Eagle Bulk Shipping (EGLE) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 14, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Eagle Bulk Shipping Inc.
Trading Symbol	egle
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		37,639,352
Amendment Flag	false
Entity Central Index Key	1,322,439
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	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - Successor [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 27,184,438	$ 39,975,287
Accounts receivable	11,537,826	14,731,301
Prepaid expenses	2,883,640	3,212,930
Inventories	6,297,658	5,749,273
Investment	2,138,447	8,300,740
Other current assets	3,004,678	4,621,312
Total current assets	53,046,687	76,590,843
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $28,674,281 and $8,766,830, respectively	805,048,200	834,052,684
Other fixed assets, net of accumulated amortization of $112,359 and $118,232, respectively	187,744	230,805
Restricted cash	66,243	66,243
Deferred drydock costs	9,534,157	1,960,792
Deferred financing costs	493,757	550,753
Other assets	424,702	424,702
Total noncurrent assets	815,754,803	837,285,979
Total assets	868,801,490	913,876,822
Current liabilities:
Accounts payable	9,457,029	11,663,697
Accrued interest	385,795	531,918
Other accrued liabilities	10,711,575	9,142,229
Fair value below contract value of time charters acquired	1,526,330	1,648,740
Unearned charter hire revenue	1,379,750	2,389,595
Current portion of long-term debt	15,625,000	15,625,000
Total current liabilities	39,085,479	41,001,179
Noncurrent liabilities:
Long-term debt	208,493,745	204,106,928
Other liabilities	563,181
Fair value below contract value of time charters acquired	4,008,286	4,678,049
Total noncurrent liabilities	213,065,212	208,784,977
Total liabilities	252,150,691	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	676,185,073	675,264,349
Accumulated deficit	(59,724,092)	(11,548,728)
Accumulated other comprehensive loss	(186,576)
Total stockholders' equity	616,650,799	664,090,666
Total liabilities and stockholders' equity	$ 868,801,490	$ 913,876,822

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - Successor [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accumulated depreciation, vessels (in Dollars)	$ 28,674,281	$ 8,766,830
Accumulated amortization, other fixed assets (in Dollars)	$ 112,359	$ 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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Revenues, net of commissions	$ 22,657,372		$ 48,988,538
Voyage expenses	3,156,304		8,338,479
Vessel expenses	21,671,397		43,616,108
Charter hire expenses	1,233,132		2,449,096
Depreciation and amortization	10,898,049		21,455,220
General and administrative expenses	4,355,499		9,294,497
Loss on sale of vessel	5,696,675		5,696,675
Total operating expenses	47,011,056		90,850,075
Operating loss	(24,353,684)		(41,861,537)
Interest expense	2,986,817		6,148,983
Interest Income			(2,955)
Other expense	167,799		167,799
Total other expense, net	3,154,616		6,313,827
Net loss	$ (27,508,300)		$ (48,175,364)
Weighted average shares outstanding:
Basic (in Shares)	37,639,352		37,583,491
Diluted (in Shares)	37,639,352		37,583,491
Per share amounts:
Basic net loss (in Dollars per share)	$ (0.73)		$ (1.28)
Diluted net loss (in Dollars per share)	$ (0.73)		$ (1.28)
Predecessor [Member]
Revenues, net of commissions		$ 42,380,059		$ 88,175,450
Voyage expenses		3,480,037		7,317,315
Vessel expenses		24,512,637		47,090,155
Depreciation and amortization		19,353,495		38,431,308
General and administrative expenses		3,143,152		6,266,085
Total operating expenses		50,489,321		99,104,863
Operating loss		(8,109,262)		(10,929,413)
Interest expense		28,380,928		48,154,547
Interest Income		(2,872)		(6,756)
Reorganization expenses		8,172,741		8,172,741
Total other expense, net		36,550,797		56,320,532
Net loss		$ (44,660,059)		$ (67,249,945)
Weighted average shares outstanding:
Basic (in Shares)		17,079,991		17,080,079
Diluted (in Shares)		17,079,991		17,080,079
Per share amounts:
Basic net loss (in Dollars per share)		$ (2.61)		$ (3.94)
Diluted net loss (in Dollars per share)		$ (2.61)		$ (3.94)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Net loss	$ (27,508,300)		$ (48,175,364)
Other comprehensive income:
Change in unrealized gain/(loss) on investment	172,976		(186,576)
Total other comprehensive income (loss)	172,976		(186,576)
Comprehensive loss	$ (27,335,324)		$ (48,361,940)
Predecessor [Member]
Net loss		$ (44,660,059)		$ (67,249,945)
Other comprehensive income:
Change in unrealized gain/(loss) on investment		1,402,577		(699,069)
Total other comprehensive income (loss)		1,402,577		(699,069)
Comprehensive loss		$ (43,257,482)		$ (67,949,014)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (Unaudited) - 6 months ended Jun. 30, 2015 - Successor [Member] - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Net Income [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Balance at at Dec. 31, 2014	$ 664,090,666	$ 375,045	$ 675,264,349		$ (11,548,728)
Balance at (in Shares) at Dec. 31, 2014		37,504,541
Net loss	(48,175,364)			$ (48,175,364)	(48,175,364)
Change in unrealized loss on investment	(186,576)					$ (186,576)
Vesting of restricted shares, net of shares withheld for employee tax	(1,285,506)	$ 1,349	(1,286,855)
Non-cash compensation	2,207,579		2,207,579
Balance at at Jun. 30, 2015	$ 616,650,799	$ 376,394	$ 676,185,073		$ (59,724,092)	$ (186,576)
Balance at (in Shares) at Jun. 30, 2015		37,504,541

