</font></b></p> </td> </tr>
    <tr >
        <td width="734" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>(Full Title of the Plan)</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>Copies to:</font></b></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="586" style='border-collapse:collapse'>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Stacy J. Kanter, Esq.</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Gary J. Wolfe, Esq.</font></b></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Skadden, Arps, Slate, Meagher &amp; Flom LLP</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Seward &amp; Kissel LLP</font></b></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>Four Times Square</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>One Battery Park Plaza</font></b></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>New York, New York 10036</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>New York, New York 10004</font></b></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>(212) 735-3000 (telephone number)</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>(212) 574-1200 (telephone number)</font></b></p> </td> </tr>
    <tr >
        <td width="302" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>(212) 735-2000 (facsimile number)</font></b></p> </td>
        <td width="283" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt'><b><font size=2>(212) 480-8421 (facsimile number)</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;line-height:95.83333%;'><B><font SIZE=2>CALCULATION OF REGISTRATION FEE </font></B></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="654" style='border-collapse:collapse'>
    <tr >
        <td width="201" valign=bottom style='border-top:double black 2.55pt; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>Title of Securities</font></b><br> <b><font size=1>To Be Registered </font></b></p> </td>
        <td width="105" valign=bottom style='border-top:double black 2.55pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>Amount To Be</font></b><br> <b><font size=1>Registered (1)</font></b></p> </td>
        <td width="116" valign=bottom style='border-top:double black 2.55pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>Proposed Maximum Offering Price</font></b><br> <b><font size=1>Per Share (2)</font></b></p> </td>
        <td width="140" valign=bottom style='border-top:double black 2.55pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>Proposed Maximum Aggregate Offering Price</font></b></p> </td>
        <td width="93" valign=bottom style='border-top:double black 2.55pt; border-left:solid black 1.0pt;border-bottom:none;border-right:none;  '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><b><font size=1>Amount Of Registration Fee</font></b></p> </td> </tr>
    <tr >
        <td width="201" valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.55pt;border-right:none;  '>
            <p style='margin-left:0pt;text-indent:.2pt;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>Common Stock, par value $0.01 per share</font></p> </td>
        <td width="105" valign=bottom style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.55pt; border-right:none; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>2,600,000 shares</font></p> </td>
        <td width="116" valign=bottom style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.55pt; border-right:none; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>$23.59</font></p> </td>
        <td width="140" valign=bottom style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.55pt; border-right:none; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>$61,334,000</font></p> </td>
        <td width="93" valign=bottom style='border-top:solid black 1.0pt; border-left:solid black 1.0pt;border-bottom:double black 2.55pt; border-right:none; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt;line-height:102.6%'><font size=1>$1,883</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;line-height:95.83333%;'><font size=2>(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, the number of shares of common stock registered hereby is subject to adjustment to prevent dilution by reason of any stock dividend, stock split, recapitalization or other similar transaction that results in an increase in the number of shares of our outstanding common stock.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;line-height:95.83333%;'><font size=2>(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and (h) under the Securities Act of 1933, as amended on the basis of the average of the high and low sale prices for a share of common stock of Eagle Bulk Shipping, Inc. as reported on the NASDAQ Global Select Market on</font><b><font size=2> </font></b><font size=2>August 6, 2007.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>PART I</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS</font></b></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>(a) The documents constituting Part I of this Registration Statement will be sent or given by Eagle Bulk Shipping Inc. (&#147;Eagle Bulk Shipping&#148; or the &#147;Company&#148;) to participants in the Eagle Bulk Shipping Inc. 2005 Stock Incentive Plan as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The Part I Information is not filed with the Securities and Exchange Commission (the &#147;SEC&#148;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>(b) Upon written or oral request, the Company will provide, without charge, the documents incorporated by reference in Item 3 of Part II of this Registration Statement. The documents are incorporated by reference in the Section 10(a) prospectus. The Company will also provide, without charge, upon written or oral request, other documents required to be delivered to employees pursuant to Rule 428(b) under the Securities Act. Requests for the above-mentioned information should be directed to Alan S. Ginsberg at the address and telephone number on the cover of this Registration Statement.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>PART II</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></B></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="356" style='border-collapse:collapse'>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 3.</font></b></p> </td>
