Eagle Bulk Shipping (EGLE) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	15-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Eagle Bulk Shipping Inc.
Document Type	10-Q
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		37,879,712
Amendment Flag	FALSE
Entity Central Index Key	1322439
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (Successor [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Successor [Member]
Current assets:
Cash and cash equivalents	$24,404,769	$39,975,287
Accounts receivable, net	10,898,215	14,731,301
Prepaid expenses	2,497,485	3,212,930
Inventories	6,422,227	5,749,273
Investment	7,941,188	8,300,740
Other assets	3,673,482	4,621,312
Total current assets	55,837,366	76,590,843
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $19,014,885 and $8,766,830, respectively	824,543,570	834,052,684
Other fixed assets, net of accumulated amortization of $88,184 and $118,232, respectively	210,158	230,805
Restricted cash	66,243	66,243
Deferred drydock costs	4,735,780	1,960,792
Deferred financing costs	522,412	550,753
Other assets	424,702	424,702
Total noncurrent assets	830,502,865	837,285,979
Total assets	886,340,231	913,876,822
Current liabilities:
Accounts payable	7,803,418	11,663,697
Accrued interest	566,800	531,918
Other accrued liabilities	10,280,894	9,142,229
Fair value below contract value of time charters acquired	1,653,195	1,648,740
Unearned charter hire revenue	1,512,902	2,389,595
Current portion of long-term debt	15,625,000	15,625,000
Total current liabilities	37,442,209	41,001,179
Noncurrent liabilities:
Long-term debt	200,896,762	204,106,928
Fair value below contract value of time charters acquired	4,338,264	4,678,049
Total noncurrent liabilities	205,235,026	208,784,977
Total liabilities	242,677,235	249,786,156
Stockholders' equity:
Common stock, $.01 par value, 150,000,000 shares authorized, 37,639,352 and 37,504,541 shares issued and outstanding, respectively	376,394	375,045
Additional paid-in capital	675,861,946	675,264,349
Retained earnings	-32,215,792	-11,548,728
Accumulated Other Comprehensive Income	-359,552
Total stockholders' equity	643,662,996	664,090,666
Total liabilities and stockholders' equity	$886,340,231	$913,876,822

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parentheticals) (Successor [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Successor [Member]
Accumulated depreciation, vessels (in Dollars)	$19,014,885	$8,766,830
Accumulated amortization, other fixed assets (in Dollars)	$88,184	$118,232
Common stock par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	37,639,352	37,504,541
Common stock, shares outstanding	37,639,352	37,504,541

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member]
Revenues, net of commissions	$26,331,166
Voyage expenses	5,182,175
Vessel expenses	21,944,711
Charter hire expenses	1,215,964
Depreciation and amortization	10,557,171
General and administrative expenses	4,938,998
Total operating expenses	43,839,019
Operating loss	-17,507,853
Interest expense	3,162,166
Interest income	-2,955
Total other expense, net	3,159,211
Net loss	-20,667,064
Basic (in Shares)	37,527,010
Diluted (in Shares)	37,527,010
Basic net loss (in Dollars per share)	($0.55)
Diluted net loss (in Dollars per share)	($0.55)
Predecessor [Member]
Revenues, net of commissions		45,795,391
Voyage expenses		3,837,278
Vessel expenses		22,577,518
Depreciation and amortization		19,077,813
General and administrative expenses		3,122,933
Total operating expenses		48,615,542
Operating loss		-2,820,151
Interest expense		19,773,619
Interest income		-3,884
Total other expense, net		19,769,735
Net loss		($22,589,886)
Basic (in Shares)		17,080,190
Diluted (in Shares)		17,080,190
Basic net loss (in Dollars per share)		($1.32)
Diluted net loss (in Dollars per share)		($1.32)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member]
Net loss	($20,667,064)
Other comprehensive loss:
Change in unrealized loss on investment	-359,552
Total other comprehensive loss	-359,552
Comprehensive loss	-21,026,616
Predecessor [Member]
Net loss		-22,589,886
Other comprehensive loss:
Change in unrealized loss on investment		-2,101,646
Total other comprehensive loss		-2,101,646
Comprehensive loss		($24,691,532)

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (Unaudited) (Successor [Member], USD $)	Successor [Member]	Successor [Member]	Successor [Member]	Successor [Member]	Successor [Member]	Successor [Member]
	Common Stock [Member]	Additional Paid-in Capital [Member]	Net Income [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	USD ($)
	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)
Balance at at Dec. 31, 2014	$375,045	$675,264,349		($11,548,728)		$664,090,666
Balance at (in Shares) at Dec. 31, 2014	37,504,541
Net loss			-20,667,064	-20,667,064		-20,667,064
Change in unrealized loss on investment					-359,552	-359,552
Vesting of restricted shares, net of shares withheld for employee tax	1,349	-1,286,855				-1,285,506
Vesting of restricted shares, net of shares withheld for employee tax (in Shares)	134,811
Non-cash compensation		1,884,452				1,884,452
Balance at at Mar. 31, 2015	$376,394	$675,861,946		($32,215,792)	($359,552)	$643,662,996
Balance at (in Shares) at Mar. 31, 2015	37,639,352

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member]
Net loss	($20,667,064)
Depreciation	10,271,775
Amortization of deferred drydocking costs	285,396
Amortization of deferred financing costs	28,341
Amortization of discount on Exit Facility	696,084
Amortization of fair value below contract value of time charter acquired	-335,330
Non-cash compensation expense	1,884,452
Drydocking expenditures	-3,060,384
Accounts receivable	3,833,086
Other assets	947,830
Prepaid expenses	715,445
Inventories	-672,954
Accounts payable	-3,860,279
Accrued interest	34,882
Accrued expenses	1,138,665
Unearned revenue	-876,693
Net cash (used in) / provided by operating activities	-9,636,748
Vessel Improvements	-742,014
Net cash used in investing activities	-742,014
Repayment of Term Loan	-3,906,250
Cash used to settle net share equity awards	-1,285,506
Net cash used in financing activities	-5,191,756
Net increase (decrease) in cash	-15,570,518
Cash at beginning of period	39,975,287
Cash at end of period	24,404,769
Predecessor [Member]
Net loss		-22,589,886
Depreciation		18,413,964
Amortization of deferred drydocking costs		663,849
Amortization of deferred financing costs		2,015,777
Payment-in-kind interest on debt		7,337,775
Non-cash compensation expense		279,743
Drydocking expenditures		-870,303
Accounts receivable		-2,524,494
Other assets		-2,301,153
Prepaid expenses		-2,317,078
Inventories		2,875,171
Accounts payable		-1,804,245
Accrued interest		-1,746
Accrued expenses		1,520,243
Unearned revenue		-532,203
Net cash (used in) / provided by operating activities		165,414
Purchase of other fixed assets		-20,532
Net cash used in investing activities		-20,532
Net increase (decrease) in cash		144,882
Cash at beginning of period		19,682,724
Cash at end of period		$19,827,606