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Cash flows from operating activities:
Net loss	$ (48,175,364)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation	20,523,130
Amortization of deferred drydocking costs	932,090
Amortization of deferred financing costs	56,996
Amortization of discount on Exit Facility	1,199,317
Amortization of fair value below contract value of time charter acquired	(792,173)
Loss on sale of vessel	5,696,675
Realized loss from investment	167,799
Non-cash compensation expense	2,207,579
Drydocking expenditures	(8,505,455)
Changes in operating assets and liabilities:
Accounts receivable	3,193,475
Other current assets	1,616,634
Prepaid expenses	329,290
Inventories	(548,385)
Accounts payable	(2,206,668)
Accrued interest	(146,123)
Other Accrued Liabilities	2,132,527
Unearned revenue	(1,009,845)
Net cash provided by/(used in) operating activities	(23,328,501)
Cash flows from investing activities:
Vessels and vessel improvements	(1,407,801)
Proceeds from sale of vessel	4,235,542
Proceeds from sale of investment	5,807,917
Net cash provided by/(used in) investing activities	8,635,658
Cash flows from financing activities:
Revolver loan	15,000,000
Repayment of Term Loan	(11,812,500)
Cash used to settle net share equity awards	(1,285,506)
Net cash provided by/(used in) financing activities	1,901,994
Net (decrease) / increase in cash and cash equivalents	(12,790,849)
Cash and cash equivalents at beginning of period	39,975,287
Cash and cash equivalents at end of period	$ 27,184,438
Predecessor [Member]
Cash flows from operating activities:
Net loss		$ (67,249,945)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation		36,954,796
Amortization of deferred drydocking costs		1,476,512
Amortization of deferred financing costs		12,235,555
Payment-in-kind interest on debt		14,803,454
Non-cash compensation expense		568,360
Drydocking expenditures		(2,391,412)
Changes in operating assets and liabilities:
Accounts receivable		(4,526,474)
Other current assets		(4,621,223)
Prepaid expenses		1,382,673
Inventories		935,100
Accounts payable		(966,434)
Accrued interest		10,622,948
Other Accrued Liabilities		4,501,795
Unearned revenue		(3,131,980)
Net cash provided by/(used in) operating activities		593,725
Cash flows from investing activities:
Vessels and vessel improvements		(149,756)
Purchase of other fixed assets		(36,445)
Net cash provided by/(used in) investing activities		(186,201)
Cash flows from financing activities:
Net (decrease) / increase in cash and cash equivalents		407,524
Cash and cash equivalents at beginning of period		19,682,724
Cash and cash equivalents at end of period		$ 20,090,248

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Business Description and Basis of Presentation [Text Block]	Note 1. Basis of Presentation and General Information The accompanying condensed 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 June 30, 2015, the Company owned and operated a modern fleet of 44 oceangoing vessels comprised of 43 Supramax vessels and 1 Handymax vessel with a combined carrying capacity of 2,404,064 dwt and an average age of approximately 7.9 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 that individually accounted for more than 10% of the Company's revenue during the periods indicated: % of Revenue Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Charterer Charterer A - 13% - 13% Charterer B* 27% 30% 28% 23% *Charter revenue from a pool that the Company participates. The accompanying condensed 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 condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) that management considers necessary for a fair statement of its 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 useful lives of fixed assets and intangibles, the period of amortization, the allowances for bad debt, and the fair value of warrants and stock-based compensation. 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 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 as a reduction of proceeds. 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 on the undrawn portion of the facility. 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 Business Combinations, 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 Pronoun

Note 2 - New Accounting Pronouncements	6 Months Ended
	Jun. 30, 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, as extended by the FASB, is effective for annual periods beginning after December 15, 2017, 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. 2014-15, “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	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 3. Vessels Vessels and Vessel Improvements At June 30, 2015, the Company’s operating fleet consisted of 44 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: Successor Vessels and Vessel Improvements, at December 31, 2014 $ 834,052,684 Purchase of Vessel Improvements 1,402,966 Disposal of vessel (9,932,216 ) Depreciation Expense (20,475,234 ) Vessels and Vessel Improvements, at June 30, 2015 $ 805,048,200 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 realized a net loss of $5,696,675 and received net proceeds of $4,235,542 related to the sale after the associated transaction costs.