        <td width="284" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Incorporation of Documents by Reference</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>The following documents filed by the Company with the SEC pursuant to the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or the Securities Act are hereby incorporated by reference into this Registration Statement:</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>(a) The Company&#146;s Annual Report on form 10-K for the period ended December 31, 2006 filed with the SEC on February 28, 2007;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Company's Form 10-K referred to in (a) above (other than information contained in Current Reports on Form 8-K that are furnished, but not filed); and</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>(c) The &#147;Description of the Capital Stock&#148; contained in the Company&#146;s registration statement on Form 8-A (File No.&nbsp;000-51366) as amended, filed with the SEC on June 20, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.56in;text-align:left;'><font size=2>All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.56in;text-align:left;'><font size=2>Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified, superseded or replaced by a statement or information contained in any other subsequently filed document incorporated herein by reference. Any such statement so modified, superseded or replaced shall not be deemed, except as so modified, superseded or replaced, to constitute a part of this Registration Statement.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="245" style='border-collapse:collapse'>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 4.</font></b></p> </td>
        <td width="173" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Description of Securities</font></b></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="144" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="96" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p  style='margin-top:0in'><font size=2>Inapplicable.</font></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="347" style='border-collapse:collapse'>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 5.</font></b></p> </td>
        <td width="275" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Interests of Named Experts and Counsel</font></b></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="144" style='border-collapse:collapse'>
    <tr >
        <td width="48" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p ><font size=1>&nbsp;</font></p> </td>
        <td width="96" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p  style='margin-top:0in'><font size=2>Inapplicable.</font></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="353" style='border-collapse:collapse; '>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 6.</font></b></p> </td>
        <td width="281" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Indemnification of Directors and Officers</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.56in;text-align:left;'><font size=2>The bylaws of the Company provide that every director and officer of the Company shall be indemnified out of the funds of the Registrant against: </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(1) all civil liabilities, loss, damage or expense (including but not limited to liabilities under contract, tort and statute or any applicable foreign law or regulation and all reasonable legal and other costs and expenses properly payable) incurred or suffered by him as such director or officer acting in the reasonable belief that he has been so appointed or elected notwithstanding any defect in such appointment or election, provided always that such indemnity shall not extend to any matter which would render it void pursuant to any Marshall Islands statute from time to time in force concerning companies insofar as the same applies to the Registrant (the &#147;Companies Acts&#148;); and </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(2) all liabilities incurred by him as such director or officer in defending any proceedings, whether civil or criminal, in which judgment is given in his favor, or in which he is acquitted, or in connection with any application under the Companies Acts in which relief from liability is granted to him by the court. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.57in;text-align:left;'><font size=2>Section 60 of the Associations Law of the Republic of the Marshall Islands provides as follows: Indemnification of directors and officers. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(1) Actions not by or in right of the corporation. A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonable believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceedings, had reasonable cause to believe that his conduct was unlawful.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(2) Actions by or in right of the corporation. A corporation shall have the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
<HR noshade align="center" width="100%" size="2">
<!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in;text-align:left;'><font size=2>reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not, opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claims, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(3) When director or officer successful. To the extent that a director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (1) or (2) of this section, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by him in connection therewith. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(4) Payment of expenses in advance. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized in this section. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(5) Continuation of indemnification. The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person. </font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; margin-left:0.5in; text-indent:0.31in;text-align:left;'><font size=2>(6) Insurance. A corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of this section.</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="339" style='border-collapse:collapse'>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 7.</font></b></p> </td>
        <td width="267" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Exemption From Registration Claimed</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>Inapplicable.</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="145" style='border-collapse:collapse; '>
    <tr >
        <td width="72" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 8.</font></b></p> </td>
