An $85m equity raise completed by Eagle Bulk this week has shown new risk capital is available to the depressed dry bulk market at a time of tight financing for shipping across the board.

Eagle revealed after the US market close on Tuesday that it had completed a transaction that provides a landmark for the Gary Vogel-led owner and finance house Fearnley Securities, which handled its first US fund-raiser less than a year after its entry into the New York finance scene.

Marius