Safe Bulkers has entered into a contract to purchase a dry bulk Kamsarmax-class vessel for $34m.

The 82,000dwt vessel will be built at a Chinese shipyard and will be delivered by 2011.

The order will expand the company’s fleet to 23 ships with a deadweight capacity of approximately 2.1 million tons by 2013.

Safe Bulkers is a provider of marine dry bulk transportation services.