Note_1_Basis_of_Presentation_a

Note 1 - Basis of Presentation and General Information	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Business Description and Basis of Presentation [Text Block]	Note 1. Basis of Presentation and General Information
	The accompanying consolidated financial statements include the accounts of Eagle Bulk Shipping Inc. and its wholly-owned subsidiaries (collectively, the “Company”, “we” or “our”). The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership, chartering and operation of dry-bulk vessels. The Company's fleet is comprised of Supramax and Handymax dry bulk carriers and the Company operates its business in one business segment.
	The Company is a holding company incorporated in 2005 under the laws of the Republic of the Marshall Islands and is the sole owner of all of the outstanding shares or limited liability company interests of its subsidiaries. The primary activity of each of the subsidiaries, other than the Company’s management subsidiaries, is the ownership of a vessel. The operations of the vessels are managed by a wholly-owned subsidiary of the Company, Eagle Shipping International (USA) LLC, a Republic of the Marshall Islands limited liability company.
	As of March 31, 2015, the Company owned and operated a modern fleet of 45 oceangoing vessels, 43 Supramax and 2 Handymax, with a combined carrying capacity of 2,451,259 dwt and an average age of approximately 8.1 years. The Company also chartered in a Handylog beginning October 2, 2014 for a period of 7 years.
	The following table represents certain information about the Company's charterers which individually accounted for more than 10% of the Company's gross charter revenue during the periods indicated:
			% of Consolidated Charter Revenue
			Three Months Ended
			Successor		Predecessor
	Charterer		31-Mar-15		31-Mar-14
	Charterer A			-		13.30%
	Charterer B*			28.40%		16.00%
	*Charter revenue from a pool that the Company participates.
	The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and the rules and regulations of the Securities and Exchange Commission (“SEC”) which apply to interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes normally included in consolidated financial statements prepared in conformity with U.S. GAAP. They should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2014 Annual Report on Form 10-K, filed with the SEC on April 2, 2015.
	The accompanying unaudited consolidated financial statements include all adjustments (consisting of normal recurring adjustments) that management considers necessary for a fair statement of its consolidated financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year.
	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The significant estimates and assumptions of the Company are stock-based compensation, the useful lives of fixed assets, depreciation and amortization, the allowances for bad debt and warrants.
	Bankruptcy Filing
	On August 6, 2014, the Company entered into a restructuring support agreement (the “Restructuring Support Agreement”) with lenders constituting the “Majority Lenders” (as such term is defined in the Company’s Fourth Amended and Restated Credit Agreement, dated June 20, 2012 (the “Credit Agreement”)) under its Credit Agreement (the “Consenting Lenders”), which contemplated a plan of reorganization through a balance sheet restructuring of the Company’s obligations upon the terms specified therein. On the same day, the Company filed a voluntary prepackaged case (the “Prepackaged Case”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Court”). The Prepackaged Case was filed only in respect of the parent company, Eagle Bulk Shipping Inc., but not any of its subsidiaries. Through the Prepackaged Case, the Company sought to implement a balance sheet restructuring pursuant to the terms of its prepackaged plan of reorganization filed with the Court (the “Plan”). The Company continued to operate its business as a “debtor in possession” under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court.
	The commencement of the Prepackaged Case constituted an event of default that accelerated the Company’s obligations under the Credit Agreement, subject to an automatic stay of any action to collect, assert or recover a claim against the Company and the application of the applicable provisions of the Bankruptcy Code.
	As part of the Prepackaged Case, the Company obtained debtor-in-possession financing (the “DIP Loan Facility”), as further described below, pursuant to authorization from the Court. The Company funded its ongoing operations during the pendency of the Prepackaged Case through available borrowings under the DIP Loan Facility as well as cash generated from operations.
	Subsequent to the filing of the Prepackaged Case, the Company received approval from the Court to continue using its existing cash management system and to pay or otherwise honor certain pre-petition obligations generally designed to stabilize the Company’s operations, such as certain employee wages, salaries and benefits, certain taxes and fees, customer obligations, obligations to logistics providers and pre-petition amounts owed to certain critical vendors. The Company continued to honor payments to vendors and other providers in the ordinary course of business for goods and services received after the filing date of the Prepackaged Case. The Company retained legal and financial professionals to advise the Company in connection with the Prepackaged Case and certain other professionals to provide services and advice in the ordinary course of business.
	On September 22, 2014, the Court entered an order (the “Confirmation Order”) confirming the Plan. On October 15, 2014 (the “Effective Date”), the Company completed its balance sheet restructuring and emerged from Chapter 11 through a series of transactions contemplated by the Plan, and the Plan became effective pursuant to its terms.
	Key components of the Plan included:
		●	Entry into a new senior secured credit facility (the “Exit Financing Facility”) as of October 9, 2014, in the amount of $275 million (inclusive of a $50 million revolving credit facility).
		●	The cancellation of all outstanding equity interests in the Company as of the Effective Date, with the current holders of such equity interests (other than the Consenting Lenders on account of certain warrants held by them or shares of common stock received upon conversion of such warrants ) receiving (i) shares of the reorganized Company’s common stock (“New Eagle Common Stock”) equal to 0.5% of the total number of shares of New Eagle Common Stock issued and outstanding on the Effective Date (subject to dilution by the New Eagle Equity Warrants (as defined below) and the Management Incentive Program (as defined below)), and (ii) an aggregate of 3,045,327 New Eagle Equity Warrants. Each New Eagle Equity Warrant will have a 7-year term (commencing on the Effective Date) and will be exercisable for one share of New Eagle Common Stock (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement and dilution by the Management Incentive Program).
		●	The extinguishment of all loans and other obligations under the Credit Agreement as of the Effective Date, with the current holders thereof receiving (i) shares of New Eagle Common Stock equal to 99.5% of the total number of shares of New Eagle Common Stock issued and outstanding on the Effective Date, subject to dilution by the New Eagle Equity Warrants and the Management Incentive Program, and (ii) a cash distribution as contemplated by the Plan. On the Effective Date, the Credit Agreement was terminated, and the liens and mortgages thereunder were released.
		●	All claims of unsecured creditors of Eagle Bulk Shipping Inc. were unaffected and will be paid in full in the ordinary course of business.
		●	The establishment of a Management Incentive Program (the “Management Incentive Program”) that provides senior management and certain other employees of the reorganized Company with 2% of the New Eagle Common Stock (on a fully diluted basis) on the Effective Date, and two tiers of options to acquire 5.5% of the New Eagle Common Stock (on a fully diluted basis) with different strike prices based on the equity value for the reorganized Company and a premium to the equity value, each of the foregoing to vest generally over a four year schedule through 25% annual installments commencing on the first anniversary of the Effective Date. The Management Incentive Program also provides for the reservation of certain additional shares for future issuance thereunder, as further described in the Plan.
	The Plan also provided for certain releases of various parties by certain holders of claims against and equity interests in the Company.
	Exit Financing Facility
	On October 9, 2014, Eagle Bulk Shipping Inc., as borrower, and certain of its subsidiaries, as guarantors, entered into the Exit Financing Facility with certain lenders (the “Exit Lenders”). The Exit Financing Facility is in the amount of $275 million, including a $50 million undrawn revolving credit facility, and matures on October 15, 2019. A fee of $5.5 million was paid to the lenders in connection with the Exit Financing Facility. Amounts drawn under the Exit Financing Facility bear interest at a rate of LIBOR plus a margin ranging between 3.50% and 4.00% per annum. The revolving credit facility is subject to an annual commitment fee of 40% of the margin. The Exit Financing Facility is described further in Note 5 below.
	Registration Rights Agreement
	On the Effective Date, and in accordance with the Plan, the Company entered into the Registration Rights Agreement with certain parties that received shares of New Eagle Common Stock under the Plan. The Registration Rights Agreement provided such parties with demand and piggyback registration rights.
	New Eagle Equity Warrant Agreement
	On the Effective Date, and in accordance with the Plan, the Company issued new equity warrants (the “New Eagle Equity Warrants”) pursuant to the terms of the warrant agreement (the “New Eagle Equity Warrant Agreement”). Each New Eagle Equity Warrant has a 7-year term (commencing on the Effective Date) and are exercisable for one share of New Eagle Common Stock (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement and dilution by the Management Incentive Program). The New Eagle Equity Warrants are exercisable at an exercise price of $27.82 per share (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement). The New Eagle Equity Warrant Agreement contains customary anti-dilution adjustments in the event of any stock split, reverse stock split, stock dividend, reclassification, dividend or other distributions (including, but not limited to, cash dividends), or business combination transaction.
	FRESH START ACCOUNTING
	Financial Statement Presentation
	Upon the Company’s emergence from the Prepackaged Case on October 15, 2014, the Company adopted fresh-start accounting in accordance with provisions of ASC 852, Reorganizations (“ASC 852”). Upon adoption of fresh-start accounting, the Company’s assets and liabilities were recorded at their fair value as of October 15, 2014, the fresh-start reporting date. The fair values of the Company’s assets and liabilities in conformance with ASC 805, Business Combinations, as of that date differed materially from the recorded values of its assets and liabilities as reflected in its historical consolidated financial statements. In addition, the Company’s adoption of fresh-start accounting may materially affect its results of operations following the fresh-start reporting date, as the Company will have a new basis in its assets and liabilities. Consequently, the Company’s historical financial statements may not be reliable indicators of its financial condition and results of operations for any period after it adopted fresh-start accounting. As a result of the adoption of fresh-start reporting, the Company’s consolidated balance sheets and condensed consolidated statements of operations for periods subsequent to October 15, 2014 will not be comparable in many respects to our condensed consolidated balance sheets and condensed consolidated statements of operations for periods prior to October 15, 2014.
	Under ASC 852, fresh-start accounting is required upon emergence from Chapter 11 if (i) the value of the assets of the emerging entity immediately before the date of confirmation is less than the total of all post-petition liabilities and allowed claims; and (ii) holders of existing voting shares immediately before confirmation receive less than 50% of the voting shares of the emerging entity. Accordingly, the Company qualified for and adopted fresh-start accounting as of the Effective Date. Adopting fresh-start accounting results in a new reporting entity with no beginning retained earnings or deficits. The cancellation of all existing shares outstanding on the Effective Date and issuance of new shares of the reorganized entity caused a change of control of the Company under ASC 852.