Note 4 - Investment

Note 4 - Investment	6 Months Ended
	Jun. 30, 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 June 30, 2015 and for the Predecessor Company as of June 30, 2014, the change in the fair value of the KLC investment was “temporary”. The Company recorded cumulative unrealized losses in the amount of $0.2 million and $0.7 million as of June 30, 2015, and 2014 respectively. As of December 31, 2014, the Company recorded an impairment loss of $1.0 million. As such, there is no unrealized gain or (loss) as of December 31, 2014. The following table provides information on the Company’s investment in KLC capital stock which is recorded at fair value: No. of KLC Shares Cost Basis-Adjusted Fair Value Unrealized Loss reported in OCI Balance at January 1 , 201 4 (Predecessor) 566,529 $ 13,817,439 $ 13,817,439 - Fair Value-Adjustments, net - - (699,069 ) (699,069 ) Balance at June 3 0 , 2014 (Predecessor) 566,529 $ 13,817,439 $ 13,118,370 $ (699,069 ) Balance at January 1, 2015 (Successor) 387,453 $ 8,300,740 $ 8,300,740 - KLC Stock Sold (278,928 ) (5,975,717 ) (5,807,918 ) - Loss on sale of KLC Stock - - (167,799 ) - Fair Value-Adjustments, net - - (186,576 ) (186,576 ) Balance at June 3 0 , 2015 (Successor) 108,525 $ 2,325,023 $ 2,138,447 $ (186,576 )

Note 5 - Debt

Note 5 - Debt	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Long-term Debt [Text Block]	Note 5. Debt Long-term Debt consists of the following: Successor June 30, 2015 December 31, 2014 Exit Facility $ 228,187,500 $ 225,000,000 Discount on Facility (4,068,755 ) (5,268,072 ) Less: Current Portion (15,625,000 ) (15,625,000 ) Total long-term debt $ 208,493,745 $ 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 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 on the undrawn portion of the credit facility. 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 trailing twelve month period with the measurement beginning December 31, 2015; 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 principal repayment installments 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. On August 14, 2015, the Company entered into an Amendatory Agreement (the “Amendatory Agreement”) with certain Exit Lenders under the Exit Financing Facility. Pursuant to the Amendatory Agreement, the Exit Lenders have agreed to, among other things, defer the compliance with the minimum interest coverage covenant under the Exit Financing Facility from December 31, 2015 to December 31, 2016 and amend the method of calculating the Minimum Interest Coverage Ratio (as defined in the Exit Financing Facility) as follows: (i) on a trailing two quarter basis for the fiscal quarter ending December 31, 2016 (ii) on a trailing three quarter basis for the fiscal quarter ending March 31, 2017 and (iii) on a trailing four quarter basis for each succeeding fiscal quarter thereafter. Further, the Amendatory Agreement amended the minimum required security cover covenant under the Exit Financing Facility as follows: (i) for the period prior to June 30, 2016, 165 percent of the Loan (as defined in the Exit Financing Facility) (ii) for the period on or after July 1, 2016 and on or before October 14, 2017, 157.5 percent of the Loan and (iii) thereafter, 165 percent of the Loan. In connection with the Exit Lenders entering into the Amendatory Agreement, the Company shall pay an amendment fee of $0.5 million to the Exit Lenders. For the three months ended June 30, 2015, interest rates on our outstanding debt ranged from 4.05% to 4.08%, 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 including the amortization of debt discount for this period was 5.24% For the three months ended June 30, 2014, interest rate on the outstanding debt was 3.73%, including a margin of 3.50% over LIBOR. The weighted average effective interest rate for this period was 3.73%. For the six months ended June 30, 2015, interest rates on our outstanding debt ranged from 4.04% to 4.08%, 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 including the amortization of debt discount for this period was 5.41%. For the six months ended June 30, 2014, interest rates on the outstanding debt ranged from 3.62% to 3.73%, including a margin of 3.50% over LIBOR. The weighted average effective interest rate for this period was 3.69%. Interest Expense consisted of : Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Exit Financing Facility Interest $ 2,454,928 - $ 4,892,670 - Amortization of Facility Deferred Financing Costs 28,656 - 56,996 - Amortization of Discount on Facility 503,233 - 1,199,317 - Term loan Interest - $ 18,161,150 - $ 35,918,992 Amortization of Term Loan Deferred Financing Costs - 10,219,778 - 12,235,555 Total Interest Expense $ 2,986,817 $ 28,380,928 $ 6,148,983 $ 48,154,547 Interest paid amounted to $5,038,792 for the six months ended June 30, 2015 and $10,492,590, exclusive of PIK loans for the six months ended June 30, 2014.

