New York-based Eagle Bulk Shipping has received the Bittern, a 58,000t Supramax dry bulk vessel.

According to a statement, the 26th vessel of the company’s fleet has entered into a ten-year time charter with $18,850 a day through December 2014.

The contract will be converted to a profit-sharing charter thereafter, with a base rate of $18,000 a day, Eagle said.

In aggregate, the Bittern will contribute approximately $62m in minimum contracted revenue.

According to the company, the Bittern is the first of a series of 58,000t Supramax class vessels, which will become part of the Eagle Bulk fleet over the next two years.

Eagle Bulk Shipping owns Supramax dry bulk vessels ranging from 50,000 to 60,000t, and transports cargo ships transporting including iron ore, coal, grain, cement and fertiliser.