Note_2_New_Accounting_Pronounc

Note 2 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 2. New Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle is that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity.” This ASU is intended to provide guidance for situations in which the fair value of the financial assets of a collateralized financing entity differ from the fair value of its financial liabilities. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2015. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern.” This ASU establishes specific guidance to an organization's management on their responsibility to evaluate whether there is substantial doubt about the organization's ability to continue as a going concern. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2016. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.
	In April 2015, the FASB issued ASU No.2015-3, “Simplifying the Presentation of Debt Issuance Costs”. The new guidance specifies that debt issuance costs under the new standard are to be netted against the carrying value of the financial liability. The guidance should be applied on a retrospective basis. The effective date of the new guidance is for fiscal years beginning after December 15, 2015. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.

Note_3_Vessels

Note 3 - Vessels	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 3. Vessels
	Vessel and Vessel Improvements
	At March 31, 2015, the Company’s operating fleet consisted of 45 drybulk vessels. At October 15, 2014, the Company’s vessels were adjusted to a fair value aggregating $842,625,000 as part of fresh start accounting. The fair values were based primarily on valuations obtained from third-party specialists principally utilizing the market value approach.
	Vessel and vessel improvements consist of the following:
	Successor
	Vessels and Vessel Improvements, at December 31, 2014	$	834,052,684
	Improvements		738,941
	Depreciation Expense		(10,248,055	)
	Vessels and Vessel Improvements, at March 31, 2015	$	824,543,570
	In April 2015, the Company decided to sell the Kite, a 1997-built Handymax, and reached an agreement to sell the vessel for $4,297,100 after brokerage commissions payable to a third party.  The Kite was not available for delivery before April 29, 2015. On May 7, 2015 the Company sold the vessel and expects to realize a net loss of approximately $5.7 million in the second quarter of 2015.