        <td width="73" nowrap valign=top style='padding:12.0pt 0in 0in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Exhibits</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse; '>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black 1.0pt;  padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Exhibit  No.</font></p>  </div>  </td>
        <td width="156" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black 1.0pt;  padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font  size=2>Description of Exhibit</font></p>  </div>  </td>
        <td width="384" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.1</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Amended  and Restated Articles of Incorporation of the Company (incorporated herein  by reference to Exhibit 3.1 of Form S-1/A (file no. 333-123817))</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.2</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Amended  and Restated By Laws of the Company (incorporated herein by reference to  Exhibit 3.2 of Form S-1/A (file no. 333-123817))</font></p>  </td> </tr> </table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse; '>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>5.1</font></p>  </td>
        <td width="540" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Opinion  of Seward &amp; Kissel LLP</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>23.1</font></p>  </td>
        <td width="540" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Consent  of Seward &amp; Kissel LLP (included in Exhibit 5.1)</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>23.2</font></p> </td>
        <td width="540" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Consent of Ernst &amp; Young LLP</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>24.1</font></p> </td>
        <td width="540" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Powers of Attorney (contained in signature page)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="179" style='border-collapse:collapse; '>
    <tr >
        <td width="72" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Item 9.</font></b></p> </td>
        <td width="107" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><b><font size=2>Undertakings</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>The undersigned registrant hereby undertakes:</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>To file, during any period in which offers or sales are being made, a post-effective amendment to the Registration Statement:</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(i)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>to include any prospectus required by Section 10(a)(3) of the Securities Act;</font></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(ii)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and</font></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="96" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(iii)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:left;'><font size=2>provided, however, that paragraphs (a)(i) and (a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p> </td> </tr></table>
</div>



<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12pt;margin-bottom:.0001pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>3.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>
<!-- EEDocs PBStart-->
<HR noshade align="center" width="100%" size="2">
<!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'>
<B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 13th day of August, 2007.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="624" style='border-collapse:collapse'>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><B><font SIZE=2>EAGLE BULK SHIPPING INC.</font></B></p> </td> </tr>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:1.0pt;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="36" valign=top >
            <p  style='margin-top:1.0pt;text-indent:0in'><font size=2>By:</font></p> </td>
        <td width="295" valign=top style='border-bottom:solid black 1.0pt; '>
            <p  style='margin-top:0in;text-indent:0in'><b><font size=2>/s/</font></b><font size=2> </font><b><font size=2>Sophocles N. Zoullas</font></b></p> </td> </tr>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="36" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="295" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><b><font size=2>Sophocles N. Zoullas</font></b></p> </td> </tr>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="36" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="295" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><b><font size=2>President and Chief Executive Officer</font></b></p> </td> </tr>
    <tr >
        <td width="331" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="36" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="295" valign=top >
            <p  style='margin-top:0in;text-indent:0in'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>POWER OF ATTORNEY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Sophocles N. Zoullas and Alan S. Ginsberg, and each of them, as his or her attorney-in-fact, with full power of substitution in each, for him or her in any and all capacities, to sign any amendments (including post-effective amendments) to this Registration Statement on Form S-8 and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons on August 13, 2007 in the capacities indicated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><u><b><font size=2>Signature</font></b></u><u></u></p>  </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><u><b><font size=2>Title</font></b></u><u></u></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Sophocles N. Zoullas</font><u></u></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Sophocles N. Zoullas</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director, President and Chief Executive Officer (Principal Executive Officer)</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Jon Tomasson</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Jon Tomasson</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Douglas P. Haensel</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Douglas P. Haensel</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ David B. Hiley</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:19.8pt'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt;height:19.8pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>David