An 11-year Eagle Bulk Shipping veteran who has played a key role in the company's fleet renewal and expansion has been rewarded with a promotion.

Costa Tsoutsoplides has been named to the newly created position of chief strategy officer, the New York-listed shipowner announced after market close on Wednesday.

Tsoutsoplides is one of the few Eagle senior managers to be a holdover from the "old" Eagle team in place before current chief executive officer Gary Vogel took over the helm in 2016.