Note_4_Investment

Note 4 - Investment	3 Months Ended
	Mar. 31, 2015
Investments Schedule [Abstract]
Investment [Text Block]	Note 4. Investment
	Korea Line Corporation
	The Company’s investment in capital stock of the Korea Line Corporation (“KLC”) is designated as Available For Sale (“AFS”) and is reported at its fair value, with unrealized gains and losses recorded in equity as a component of accumulated other comprehensive income (loss) (“AOCI”). The fair value of the KLC shares are determined from the market price as quoted on the Korean Stock Exchange and by converting the South-Korean Won (“KRW”) extended value into USD with the exchange rate applicable on date of conversion. The Company reviews the investment in KLC for impairment on a quarterly basis.
	The Company concluded that for the Successor Company as of March 31, 2015 and for the Predecessor Company as of March 30, 2014, the change in the fair value of the KLC investment was “temporary”. The Company recorded unrealized losses of $0.4 million and $2.1 million as of March 31, 2015 and 2014, respectively, in shareholders’ equity as a component of Accumulated Other Comprehensive Income.
	The following table provides information on the Company’s investment in KLC capital stock which is recorded at fair value:
		No. of KLC		Cost		Fair Value			Unrealized			Other-than Temporary Loss reported in Earnings-YTD		Gain/(Loss) On
		Shares		Basis-Adjusted					Gain/(Loss)					Sale of KLC
									reported in					Stock-YTD
									OCI
	Balance at December 31, 2013 (Predecessor)		566,529	$	13,817,439	$	13,817,439			-			-		-
	Fair Value-Adjustments, net		-		-		(2,101,646	)		(2,101,646	)		-		-
	Balance at March 31, 2014 (Predecessor)		566,529	$	13,817,439	$	11,715,793		$	(2,101,646	)		-		-
	Balance at December 31, 2014 (Successor)		387,453	$	8,300,740	$	8,300,740			-			-		-
	Fair Value-Adjustments, net		-		-		(359,552	)		(359,552	)		-		-
	Balance at March 31, 2015 (Successor)		387,453	$	8,300,740	$	7,941,188		$	(359,552	)		-		-

Note_5_Debt

Note 5 - Debt	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Long-term Debt [Text Block]	Note 5. Debt
	Debt consists of the following:
		Successor
		31-Mar-15			31-Dec-14
	Exit Facility	$	221,093,750		$	225,000,000
	Discount on Facility		(4,571,988	)		(5,268,072	)
	Less: Current Portion		(15,625,000	)		(15,625,000	)
	Total debt	$	200,896,762		$	204,106,928
	Exit Financing Facility
	On October 9, 2014, the Company entered into the Exit Financing Facility with the Exit Lenders. The Exit Financing Facility is in the amount of $275 million, including a $50 million undrawn revolving credit facility, and matures on October 15, 2019. Amounts drawn under the Exit Financing Facility bear interest at a rate of LIBOR plus the margin. The revolving credit facility is subject to an annual commitment fee of 40% of the margin.
	The Company’s obligations under the Exit Financing Facility are secured by a first priority mortgage on each of the vessels in its fleet and such other vessels that it may from time to time include with the approval of the Exit Lenders, a first assignment of its earnings account, its liquidity account and its vessel-owning subsidiaries’ earnings accounts, a first assignment of all charters (having a term which is not reasonably likely to exceed 18 months), freights, earnings, insurances, requisition compensation and management agreements with respect to the vessels and a first priority pledge of the membership interests of each of its vessel-owning subsidiaries. The Company may grant additional security to the Exit Lenders from time to time in the future.
	The Exit Financing Facility contains financial covenants requiring the Company, among other things, to ensure that: the aggregate market value of the vessels in the Company’s fleet at all times does not fall below between 150% and 165% of the aggregate principal amount of debt outstanding under the Exit Financing Facility; the total financial indebtedness of the Company and all of its subsidiaries on a consolidated basis divided by the sum of (i) the total shareholders’ equity for the Company and all of its subsidiaries (minus goodwill and other non-tangible items) and (ii) the total financial indebtedness of the Company and all of its subsidiaries on a consolidated basis, shall not be more than 0.65; the aggregate of the Company’s and its subsidiaries’ EBITDA will not be less than 2.5x of the aggregate amount of interest incurred and net amounts payable under interest rate hedging arrangements during the relevant particular period; and the Company maintains a minimum liquidity of not less than the greater of (i) $20,000,000 and (ii) $500,000 per vessel in the Company’s fleet.
	In addition, the Exit Financing Facility also imposes operating restrictions on the Company including limiting the Company’s ability to, among other things: pay dividends; incur additional indebtedness; create liens on assets; acquire and sell capital assets (including vessels); merge or consolidate with, or transfer all or substantially all of the Company’s assets to, another person; and enter into a new line of business. The Company shall repay the Exit Financing Facility in 20 equal consecutive quarterly repayment installment each in an amount of U.S. $3,906,250.
	The Exit Financing Facility also includes customary events of default, including those relating to a failure to pay principal or interest, a breach of covenant, representation or warranty, a cross-default to other indebtedness and non-compliance with security documents. Further, there would be a default if any event occurs or circumstances arise in light of which, in the Exit Lenders’ judgment, there is significant risk that the Company is or would become insolvent. The Company is not permitted to pay dividends if there is a default or a breach of a loan covenant under the Exit Financing Facility or if the payment of the dividends would result in a default or breach of a loan covenant. Indebtedness under the Exit Financing Facility may also be accelerated if the Company experiences a change of control.
	For the period ended March 31, 2015, interest rates on our outstanding debt ranged from 4.04% to 4.05%, including a margin over LIBOR applicable under the terms of the amended credit facility and commitment fees of 40% of the margin on the undrawn portion of the facility. The weighted average effective interest rate was 5.29%.
	For the three months ended March 31, 2014, interest rates on the outstanding debt ranged from 3.73% to 3.61%, including a margin of 3.50% over LIBOR and commitment fees of 0.70% on the undrawn portion of the facility. The weighted average effective interest rate for the three months ended March 31, 2014, was 3.65%.
	Interest Expense consisted of:
		Successor			Predecessor
		31-Mar-15			31-Mar-14
	Exit Financing Facility Interest	$	2,437,741
	Amortization of Facility Deferred Financing Costs		28,341
	Amortization of Discount on Facility		696,084
	Term loan Interest		-		$	17,757,842
	Amortization of Term Loan Deferred Financing Costs		-			2,015,777
	Total Interest Expense	$	3,162,166		$	19,773,619
	Interest paid, amounted to $2,402,859 for the three months ended March 31, 2015 and $10,421,812 exclusive of PIK loans for the three months ended March 31, 2014.