B. Hiley</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt; height:19.8pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Alexis P. Zoullas</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Alexis P. Zoullas</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Joseph M. Cianciolo</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Joseph M. Cianciolo</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Forrest E. Wylie</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Forrest E. Wylie</font><u></u></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Director</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Alan S. Ginsberg</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Alan S. Ginsberg</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=2>Chief Financial Officer (Principal Financial and Accounting Officer)</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="284" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="354" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:center;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'>
<B><font SIZE=2>AUTHORIZED REPRESENTATIVE IN THE UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirement of the Securities Act, the undersigned, the duly undersigned representative in the United States of Eagle Shipping Inc., has signed this Registration Statement in the City of New York, State of New York, August 13, 2007.</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="624" style='border-collapse:collapse'>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font SIZE=2>EAGLE BULK (DELAWARE) LLC</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>By: Eagle Bulk Shipping Inc., its Sole member</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="66" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="66" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="66" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="198" valign=top style='border-bottom:solid black 1.0pt; '>
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>/s/ Sophocles N. Zoullas</font></p> </td>
        <td width="66" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>Name: Sophocles N. Zoullas</font></p> </td>
        <td width="66" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="336" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0in;text-align:justify;margin-top:0in;margin-bottom:0pt'><font size=2>Title: President and Chief Executive Officer</font></p> </td> </tr>
    <tr>
        <td width="336" ></td>

        <td width="24" ></td>

        <td width="198" ></td>

        <td width="66" ></td> </tr> </table>
            </div>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
       <HR noshade align="center" width="100%" size="2">
       <!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'>
</p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>EXHIBIT INDEX</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="638" style='border-collapse:collapse; '>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black 1.0pt;  padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font  size=2>Exhibit No.</font></p>  </div>  </td>
        <td width="156" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <div style='border-bottom:solid black 1.0pt;  padding:0in 0in 1.0pt 0in'>
<p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font  size=2>Description of Exhibit</font></p>  </div>  </td>
        <td width="384" valign=bottom style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:36pt;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.1</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Amended  and Restated Articles of Incorporation of the Company (incorporated herein  by reference to Exhibit 3.1 of Form S-1/A (file no. 333-123817))</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>3.2</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Amended  and Restated By Laws of the Company (incorporated herein by reference to  Exhibit 3.2 of Form S-1/A (file no. 333-123817))</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>5.1</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Opinion  of Seward &amp; Kissel LLP</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>23.1</font></p>  </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Consent  of Seward &amp; Kissel LLP (included in Exhibit 5.1)</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>23.2</font></p> </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Consent of Ernst &amp; Young LLP</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="98" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>24.1</font></p> </td>
        <td  colspan="2" valign=top style='padding:0in 5.75pt 0in 5.75pt'>
            <p style='margin-left:0pt;text-indent:0in;text-align:left;margin-top:0in;margin-bottom:0pt'><font size=2>Powers of Attorney (contained in signature page)</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
       <!-- EEDocs PBStart-->
<!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


</div>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "nyc617797.htm", "secsgml_size_bytes": 85071}]
{"company-data": {"conformed-name": "Eagle Bulk Shipping Inc.", "cik": "0001322439", "assigned-sic": "4412", "irs-number": "980450435"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-145390", "film-number": "071049075"}, "business-address": {"street1": "477 MADISON AVENUE", "street2": "SUITE 1405", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-785-2500"}, "mail-address": {"street1": "477 MADISON AVENUE", "street2": "SUITE 1405", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
As filed with the Securities and Exchange Commission on August 13, 200
7
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
Eagle Bulk Shipping Inc.
(Exact Name of Registrant as Specified in Its Charter)
Republic of the Marshall Islands
4412
98-0453513
(State or other jurisdiction of incorporation or organization)
(Primary Standard Industrial Classification Code Number)
(I.R.S. Employer Identification No.)
Eagle Bulk Shipping Inc.
Alan S. Ginsberg
477 Madison Avenue
Chief Financial Officer
New York, New York 10022
Eagle Bulk Shipping Inc.
477 Madison Avenue
New York, New York 10022
(212) 785-2500
(Address and telephone number of
Registrant's principal executive offices)
(Name, address and telephone number
of agent for service)
Eagle Bulk Shipping Inc. 2005 Stock Incentive Plan
(Full Title of the Plan)
Copies to:
Stacy J. Kanter, Esq.