Note 6 - Derivative Instruments

Note 6 - Derivative Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Derivatives and Fair Value [Text Block]	Note 6. Derivative Instruments and Fair Value Measurements 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— Debt Investment— 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 June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Investment $ 2,138,447 — — $ 8,300,740 — —

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 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 $11,419 and $10,708 for the three months ended June 30, 2015 and 2014, respectively. The Company paid average monthly technical management fees of $11,231 and $10,708 per vessel during the six months ended June 30, 2015 and 2014, respectively.

Note 8 - Former Related Party T

Note 8 - Former Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 8. Former 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, the above referenced Management Agreement was amended and restated (as so amended and restated, the “Amended Management Agreement”). As per 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. Following Mr. S. Zoullas’ resignation on March 9, 2015, the Company no longer considers the Amended Management Agreement to be a related party transaction. On May 22, 2015, the Company received a termination notice to the Amended Management Agreement from Delphin. The notice of termination was given pursuant to the terms of the Amended Management Agreement and will become effective as of August 22, 2015. Total management fees for the three and six month Successor periods ended June 30, 2015, amounted to $816,525 and $1,619,330 respectively. The advanced balance received from Delphin on account for the management of its vessels as of June 30, 2015 amounted to $156,936. The total reimbursable expenses for the three and six month periods ended June 30, 2015 amounted to $111,575 and $152,932 respectively. The balance due from Delphin as of June 3 0, 2015 amounted to $12,645. The balance due mainly consists of reimbursable expenses. Total management fees for the three and six month Predecessor periods ended June 30, 2014 amounted to $545,022 and $1,090,044 respectively. The advanced balance received from Delphin on account for the management of its vessels as of June 30, 2014 amounted to $1,357,469. The total reimbursable expenses for the three and six month periods ended June 30, 2014 amounted to $99,592 and $136,871 respectively. The balance due from Delphin as of June 30, 2014 amounted to $40,711. The balance due mainly consists of reimbursable expenses.

Note 9 - Earnings (Loss) Per Co

Note 9 - Earnings (Loss) Per Common Share	6 Months Ended
	Jun. 30, 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 June 30, 2015 and June 30, 2014 for the Successor and Predecessor, respectively. The Predecessor net loss per share for the period ended June 30, 2014 reflects the weighted average of the underlying warrant shares issuable upon exercise of the 146,889 warrants at the exercise price of $0.01 per share. Diluted net loss per share as of June 30, 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 June 30, 2015 does not include 249,550 stock awards, 535,312 stock options and 3,045,327 warrants as their effect was anti-dilutive. Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net loss $ (27,508,300 ) $ (44,660,059 ) $ (48,175,364 ) $ (67,249,945 ) Weighted Average Shares – Basic 37,639,352 17,079,991 37,583,491 17,080,079 Dilutive effect of stock options and restricted stock units - - - - Weighted Average Shares - Diluted 37,639,352 17,079,991 37,583,491 17,080,079 Basic Loss Per Share $ (0.73 ) $ (2.61 ) $ (1.28 ) $ (3.94 ) Diluted Loss Per Share $ (0.73 ) $ (2.61 ) $ (1.28 ) $ (3.94 )

Note 10 - Stock Incentive Plans

Note 10 - Stock Incentive Plans	6 Months Ended
	Jun. 30, 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. On June 12, 2015, the Company granted 55,000 restricted shares to an employee. The fair value of the New Eagle MIP Primary Equity equivalent to the market value at the date of grant was $493,900. Amortization of this charge, which is included in the General and administrative expenses, for the quarter ended June 30, 2015, was $35,194. On July 7, 2015, the Company announced that it appointed Gary Vogel as Chief Executive Officer of the Company, effective as of September 1, 2015 (the “CEO Effective Date”). The Company entered into an employment agreement with Mr. Vogel on July 6, 2015. Pursuant to the employment agreement, Mr. Vogel will receive at or after the effective date 325,000 restricted shares of common stock of the Company, an option to purchase 325,000 shares of Common Stock at an exercise price per share equal to the fair market value of the Common Stock as of the grant date, and an option to purchase 325,000 shares of Common Stock at an exercise price per share equal to the greater of $13.00 or the fair market value of the Common Stock as of the grant date. The options shall have a five year term and shall vest ratably on each of the first four anniversaries of the CEO Effective Date. All of the restricted shares shall vest on the third anniversary of the CEO Effective Date. As of June 30, 2015, stock awards covering a total of 249,660 of the Company’s shares are outstanding. The stock awards vest ratably over four years. The Company is amortizing to General and Administrative expenses the fair value of the non-vested stock awards at the grant date over the vesting period. As of June 30, 2015, options covering 535,312 of the Company’s common shares are outstanding with exercise prices ranging from $18.00 to $25.25 per share (the market prices at the dates of grants). The options granted to members of the Company's 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 June 30, 2015 and 2014, the Company has recorded non-cash compensation charges included in General and administrative expenses of $323,128 and $288,617, respectively. For the six months ended June 30, 2015 and 2014, the Company has recorded non-cash compensation charges included in General and administrative expenses of $2,207,579 and $568,360, respectively. The estimated remaining expense for each of the years ending 2015, 2016 and 2017 will be $1,248,529, $1,403,491 and $747,641, respectively.