Note_6_Derivative_Instruments_

Note 6 - Derivative Instruments and Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Disclosure Text Block [Abstract]

Derivatives and Fair Value [Text Block]

Note 6. Derivative Instruments and Fair Value Measurements

Cash Collateral Disclosures

The Company does not offset fair value amounts recognized for derivatives by the right to reclaim cash collateral or the obligation to return cash collateral. The amount of collateral to be posted is defined by the terms of the respective master agreement executed with counterparties or exchanges and is required when agreed upon threshold limits are exceeded. As of March 31, 2015 and December 31, 2014, the Company had no outstanding amounts paid as collateral related to the derivative fair value positions.

Fair Value Measurements

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Cash, cash equivalents and restricted cash—the carrying amounts reported in the consolidated balance sheet for interest-bearing deposits approximate their fair value due to their short-term nature thereof.

Debt—the carrying amounts of borrowings under the revolving credit agreement approximate their fair value, due to the variable interest rate nature thereof.

Investment—include our available-for-sale securities that are traded in active market internationally. The fair value is measured by using closing stock price from active market.

The Company defines fair value, establishes a framework for measuring fair value and provides disclosures about fair value measurements. The fair value hierarchy for disclosure of fair value measurements is as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities. Our Level 1 non-derivatives include cash, money-market accounts, restricted cash accounts and investment.

Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable. Our Level 2 non-derivatives include our term loan account.

Level 3 – Inputs that are unobservable (for example cash flow modeling inputs based on assumptions).

The following table summarizes assets and liabilities measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014:

Successor

31-Mar-15

31-Dec-14

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

Assets:

Investment

$

7,941,188

—

—

$

8,300,740

—

—

Note_7_Commitments_and_Conting

Note 7 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 7. Commitments and Contingencies
	Legal Proceedings
	The Company is involved in legal proceedings and may become involved in other legal matters arising in the ordinary course of its business. The Company evaluates these legal matters on a case-by-case basis to make a determination as to the impact, if any, on its business, liquidity, results of operations, financial condition or cash flows.
	Vessel Technical Management Contract
	The Company has technical management agreements for certain of its vessels with independent technical managers. The Company paid average monthly technical management fees of $11,042 and $10,708 per vessel during the three months ended March 31, 2015 and 2014, respectively.

Note_8_Related_Party_Transacti

Note 8 - Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 8. Related Party Transactions
	On August 4, 2009, the Company entered into a management agreement (the "Management Agreement") with Delphin Shipping LLC ("Delphin"), a Marshall Islands limited liability company affiliated with Kelso Investment Associates VII, KEP VI, LLC and the Company's former Chief Executive Officer, Sophocles Zoullas.  Delphin was formed for the purpose of acquiring and operating dry bulk and other vessels. Under the terms of the Management Agreement, the Company provided commercial and technical supervisory vessel management services to dry bulk vessels acquired by Delphin for a monthly fee of $15,834 for the first 10 vessels, $11,667 for the second 10 vessels and $8,750 for the third 10 vessels. Pursuant to the terms of the Management Agreement, the Company was granted an opportunity to acquire for its own account any dry bulk vessel that Delphin proposes to acquire. The Company was also granted a right of first refusal on any dry bulk charter opportunity, other than a renewal of an existing charter for a Delphin-owned vessel that the Company reasonably deems suitable for a Company-owned vessel. The Management Agreement provided the Company a right of first offer on the sale of any dry bulk vessel by Delphin. The term of the Management Agreement was one year and was renewable for successive one year terms at the option of Delphin.
	On October 15, 2014, above referenced the Management Agreement was amended and restated (as so amended and restated, the “Amended Management Agreement”). Under the Amended Management Agreement, the technical management fee is $700 per vessel per day. The commercial management fee is 1.25% of charter hire; provided, however, that no commercial management fee shall be payable with respect to a charter hire that is earned while a vessel is a member of a pool and with respect to which a fee is paid to the pool manager.
	Total management fees for the Successor period ended March 31, 2015, amounted to $802,805. The advanced balance received from Delphin on account for the management of its vessels as of March 31, 2015 amounted to $449,531. The total reimbursable expenses for the period ended March 31, 2015 amounted to $41,357. The balance due from Delphin as of March 31, 2015 amounted to $2,275. The balance due mainly consists of management fees, administrative service fees and other reimbursable expenses.
	Total management fees for the Predecessor period ended March 31, 2014, amounted to $545,022. The advanced balance received from Delphin on account for the management of its vessels as of March 31, 2014 amounted to $786,844. The total reimbursable expenses for the period ended March 31, 2014 amounted to $37,279. The balance due from Delphin as of March 31, 2014 amounted to $4,984. The balance due mainly consisted of management fees, administrative service fees and other reimbursable expenses.
	The Amended Management Agreement contains an acknowledgement that the Company may have a conflict in pursuing charter opportunities for Delphin’s vessels and provides a means for dealing with such conflict. The initial term of the Amended Management Agreement is one year from the Effective Date. The Amended Management Agreement is thereafter renewable for successive one year terms at the option of Delphin. The Amended Management Agreement also contains certain termination events in favor of Delphin and the Company.

Note_9_Earnings_Loss_Per_Commo

Note 9 - Earnings (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 9. Earnings (Loss) Per Common Share
	The computation of basic net loss per share is based on the weighted average number of common shares outstanding for the period ended March 31, 2015 and March 31, 2014 for the Successor and Predecessor, respectively. The Predecessor diluted net loss per share for the period ended March 31, 2014 reflects the weighted average of the underlying warrant shares issuable upon exercise of the 615,997 warrants at the exercise price of $0.01 per share. Diluted net loss per share as of March 31, 2014, does not include 123,667 restricted stock units and 1,727,667 stock options as their effect was anti-dilutive. In accordance with the accounting literature, the Company has given effect to the issuance of these warrants in computing basic net loss per share because the underlying shares are issuable for little or no cash consideration. Diluted net loss per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share as of March 31, 2015 does not include 489,471 stock awards, 975,312 stock options and 3,045,327 warrants as their effect was anti-dilutive.
		Successor			Predecessor
		31-Mar-15			31-Mar-14
	Net Loss	$	(20,667,064	)	$	(22,589,886	)
	Weighted Average Shares-Basic		37,527,010			17,080,190
	Dilutive effect of stock options and restricted stock units		-			-
	Weighted Average Shares Diluted		37,527,010			17,080,190
	Basic loss Per Share	$	(0.55	)	$	(1.32	)
	Diluted loss Per Share	$	(0.55	)	$	(1.32	)