Gary J. Wolfe, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Seward & Kissel LLP
Four Times Square
One Battery Park Plaza
New York, New York 10036
New York, New York 10004
(212) 735-3000 (telephone number)
(212) 574-1200 (telephone number)
(212) 735-2000 (facsimile number)
(212) 480-8421 (facsimile number)
CALCULATION OF REGISTRATION FEE
Title of Securities
To Be Registered
Amount To Be
Registered (1)
Proposed Maximum Offering Price
Per Share (2)
Proposed Maximum Aggregate Offering Price
Amount Of Registration Fee
Common Stock, par value $0.01 per share
2,600,000 shares
$23.59
$61,334,000
$1,883
(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, the number of shares of common stock registered hereby is subject to adjustment to prevent dilution by reason of any stock dividend, stock split, recapitalization or other similar transaction that results in an increase in the number of shares of our outstanding common stock.
(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and (h) under the Securities Act of 1933, as amended on the basis of the average of the high and low sale prices for a share of common stock of Eagle Bulk Shipping, Inc. as reported on the NASDAQ Global Select Market on
August 6, 2007.
PART I
INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS
(a) The documents constituting Part I of this Registration Statement will be sent or given by Eagle Bulk Shipping Inc. ("Eagle Bulk Shipping" or the "Company") to participants in the Eagle Bulk Shipping Inc. 2005 Stock Incentive Plan as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act"). The Part I Information is not filed with the Securities and Exchange Commission (the "SEC") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
(b) Upon written or oral request, the Company will provide, without charge, the documents incorporated by reference in Item 3 of Part II of this Registration Statement. The documents are incorporated by reference in the Section 10(a) prospectus. The Company will also provide, without charge, upon written or oral request, other documents required to be delivered to employees pursuant to Rule 428(b) under the Securities Act. Requests for the above-mentioned information should be directed to Alan S. Ginsberg at the address and telephone number on the cover of this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
The following documents filed by the Company with the SEC pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or the Securities Act are hereby incorporated by reference into this Registration Statement:
(a) The Company's Annual Report on form 10-K for the period ended December 31, 2006 filed with the SEC on February 28, 2007;
(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Company's Form 10-K referred to in (a) above (other than information contained in Current Reports on Form 8-K that are furnished, but not filed); and
(c) The "Description of the Capital Stock" contained in the Company's registration statement on Form 8-A (File No. 000-51366) as amended, filed with the SEC on June 20, 2005.
All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified, superseded or replaced by a statement or information contained in any other subsequently filed document incorporated herein by reference. Any such statement so modified, superseded or replaced shall not be deemed, except as so modified, superseded or replaced, to constitute a part of this Registration Statement.
Item 4.
Description of Securities
Inapplicable.
Item 5.
Interests of Named Experts and Counsel
Inapplicable.
Item 6.
Indemnification of Directors and Officers
The bylaws of the Company provide that every director and officer of the Company shall be indemnified out of the funds of the Registrant against:
(1) all civil liabilities, loss, damage or expense (including but not limited to liabilities under contract, tort and statute or any applicable foreign law or regulation and all reasonable legal and other costs and expenses properly payable) incurred or suffered by him as such director or officer acting in the reasonable belief that he has been so appointed or elected notwithstanding any defect in such appointment or election, provided always that such indemnity shall not extend to any matter which would render it void pursuant to any Marshall Islands statute from time to time in force concerning companies insofar as the same applies to the Registrant (the "Companies Acts"); and
(2) all liabilities incurred by him as such director or officer in defending any proceedings, whether civil or criminal, in which judgment is given in his favor, or in which he is acquitted, or in connection with any application under the Companies Acts in which relief from liability is granted to him by the court.
Section 60 of the Associations Law of the Republic of the Marshall Islands provides as follows: Indemnification of directors and officers.
(1) Actions not by or in right of the corporation. A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of no contest, or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonable believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceedings, had reasonable cause to believe that his conduct was unlawful.
