Eagle Bulk Shipping has found a buyer for one of two supramaxes it has been circulating in sale-and-purchase markets, as part of a continuing fleet renewal push.

The New York-listed shipowner, which is in the process of being taken over by larger Star Bulk Carriers, has committed the 56,000-dwt Stellar Eagle (built 2009) to a deal that would see the ship go to an unnamed European buyer, a market source said.