“‘Twas the Night Before Christmas”

It is never to late to talk about a Christmas miracle and it appears that Messrs. Zoullas and Ginsberg of Eagle Bulk Shipping may have pulled one off. Although we do not know Mr. Zoullas all that well, we are well acquainted with Mr. Ginsberg’s capabilities under fire having watched him carefully manage the demise of the Nakash Brothers’ (Jordache ) adventure in shipping through its Kedma operation in the mid-1980s. With little support from the owners and the assistance of a chartering man, Alan was a proverbial one-armed paperhanger. In what was previously one of the most turbulent times in shipping, Alan was fixing, scrapping and repairing ships. Payables and receivables were carefully managed, as there was no cash. Yet somehow the banks, of which RBS was one, were

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