(2) Actions by or in right of the corporation. A corporation shall have the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by
reason of the fact that he is or was a director or officer of the corporation, or is or was serving at the request of the corporation, or is or was serving at the request of the corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by him or in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not, opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claims, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation unless and only to the extent that the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
(3) When director or officer successful. To the extent that a director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (1) or (2) of this section, or in the defense of a claim, issue or matter therein, he shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by him in connection therewith.
(4) Payment of expenses in advance. Expenses incurred in defending a civil or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation as authorized in this section.
(5) Continuation of indemnification. The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.
(6) Insurance. A corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is or was serving at the request of the corporation as a director or officer against any liability asserted against him and incurred by him in such capacity whether or not the corporation would have the power to indemnify him against such liability under the provisions of this section.
Item 7.
Exemption From Registration Claimed
Inapplicable.
Item 8.
Exhibits
Exhibit  No.
Description of Exhibit
3.1
Amended  and Restated Articles of Incorporation of the Company (incorporated herein  by reference to Exhibit 3.1 of Form S-1/A (file no. 333-123817))
3.2
Amended  and Restated By Laws of the Company (incorporated herein by reference to  Exhibit 3.2 of Form S-1/A (file no. 333-123817))
5.1
Opinion  of Seward & Kissel LLP
23.1
Consent  of Seward & Kissel LLP (included in Exhibit 5.1)
23.2
Consent of Ernst & Young LLP
24.1
Powers of Attorney (contained in signature page)
Item 9.
Undertakings
1.
The undersigned registrant hereby undertakes:
(a)
To file, during any period in which offers or sales are being made, a post-effective amendment to the Registration Statement:
(i)
to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and
(iii)
to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
provided, however, that paragraphs (a)(i) and (a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the SEC by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(b)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
2.
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
3.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on this 13th day of August, 2007.
EAGLE BULK SHIPPING INC.
By:
/s/
Sophocles N. Zoullas
Sophocles N. Zoullas
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Sophocles N. Zoullas and Alan S. Ginsberg, and each of them, as his or her attorney-in-fact, with full power of substitution in each, for him or her in any and all capacities, to sign any amendments (including post-effective amendments) to this Registration Statement on Form S-8 and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons on August 13, 2007 in the capacities indicated.
Signature
Title
/s/ Sophocles N. Zoullas
Sophocles N. Zoullas
Director, President and Chief Executive Officer (Principal Executive Officer)
/s/ Jon Tomasson
Jon Tomasson
Director
/s/ Douglas P. Haensel
Douglas P. Haensel
Director
/s/ David B. Hiley
David B. Hiley
Director
/s/ Alexis P. Zoullas
Alexis P. Zoullas
Director
/s/ Joseph M. Cianciolo
Joseph M. Cianciolo
Director
/s/ Forrest E. Wylie
Forrest E. Wylie
Director
/s/ Alan S. Ginsberg
Alan S. Ginsberg
Chief Financial Officer (Principal Financial and Accounting Officer)
AUTHORIZED REPRESENTATIVE IN THE UNITED STATES
Pursuant to the requirement of the Securities Act, the undersigned, the duly undersigned representative in the United States of Eagle Shipping Inc., has signed this Registration Statement in the City of New York, State of New York, August 13, 2007.
EAGLE BULK (DELAWARE) LLC
By: Eagle Bulk Shipping Inc., its Sole member
By:
/s/ Sophocles N. Zoullas
Name: Sophocles N. Zoullas
Title: President and Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description of Exhibit
3.1
Amended  and Restated Articles of Incorporation of the Company (incorporated herein  by reference to Exhibit 3.1 of Form S-1/A (file no. 333-123817))
3.2
Amended  and Restated By Laws of the Company (incorporated herein by reference to  Exhibit 3.2 of Form S-1/A (file no. 333-123817))
5.1
Opinion  of Seward & Kissel LLP
23.1
Consent  of Seward & Kissel LLP (included in Exhibit 5.1)
23.2
Consent of Ernst & Young LLP
24.1
Powers of Attorney (contained in signature page)