FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GOLDENTREE ASSET MANAGEMENT LP   2. Issuer Name and Ticker or Trading Symbol Eagle Bulk Shipping Inc. [EGLE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) __X__ Other (specify below) See Remarks (Last) (First) (Middle) 300 PARK AVENUE, 21ST FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 08/10/2016 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share ("Common Stock") 08/10/2016   P   3,482,824 A $ 3 3,575,707 I See footnotes (1) (3) Common Stock 08/10/2016   P   188,746 A $ 3 195,520 I See footnotes (1) (4) Common Stock 08/10/2016   P   714,518 A $ 3 714,519 I See footnotes (1) (10) Common Stock               2,748 D (1) (2)   Common Stock               8,484 I See footnotes (1) (5) Common Stock               17,505 I See footnotes (1) (6) Common Stock               117,791 I See footnotes (1) (7) Common Stock               19,268 I See footnotes (1) (8) Common Stock               3,215 I See footnotes (1) (9)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GOLDENTREE ASSET MANAGEMENT LP 300 PARK AVENUE 21ST FLOOR NEW YORK, NY 10022		X		See Remarks
GoldenTree Asset Management LLC 300 PARK AVENUE 21ST FLOOR NEW YORK, NY 10022		X		See Remarks
Tananbaum Steven A. 300 PARK AVENUE 21ST FLOOR NEW YORK, NY 10022		X		See Remarks

Signatures

GoldenTree Asset Management LP, By: GoldenTree Asset Management LLC, its General Partner, By: /s/ Steven A. Tananbaum, its Managing Member		08/12/2016
**Signature of Reporting Person		Date
GoldenTree Asset Management LLC, By: /s/ Steven A. Tananbaum, its Managing Member		08/12/2016
**Signature of Reporting Person		Date
/s/ Steven A. Tananbaum		08/12/2016
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	See Exhibit 99.1; footnote (1).
(2)	See Exhibit 99.1; footnote (2).
(3)	See Exhibit 99.1; footnote (3).
(4)	See Exhibit 99.1; footnote (4).
(5)	See Exhibit 99.1; footnote (5).
(6)	See Exhibit 99.1; footnote (6).
(7)	See Exhibit 99.1; footnote (7).
(8)	See Exhibit 99.1; footnote (8).
(9)	See Exhibit 99.1; footnote (9).
(10)	See Exhibit 99.1; footnote (10).
Remarks: List of Exhibits: Exhibit 99.1:  Explanation of Responses Solely for purposes of Section 16 of the Exchange Act, each of the Advisor and, by virtue of their control of the Advisor, the General Partner and Steven A. Tananbaum may be deemed to be directors-by-deputization by virtue of the contractual right of the Advisor to designate a member of the board of directors of EGLE.  Casey Shanley has been designated by the Advisor to serve as a member of EGLE's board of directors.

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