Note 1 - Basis of Presentatio18

Note 1 - Basis of Presentation and General Information (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Schedule Of Consolidated Revenue From Major Charters [Table Text Block]	% of Revenue Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Charterer Charterer A - 13% - 13% Charterer B* 27% 30% 28% 23%

Note 3 - Vessels (Tables)

Note 3 - Vessels (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule Of Vessel And Vessl Improvements [Table Text Block]	Successor Vessels and Vessel Improvements, at December 31, 2014 $ 834,052,684 Purchase of Vessel Improvements 1,402,966 Disposal of vessel (9,932,216 ) Depreciation Expense (20,475,234 ) Vessels and Vessel Improvements, at June 30, 2015 $ 805,048,200

Note 4 - Investment (Tables)

Note 4 - Investment (Tables)	6 Months Ended
	Jun. 30, 2015
Investments Schedule [Abstract]
Investment [Table Text Block]	No. of KLC Shares Cost Basis-Adjusted Fair Value Unrealized Loss reported in OCI Balance at January 1 , 201 4 (Predecessor) 566,529 $ 13,817,439 $ 13,817,439 - Fair Value-Adjustments, net - - (699,069 ) (699,069 ) Balance at June 3 0 , 2014 (Predecessor) 566,529 $ 13,817,439 $ 13,118,370 $ (699,069 ) Balance at January 1, 2015 (Successor) 387,453 $ 8,300,740 $ 8,300,740 - KLC Stock Sold (278,928 ) (5,975,717 ) (5,807,918 ) - Loss on sale of KLC Stock - - (167,799 ) - Fair Value-Adjustments, net - - (186,576 ) (186,576 ) Balance at June 3 0 , 2015 (Successor) 108,525 $ 2,325,023 $ 2,138,447 $ (186,576 )

Note 5 - Debt (Tables)

Note 5 - Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Schedule of Debt [Table Text Block]	Successor June 30, 2015 December 31, 2014 Exit Facility $ 228,187,500 $ 225,000,000 Discount on Facility (4,068,755 ) (5,268,072 ) Less: Current Portion (15,625,000 ) (15,625,000 ) Total long-term debt $ 208,493,745 $ 204,106,928
Schedule of Interest Expense Excluding Capitalized Interest [Table Text Block]	Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Exit Financing Facility Interest $ 2,454,928 - $ 4,892,670 - Amortization of Facility Deferred Financing Costs 28,656 - 56,996 - Amortization of Discount on Facility 503,233 - 1,199,317 - Term loan Interest - $ 18,161,150 - $ 35,918,992 Amortization of Term Loan Deferred Financing Costs - 10,219,778 - 12,235,555 Total Interest Expense $ 2,986,817 $ 28,380,928 $ 6,148,983 $ 48,154,547

Note 6 - Derivative Instrumen22

Note 6 - Derivative Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Investment $ 2,138,447 — — $ 8,300,740 — —

Note 9 - Earnings (Loss) Per 23

Note 9 - Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended Successor Predecessor Successor Predecessor June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net loss $ (27,508,300 ) $ (44,660,059 ) $ (48,175,364 ) $ (67,249,945 ) Weighted Average Shares – Basic 37,639,352 17,079,991 37,583,491 17,080,079 Dilutive effect of stock options and restricted stock units - - - - Weighted Average Shares - Diluted 37,639,352 17,079,991 37,583,491 17,080,079 Basic Loss Per Share $ (0.73 ) $ (2.61 ) $ (1.28 ) $ (3.94 ) Diluted Loss Per Share $ (0.73 ) $ (2.61 ) $ (1.28 ) $ (3.94 )

