Safe Bulkers, Inc. Acquires a Second-hand Panamax Class Dry-Bulk Vessel

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that in relation to its fleet renewal strategy, has entered into an agreement for the acquisition of a 2013-built, Japanese, 78,000 dwt Panamax class, dry-bulk vessel at a price of $22 million with a scheduled delivery date latest by August 2021. The acquisition of the vessel will be financed from the cash reserves of the Company.

Including this acquisition, the Company has ordered four EEDI-Phase 3 compliant, NOx-Tier III newbuild vessels, three of which post-Panamax and one Kamsarmax class; acquired two Japanese second-hand vessels, a 2011-built and the 2013-built Panamax class announced today and sold selectively five older vessels, three of which Panamax and two Kamsarmax class vessels.

Dr. Loukas Barmparis, President of the Company commented: “This new acquisition is part of our efforts to gradually renew our fleet through selective acquisition of younger second-hand Japanese built tonnage replacing older vessels or Chinese built vessels. The core part of our renewal strategy remains the acquisition of advanced design energy efficient newbuilds.”
Source: Safe Bulkers Inc.

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