Note_10_Stock_Incentive_Plans

Note 10 - Stock Incentive Plans	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 10. Stock Incentive Plans
	2014 Management Incentive Plan
	On the Effective Date, in accordance with the Plan, the Company adopted the post-emergence Management Incentive Plan, which provides for the distribution of New Eagle MIP Primary Equity in the form of shares of New Eagle Common Stock, and New Eagle MIP Options, to the participating senior management and other employees of the reorganized Company with 2% of the New Eagle Common Stock (on a fully diluted basis) on the Effective Date, and two tiers of options to acquire 5.5% of the New Eagle Common Stock (on a fully diluted basis) with different strike prices based on the equity value for the reorganized Company and a premium to the equity value, each of the foregoing to vest generally over a four year schedule through 25% annual installments commencing on the first anniversary of the Effective Date. The New Eagle MIP Primary Equity is subject to vesting, but the holder thereof is entitled to receive all dividends paid with respect to such shares as if such New Eagle MIP Primary Equity had vested on the grant date (subject to forfeiture by the holder in the event that such grant is terminated prior to vesting unless the administrator of the Management Incentive Program determines otherwise). The New Eagle MIP Options contains adjustment provisions to reflect any transaction involving shares of New Eagle Common Stock, including as a result of any dividend, recapitalization, or stock split, so as to prevent any diminution or enlargement of the holder’s rights under the award.
	On March 9, 2015, the Company’s former Chief Executive Officer resigned from the Company. In connection with the resignation, the Company entered into a Separation Agreement and General Release with its former Chief Executive Officer. The agreement provides, among other things, a vesting of 270,270 of New Eagle MIP Primary Equity of the Company previously granted to its former Chief Executive Officer. All other equity awards previously granted by the Company to its former Chief Executive Officer were forfeited without consideration pursuant to such Separation Agreement.
	On April 27, 2015, the Company’s former Chief Operating Officer separated from the Company. On May 1, 2015, the Company and its former Chief Operating Officer entered into a Separation Agreement and General Release. The Separation Agreement provides among other things, a vesting of 40,000 of New Eagle MIP Primary Equity of the Company previously granted to its former Chief Operating Officer, payable in accordance with and subject to certain terms and conditions of such Separation Agreement. All other equity awards previously granted by the Company to its former Chief Operation Officer were forfeited without consideration pursuant to such Separation Agreement.
	As of March 31, 2015, stock awards covering a total of 489,471 of the Company’s shares are outstanding. The stock awards vest ratably over four years. The Company is amortizing to non-cash compensation expense the fair value of the non-vested stock awards at the grant date.
	As of March 31, 2015, options covering 975,312 of the Company’s common shares are outstanding with exercise prices ranging from $18.00 to $25.25 per share (the market prices at dates of grants). The options granted to members of its management under the Management Incentive Plan vest and become exercisable in four equal annual installments beginning on the grant date. All options expire within seven years from the effective date.
	For the three months ended March 31, 2015 and 2014, the Company has recorded a non-cash compensation charge of $1,884,452 and $279,743, respectively. The remaining expense for each of the years ending 2015, 2016 and 2017 will be $1,387,505, $1,193,968 and $636,921 respectively.

Note_1_Basis_of_Presentation_a1

Note 1 - Basis of Presentation and General Information (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule Of Consolidated Revenue From Major Charters [Table Text Block]		% of Consolidated Charter Revenue
		Three Months Ended
		Successor		Predecessor
	Charterer	31-Mar-15		31-Mar-14
	Charterer A		-		13.30%
	Charterer B*		28.40%		16.00%

Note_3_Vessels_Tables

Note 3 - Vessels (Tables)	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule Of Vessel And Vessl Improvements [Table Text Block]	Vessels and Vessel Improvements, at December 31, 2014	$	834,052,684
	Improvements		738,941
	Depreciation Expense		(10,248,055	)
	Vessels and Vessel Improvements, at March 31, 2015	$	824,543,570

Note_4_Investment_Tables

Note 4 - Investment (Tables)	3 Months Ended
	Mar. 31, 2015
Investments Schedule [Abstract]
Investment [Table Text Block]		No. of KLC		Cost		Fair Value			Unrealized			Other-than Temporary Loss reported in Earnings-YTD		Gain/(Loss) On
		Shares		Basis-Adjusted					Gain/(Loss)					Sale of KLC
									reported in					Stock-YTD
									OCI
	Balance at December 31, 2013 (Predecessor)		566,529	$	13,817,439	$	13,817,439			-			-		-
	Fair Value-Adjustments, net		-		-		(2,101,646	)		(2,101,646	)		-		-
	Balance at March 31, 2014 (Predecessor)		566,529	$	13,817,439	$	11,715,793		$	(2,101,646	)		-		-
	Balance at December 31, 2014 (Successor)		387,453	$	8,300,740	$	8,300,740			-			-		-
	Fair Value-Adjustments, net		-		-		(359,552	)		(359,552	)		-		-
	Balance at March 31, 2015 (Successor)		387,453	$	8,300,740	$	7,941,188		$	(359,552	)		-		-

Note_5_Debt_Tables

Note 5 - Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Debt [Table Text Block]		Successor
		31-Mar-15			31-Dec-14
	Exit Facility	$	221,093,750		$	225,000,000
	Discount on Facility		(4,571,988	)		(5,268,072	)
	Less: Current Portion		(15,625,000	)		(15,625,000	)
	Total debt	$	200,896,762		$	204,106,928
Schedule of Interest Expense Excluding Capitalized Interest [Table Text Block]		Successor			Predecessor
		31-Mar-15			31-Mar-14
	Exit Financing Facility Interest	$	2,437,741
	Amortization of Facility Deferred Financing Costs		28,341
	Amortization of Discount on Facility		696,084
	Term loan Interest		-		$	17,757,842
	Amortization of Term Loan Deferred Financing Costs		-			2,015,777
	Total Interest Expense	$	3,162,166		$	19,773,619

Note_6_Derivative_Instruments_1

Note 6 - Derivative Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure Text Block [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

Successor

31-Mar-15

31-Dec-14

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

Assets:

Investment

$

7,941,188

—

—

$

8,300,740

—

—

Note_9_Earnings_Loss_Per_Commo1

Note 9 - Earnings (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		Successor			Predecessor
		31-Mar-15			31-Mar-14
	Net Loss	$	(20,667,064	)	$	(22,589,886	)
	Weighted Average Shares-Basic		37,527,010			17,080,190
	Dilutive effect of stock options and restricted stock units		-			-
	Weighted Average Shares Diluted		37,527,010			17,080,190
	Basic loss Per Share	$	(0.55	)	$	(1.32	)
	Diluted loss Per Share	$	(0.55	)	$	(1.32	)

Note_1_Basis_of_Presentation_a2

Note 1 - Basis of Presentation and General Information (Details) (USD $)	0 Months Ended		3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Oct. 02, 2014	Oct. 09, 2014	Mar. 31, 2015	Mar. 31, 2014	Oct. 09, 2014	Jul. 02, 2014
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			45
Dead Weight Tonnage Of Operating Fleet			2,451,259
Average Age In Years Of Operating Fleet	7 years		8 years 36 days
Line of Credit Facility, Commitment Fee Amount (in Dollars)		$5.50
Annually [Member] | Subsequent Event [Member] | Employee Stock Option [Member] | Management Equity Incentive Plan [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Subsequent Event [Member] | Employee Stock Option [Member] | Management Equity Incentive Plan [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum		5.50%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Subsequent Event [Member] | New Eagle Equity Warrants [Member] | Bankruptcy, Exchanged to Common Stockholders [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Class of Warrant or Right, Outstanding (in Shares)		3,045,327			3,045,327
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares)		1			1
Subsequent Event [Member] | New Eagle Equity Warrants [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Warrant, Term		7 years
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares)		1			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$27.82			$27.82
Subsequent Event [Member] | Management Equity Incentive Plan [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum		2.00%
Subsequent Event [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.50%
Subsequent Event [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate		4.00%
Subsequent Event [Member] | Bankruptcy, Exchanged to Common Stockholders [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Restructuring Covenant, Percentage of Equity Exchanged		0.50%
Subsequent Event [Member] | Bankruptcy, Exchanged to Lenders [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Restructuring Covenant, Percentage of Equity Exchanged		99.50%
Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)		275			275
Line of Credit Facility, Commitment Fee Percentage		40.00%
Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Revolving Credit Facility [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)		50			50
New Eagle Equity Warrants [Member] | Bankruptcy, Exchanged to Common Stockholders [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Warrant, Term		7 years
Trigger Price C Warrants [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Class of Warrant or Right, Common Stock Threshold Price (in Dollars per share)						$0.50
Supramax Vessels [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			43
Handymax Vessels [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			2
Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)		275			275
Debt Instrument, Basis Spread on Variable Rate				3.50%
Line of Credit Facility, Commitment Fee Percentage			40.00%	0.70%
Restructuring Support Agreement and Plan of Reorganization [Member] | Revolving Credit Facility [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)		$50			$50
Line of Credit Facility, Commitment Fee Percentage					40.00%

Note_1_Basis_of_Presentation_a3

Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2015
Charterer A [Member] | Predecessor [Member]
Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters [Line Items]
Charterer	13.30%
Charterer B [Member] | Successor [Member]
Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters [Line Items]
Charterer			28.40%	[1]
Charterer B [Member] | Predecessor [Member]
Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters [Line Items]
Charterer	16.00%	[1]
[1]	Charter revenue from a pool that the Company participates.

Note_3_Vessels_Details

Note 3 - Vessels (Details) (USD $)	3 Months Ended	1 Months Ended
	Jun. 30, 2015	Apr. 30, 2015	Mar. 31, 2015	Oct. 15, 2014
Note 3 - Vessels (Details) [Line Items]
Number Of Vessels			45
Scenario, Forecast [Member] | Kite [Member]
Note 3 - Vessels (Details) [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment	($5,700,000)
Vessels and Vessel Improvements [Member]
Note 3 - Vessels (Details) [Line Items]
Assets, Fair Value Disclosure				842,625,000
Kite [Member]
Note 3 - Vessels (Details) [Line Items]
Proceeds from Sale of Property, Plant, and Equipment		$4,297,100

Note_3_Vessels_Details_Vessels

Note 3 - Vessels (Details) - Vessels (Successor [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Note 3 - Vessels (Details) - Vessels [Line Items]
Vessels and Vessel Improvements, at		$230,805
Vessels and Vessel Improvements, at	210,158	230,805
Vessels and Vessel Improvements [Member]
Note 3 - Vessels (Details) - Vessels [Line Items]
Vessels and Vessel Improvements, at	834,052,684
Improvements	738,941
Depreciation Expense	-10,248,055
Vessels and Vessel Improvements, at	$824,543,570

Note_4_Investment_Details

Note 4 - Investment (Details) (Korea Line Corporation [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Korea Line Corporation [Member]
Note 4 - Investment (Details) [Line Items]
Unrealized Gain (Loss) on Investments	($0.40)	($2.10)

Note_4_Investment_Details_Summ

Note 4 - Investment (Details) - Summary of KLC Capital Stock (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2013	Dec. 31, 2014
Predecessor [Member] | Korea Line Corporation [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
KLC Shares (in Shares)	566,529		566,529
Cost Basis-Adjusted	$13,817,439		$13,817,439
Unrealized Gain (Loss)	-2,101,646
Fair Value	11,715,793		13,817,439
Unrealized Gain (Loss) Adjustment	-2,101,646
Fair Value Adjustment	-2,101,646
Predecessor [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
Unrealized Gain (Loss)	-2,101,646
Successor [Member] | Korea Line Corporation [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
KLC Shares (in Shares)		387,453		387,453
Cost Basis-Adjusted		8,300,740		8,300,740
Unrealized Gain (Loss)		-359,552
Fair Value		7,941,188		8,300,740
Unrealized Gain (Loss) Adjustment		-359,552
Fair Value Adjustment		-359,552
Successor [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
Unrealized Gain (Loss)		($359,552)