Note 1 - Basis of Presentatio24

Note 1 - Basis of Presentation and General Information (Details) $ / shares in Units, $ in Millions	Oct. 09, 2014USD ($)$ / sharesshares	Oct. 02, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Oct. 15, 2019USD ($)
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			44		44
Dead Weight Tonnage Of Operating Fleet			2,404,064		2,404,064
Average Age In Years Of Operating Fleet		7 years			7 years 328 days
Line of Credit Facility, Commitment Fee Amount (in Dollars) | $	$ 5.5
Line of Credit [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | $							$ 275
Debt Instrument, Basis Spread on Variable Rate				3.50%		3.50%
Line of Credit Facility, Commitment Fee Percentage			40.00%		40.00%
Line of Credit [Member] | Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Commitment Fee Percentage	40.00%
Revolving Credit Facility [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | $							$ 50
Line of Credit Facility, Commitment Fee Percentage	40.00%
Supramax Vessels [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			43		43
Handymax Vessels [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Vessels In Operation			1		1
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%
Management Equity Incentive Plan [Member] | Employee Stock Option [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
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Bankruptcy, Exchanged to Common Stockholders [Member] | Cancellation of All Outstanding Equity Interests [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%
Bankruptcy, Exchanged to Common Stockholders [Member] | Extinguishment of All Loans and other Obligations [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%
New Eagle Equity Warrants [Member] | Subsequent Event [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
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares	$ 27.82
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
Warrant, Term	7 years
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares)	1
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Line of Credit [Member] | Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Line of Credit [Member] | Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 1 - Basis of Presentation and General Information (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.00%

Note 1 - Basis of Presentatio25

Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Charterer A [Member] | Predecessor [Member]
Charterer
Charterer			13.00%		13.00%
Charterer B [Member] | Successor [Member]
Charterer
Charterer	[1]	27.00%		28.00%
Charterer B [Member] | Predecessor [Member]
Charterer
Charterer	[1]		30.00%		23.00%
[1]	Charter revenue from a pool that the Company participates.

Note 3 - Vessels (Details)

Note 3 - Vessels (Details)	May. 07, 2015USD ($)	Apr. 30, 2015USD ($)	Jun. 30, 2015	Oct. 15, 2014USD ($)
Note 3 - Vessels (Details) [Line Items]
Number Of Vessels			44
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, before Associated Costs		$ 4,297,100
Gain (Loss) on Disposition of Property Plant Equipment	$ (5,696,675)
Proceeds from Sale of Property, Plant, and Equipment	$ 4,235,542

Note 3 - Vessels (Details) - Ve

Note 3 - Vessels (Details) - Vessels - Successor [Member]	6 Months Ended
	Jun. 30, 2015USD ($)
Successor
Vessels and Vessel Improvements, at	$ 805,048,200
Vessels and Vessel Improvements [Member]
Successor
Vessels and Vessel Improvements, at	805,048,200
Purchase of Vessel Improvements	1,402,966
Disposal of vessel	(9,932,216)
Depreciation Expense	$ (20,475,234)

Note 4 - Investment (Details)

Note 4 - Investment (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Note 4 - Investment (Details) [Line Items]
Other than Temporary Impairment Losses, Investments			$ (1)
Korea Line Corporation [Member]
Note 4 - Investment (Details) [Line Items]
Unrealized Gain (Loss) on Investments	$ (0.2)	$ (0.7)	$ 0

Note 4 - Investment (Details) -

Note 4 - Investment (Details) - Summary of KLC Capital Stock - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Predecessor [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
Unrealized Loss reported in OCI		$ 1,402,577		$ (699,069)
Predecessor [Member] | Korea Line Corporation [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
KLC Shares (in Shares)				566,529
Cost Basis-Adjusted				$ 13,817,439
Fair Value				$ 13,817,439
KLC Shares (in Shares)		566,529		566,529
Cost Basis-Adjusted		$ 13,817,439		$ 13,817,439
Unrealized Loss reported in OCI				(699,069)
Fair Value		$ 13,118,370		13,118,370
Unrealized Loss reported in OCI				(699,069)
Fair Value Adjustment				$ (699,069)
Successor [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
Unrealized Loss reported in OCI	$ 172,976		$ (186,576)
Loss on sale of KLC Stock			$ (167,799)
Successor [Member] | Korea Line Corporation [Member]
Note 4 - Investment (Details) - Summary of KLC Capital Stock [Line Items]
KLC Shares (in Shares)			387,453
Cost Basis-Adjusted			$ 8,300,740
Fair Value			$ 8,300,740
KLC Shares (in Shares)	108,525		108,525
Cost Basis-Adjusted	$ 2,325,023		$ 2,325,023
Unrealized Loss reported in OCI			(186,576)
Fair Value	$ 2,138,447		$ 2,138,447
KLC Stock Sold (in Shares)			(278,928)
KLC Stock Sold			$ (5,975,717)
KLC Stock Sold			(5,807,918)
Loss on sale of KLC Stock			(167,799)
Unrealized Loss reported in OCI			(186,576)
Fair Value Adjustment			$ (186,576)

