Safe Bulkers, Inc. Entered into an Agreement for the Acquisition of Three Kamsarmax Class Dry-bulk Japanese Vessels

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that in relation to its fleet renewal strategy, it has entered into agreements for the acquisition of three Japanese dry-bulk 82,000 dwt, Kamsarmax class vessels at attractive prices with scheduled delivery dates within the fourth quarter of 2023 for one vessel and within the first quarter of 2024, for the other two vessels.

All three newbuild vessels are designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to Green House Gas emissions, (GHG-EEDI, Phase 3) and also comply with the latest NOx emissions regulation, (NOx-Tier III) and will be financed from the cash reserves of the Company.

Dr. Loukas Barmparis, President of the Company, commented: “We are continuing our fleet renewal strategy, by ordering three additional vessels, bringing the total number of newbuilds to eight GHG-EEDI Phase 3, NOx-Tier III. In parallel, the Company has already acquired two younger second hand vessels. Newbuild orders and second hand acquisitions are in the context of our strategy to replace older or Chinese-built vessels, six of which have been sold until now.”