Note_5_Debt_Details

Note 5 - Debt (Details) (USD $)	0 Months Ended	3 Months Ended
	Oct. 09, 2014	Mar. 31, 2015	Mar. 31, 2014	Oct. 09, 2014
Note 5 - Debt (Details) [Line Items]
Interest Paid (in Dollars)		2,402,859	10,421,812
Minimum [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		4.04%	3.73%
Maximum [Member] | Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		4.05%	3.61%
Restructuring Support Agreement and Plan of Reorganization [Member] | Line of Credit [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)	275,000,000			275,000,000
Line of Credit Facility, Commitment Fee Percentage		40.00%	0.70%
Debt Instrument, Covenant, Percentage of Aggregate Principal, Minimum Threshold	150.00%			150.00%
Debt Instrument, Covenant, Percentage of Aggregate Principal, Maximum Threshold	165.00%			165.00%
Debt Instrument, Covenant, Maximum Indebtedness	0.65			0.65
Debt Instrument, Covenant, EBITDA to Interest, Minimum Multiple	2.5			2.5
Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold (in Dollars)	20,000,000			20,000,000
Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold per Vessel (in Dollars per Item)	500,000			500,000
Debt Instrument, Periodic Payment, Principal, Number of Quarterly Installments	20			20
Debt Instrument, Periodic Payment, Principal (in Dollars)	3,906,250
Debt, Weighted Average Interest Rate		5.29%	3.65%
Debt Instrument, Basis Spread on Variable Rate			3.50%
Restructuring Support Agreement and Plan of Reorganization [Member] | Revolving Credit Facility [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)	$50,000,000			$50,000,000
Line of Credit Facility, Commitment Fee Percentage	40.00%

Note_5_Debt_Details_Summary_of

Note 5 - Debt (Details) - Summary of Debt (Successor [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Successor [Member]
Note 5 - Debt (Details) - Summary of Debt [Line Items]
Exit Facility	$221,093,750	$225,000,000
Discount on Facility	-4,571,988	-5,268,072
Less: Current Portion	-15,625,000	-15,625,000
Total debt	$200,896,762	$204,106,928

Note_5_Debt_Details_Interest_E

Note 5 - Debt (Details) - Interest Expense (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member] | Line of Credit [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs	$28,341
Successor [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Exit Financing Facility Interest	2,437,741
Amortization of Deferred Financing Costs	28,341
Total Interest Expense	3,162,166
Amortization of Discount on Facility	696,084
Predecessor [Member] | Term Loan [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs		2,015,777
Predecessor [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs		2,015,777
Total Interest Expense		19,773,619
Term loan Interest		$17,757,842

Note_6_Derivative_Instruments_2

Note 6 - Derivative Instruments and Fair Value Measurements (Details) - Summary of Assets and Liabilities Measured at Fair Value (Fair Value, Inputs, Level 1 [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Note 6 - Derivative Instruments and Fair Value Measurements (Details) - Summary of Assets and Liabilities Measured at Fair Value [Line Items]
Investment	$7,941,188	$8,300,740

Note_7_Commitments_and_Conting1

Note 7 - Commitments and Contingencies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member]
Note 7 - Commitments and Contingencies (Details) [Line Items]
Monthly Technical Management Fees	$11,042
Predecessor [Member]
Note 7 - Commitments and Contingencies (Details) [Line Items]
Monthly Technical Management Fees		$10,708

Note_8_Related_Party_Transacti1

Note 8 - Related Party Transactions (Details) (USD $)	12 Months Ended	3 Months Ended		62 Months Ended	0 Months Ended
	Oct. 15, 2015	Mar. 31, 2015	Mar. 31, 2014	Oct. 14, 2014	Oct. 15, 2014
Note 8 - Related Party Transactions (Details) [Line Items]
Number Of Vessels		45
Scenario, Forecast [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Day (in Dollars per Item)	700
Commercial Management Fee, Percent of Charter Hire	1.25%
Successor [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue		$802,805
Advance Balance Received		449,531
Reimbursement Of Expenses		41,357
Due from Related Parties		2,275
Predecessor [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue			545,022
Advance Balance Received			786,844
Reimbursement Of Expenses			37,279
Due from Related Parties			4,984
First Ten Vessels [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month				15,834
Number Of Vessels				10
Second Ten Vessels [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month				11,667
Number Of Vessels				10
Third Ten Vessels [Member] | Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month				$8,750
Number Of Vessels				10
Delphin Shipping Llc [Member]
Note 8 - Related Party Transactions (Details) [Line Items]
Management Fee, Term					1 year
Management Fee, Renewal Term					1 year

Note_9_Earnings_Loss_Per_Commo2

Note 9 - Earnings (Loss) Per Common Share (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015
Predecessor [Member] | Warrant [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Weighted Average Underlying Warrant Shares Issuable	615,997
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)	$0.01
Predecessor [Member] | Restricted Stock [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	123,667
Predecessor [Member] | Employee Stock Option [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,727,667
Successor [Member] | Warrant [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		3,045,327
Successor [Member] | Restricted Stock [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		489,471
Successor [Member] | Employee Stock Option [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		975,312

Note_9_Earnings_Loss_Per_Commo3

Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Successor [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted [Line Items]
Net Loss	($20,667,064)
Weighted Average Shares-Basic	37,527,010
Weighted Average Shares Diluted	37,527,010
Basic loss Per Share	($0.55)
Diluted loss Per Share	($0.55)
Predecessor [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted [Line Items]
Net Loss		($22,589,886)
Weighted Average Shares-Basic		17,080,190
Weighted Average Shares Diluted		17,080,190
Basic loss Per Share		($1.32)
Diluted loss Per Share		($1.32)

Note_10_Stock_Incentive_Plans_

Note 10 - Stock Incentive Plans (Details) (USD $)	0 Months Ended			3 Months Ended
	Apr. 27, 2015	Oct. 15, 2014	Mar. 09, 2015	Mar. 31, 2015	Mar. 31, 2014
Subsequent Event [Member] | Equity Incentive Plan [Member] | Chief Operating Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)	40,000
With Different Striking Prices [Member] | 2014 Management Incentive Plan [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Percent of Common Stock for Distribution		5.50%
2014 Management Incentive Plan [Member] | Annual Installments [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
2014 Management Incentive Plan [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Percent of Common Stock for Distribution		2.00%
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award		four
Equity Incentive Plan [Member] | Chief Executive Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares)			270,270
Equity Incentive Plan [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)				489,471
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				4 years
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options (in Shares)				975,312
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share)				$18
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share)				$25.25
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term				4 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term				7 years
Allocated Share-based Compensation Expense				$1,884,452	$279,743
Non-cash Compensation Cost, Remainder of Fiscal Year				1,387,505
Non-cash Compensation Cost, Year Two				1,193,968
Non-cash Compensation Cost, Year Three				$636,921