Thislatest waiver extension gives Eagle until the end of May to reach an agreementwith holders of its $1.1bn term loan.
Withoutthe waivers, the company is not in compliance with loan covenants governingleverage and minimum interest coverage.
Eaglehas previously warned that there is no assurance that such discussions willresult in a comprehensive resolution.
Newsof the waiver extension came as Eagle reported a first quarter loss of $22.6mversus a profit of $1.4m in the same quarter in 2013.
The Sophocles Zoullas-ledshipowner said revenue was down over 36% to $45.8m, while total operatingexpenses were largely unchanged at $48.6m.
Eagle’s fleet of 45 bulkers is made up of 43 supramaxesand two handymaxes with a combined carrying capacity of 2.45mdwt and an averageage of about 6.9 years.