Note 5 - Debt (Details)

Note 5 - Debt (Details)	Aug. 12, 2015	Oct. 09, 2014USD ($)$ / item	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Oct. 15, 2019USD ($)
Note 5 - Debt (Details) [Line Items]
Charters Agreement Term		18 months
Interest Paid (in Dollars)					$ 5,038,792
Fourth Amended and Restated Credit Agreement [Member] | Commencing In Quarterly Period Ending December 31 2013 [Member]
Note 5 - Debt (Details) [Line Items]
Interest Paid (in Dollars)						$ 10,492,590
Line of Credit [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)							$ 275,000,000
Line of Credit Facility, Commitment Fee Percentage			40.00%		40.00%
Debt Instrument, Covenant, Percentage of Aggregate Principal, Minimum Threshold		150.00%
Debt Instrument, Covenant, Percentage of Aggregate Principal, Maximum Threshold		165.00%
Debt Instrument, Covenant, Maximum Indebtedness		0.65
Debt Instrument, Covenant, EBITDA to Interest, Minimum Multiple		2.5
Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold (in Dollars)		$ 20,000,000
Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold per Vessel (in Dollars per Item) | $ / item		500,000
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum			4.05%		4.04%	3.62%
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum			4.08%		4.08%	3.73%
Debt Instrument, Interest Rate During Period				3.73%
Debt Instrument, Basis Spread on Variable Rate				3.50%		3.50%
Line of Credit [Member] | Subsequent Event [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Commitment Fee Percentage		40.00%
Amendment Fee (in Dollars)		$ 500,000
Line of Credit [Member] | Subsequent Event [Member] | Until June 30, 2016 [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Minimum Required Security Cover	165.00%
Line of Credit [Member] | Subsequent Event [Member] | Period between July 1, 2016 and October 14, 2017 [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Minimum Required Security Cover	157.50%
Line of Credit [Member] | Subsequent Event [Member] | After October 14, 2017 [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Minimum Required Security Cover	165.00%
Revolving Credit Facility [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)							$ 50,000,000
Line of Credit Facility, Commitment Fee Percentage		40.00%
Weighted Average [Member] | Line of Credit [Member] | Restructuring Support Agreement and Plan of Reorganization [Member]
Note 5 - Debt (Details) [Line Items]
Debt Instrument, Interest Rate During Period			5.24%	3.73%	5.41%	3.69%

Note 5 - Debt (Details) - Summa

Note 5 - Debt (Details) - Summary of Debt - Successor [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Note 5 - Debt (Details) - Summary of Debt [Line Items]
Exit Facility	$ 228,187,500	$ 225,000,000
Discount on Facility	(4,068,755)	(5,268,072)
Less: Current Portion	(15,625,000)	(15,625,000)
Total long-term debt	$ 208,493,745	$ 204,106,928

Note 5 - Debt (Details) - Inter

Note 5 - Debt (Details) - Interest Expense - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Exit Financing Facility Interest	$ 2,454,928		$ 4,892,670
Amortization of Deferred Financing Costs			56,996
Total Interest Expense	2,986,817		6,148,983
Amortization of Discount on Facility	503,233		1,199,317
Successor [Member] | Line of Credit [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs	$ 28,656		$ 56,996
Predecessor [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs				$ 12,235,555
Total Interest Expense		$ 28,380,928		48,154,547
Term loan Interest		18,161,150		35,918,992
Predecessor [Member] | Term Loan [Member]
Note 5 - Debt (Details) - Interest Expense [Line Items]
Amortization of Deferred Financing Costs		$ 10,219,778		$ 12,235,555

Note 6 - Derivative Instrumen33

Note 6 - Derivative Instruments and Fair Value Measurements (Details) - Summary of Assets and Liabilities Measured at Fair Value - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Assets:
Investment	$ 2,138,447	$ 8,300,740

Note 7 - Commitments and Cont34

Note 7 - Commitments and Contingencies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Note 7 - Commitments and Contingencies (Details) [Line Items]
Monthly Technical Management Fees	$ 11,419		$ 11,231
Predecessor [Member]
Note 7 - Commitments and Contingencies (Details) [Line Items]
Monthly Technical Management Fees		$ 10,708		$ 10,708

