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June 17, 2021

Safe Bulkers purchases 2013-built Panamax class dry-bulk vessel

The 78,000dwt vessel is expected to be delivered by August.

Greece-based marine dry-bulk transportation services provider Safe Bulkers has agreed to acquire a Japanese 2013-built Panamax class dry-bulk vessel for $22m.

The 78,000 deadweight ton (dwt) vessel, acquired under the company’s fleet renewal strategy, is expected to be delivered by August.

The transaction will be financed using cash reserves.

Counting this deal, Safe Bulkers has ordered four EEDI-Phase 3 compliant, NOx-Tier III newbuild ships.

Out of the four vessels, three are post-Panamax class and one is Kamsarmax class.

So far, the company has purchased two Japanese second-hand ships, a 2011-built and the latest 2013-built Panamax class vessel.

It has also sold five of its older vessels, of which three were Panamax class and two Kamsarmax class ships.

Safe Bulkers president Dr Loukas Barmparis said: “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.”

Last month, Safe Bulkers signed agreements to acquire two Japanese-built dry-bulk Post-Panamax class newbuild vessels.

These 87,000dwt ships are scheduled to be delivered by Q1 and Q2 of 2023, respectively.

In addition, the company agreed to sell two Chinese 2012-built Kamsarmax class vessels for $22.5m and $22m, respectively.

These 82,000dwt ships are slated to be delivered within Q2 and Q3 of 2021, respectively.

Safe Bulkers transports bulk cargoes, such as coal, grain and iron ore, along worldwide shipping routes.

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