Note 8 - Former Related Party35

Note 8 - Former Related Party Transactions (Details)	3 Months Ended		6 Months Ended		10 Months Ended	62 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Aug. 22, 2015$ / item	Oct. 14, 2014USD ($)
Note 8 - Former Related Party Transactions (Details) [Line Items]
Number Of Vessels	44		44
Delphin Shipping Llc [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Agreement Term						1 year
Management Agreement Renewal Term						1 year
Management Fees Revenue, Per Vessel, Per Day (in Dollars per Item) | $ / item					700
Commercial Management Fee, Percent of Charter Hire					1.25%
Delphin Shipping Llc [Member] | Successor [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Fees Revenue	$ 816,525		$ 1,619,330
Advance Balance Received			156,936
Reimbursement Of Expenses	111,575		152,932
Due from Related Parties	$ 12,645		$ 12,645
Delphin Shipping Llc [Member] | Predecessor [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Fees Revenue		$ 545,022		$ 1,090,044
Advance Balance Received				1,357,469
Reimbursement Of Expenses		99,592		136,871
Due from Related Parties		$ 40,711		$ 40,711
Delphin Shipping Llc [Member] | First Ten Vessels [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month						$ 15,834
Number Of Vessels						10
Delphin Shipping Llc [Member] | Second Ten Vessels [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month						$ 11,667
Number Of Vessels						10
Delphin Shipping Llc [Member] | Third Ten Vessels [Member]
Note 8 - Former Related Party Transactions (Details) [Line Items]
Management Fees Revenue, Per Vessel, Per Month						$ 8,750
Number Of Vessels						10

Note 9 - Earnings (Loss) Per 36

Note 9 - Earnings (Loss) Per Common Share (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Predecessor [Member] | Warrant [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) [Line Items]
Weighted Average Underlying Warrant Shares Issuable		146,889
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	249,550
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	535,312

Note 9 - Earnings (Loss) Per 37

Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted [Line Items]
Net loss	$ (27,508,300)		$ (48,175,364)
Weighted Average Shares – Basic	37,639,352		37,583,491
Weighted Average Shares - Diluted	37,639,352		37,583,491
Basic Loss Per Share	$ (0.73)		$ (1.28)
Diluted Loss Per Share	$ (0.73)		$ (1.28)
Predecessor [Member]
Note 9 - Earnings (Loss) Per Common Share (Details) - Earnings Per Share, Basic and Diluted [Line Items]
Net loss		$ (44,660,059)		$ (67,249,945)
Weighted Average Shares – Basic		17,079,991		17,080,079
Weighted Average Shares - Diluted		17,079,991		17,080,079
Basic Loss Per Share		$ (2.61)		$ (3.94)
Diluted Loss Per Share		$ (2.61)		$ (3.94)

Note 10 - Stock Incentive Pla38

Note 10 - Stock Incentive Plans (Details) - USD ($)	Sep. 01, 2015	Jun. 12, 2015	Apr. 27, 2015	Mar. 09, 2015	Oct. 15, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Scenario, Forecast [Member] | Chief Executive Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Minimum Exercise Price (in Dollars per share)	$ 13
Restricted Stock [Member] | Scenario, Forecast [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, Grants in Period (in Shares)	325,000
Employee Stock Option [Member] | Scenario, Forecast [Member] | Chief Executive Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
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, Award Vesting Period					4 years
2014 Management Incentive Plan [Member] | Former 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
2014 Management Incentive Plan [Member] | Former 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
2014 Management Incentive Plan [Member] | With Different Striking Prices [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Percent of Common Stock for Distribution					5.50%
2014 Management Incentive Plan [Member] | Restricted Stock [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares)		55,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Fair Value		$ 493,900
2014 Management Incentive Plan [Member] | Restricted Stock [Member] | General and Administrative Expense [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Allocated Share-based Compensation Expense						$ 35,194
Equity Incentive Plan [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period								4 years
Allocated Share-based Compensation Expense						$ 323,128	$ 288,617	$ 2,207,579	$ 568,360
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)						249,660		249,660
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options (in Shares)						535,312		535,312
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
Non-cash Compensation Cost, Remainder of Fiscal Year						$ 1,248,529		$ 1,248,529
Non-cash Compensation Cost, Year Two						1,403,491		1,403,491
Non-cash Compensation Cost, Year Three						$ 747,641		$ 747,641
Exercise Price per Share Equal to Fair Market Value of Common Stock [Member] | Scenario, Forecast [Member] | Chief Executive Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	325,000
Exercise Price per Share Equal $13.00 per Share or to Fair Market Value of Common Stock [Member] | Scenario, Forecast [Member] | Chief Executive Officer [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	325,000
Annual Installments [Member] | 2014 Management Incentive Plan [Member]
Note 10 - Stock Incentive Plans (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%

Uncategorized Items - egle-2015

Label	Element	Value
Vessels And Vessel Improvements [Member] | Successor [Member]
Vessels and vessel improvements, at cost, net of accumulated depreciation of $28,674,281 and $8,766,830, respectively	egle_VesselsAndVesselImprovementsNet	$ 834,052,684