Safe Bulkers News

Dry bulk shipowner Safe Bulkers on Wednesday announced it has reached deals to sell two of its vessels to undisclosed buyers.Through separate agreements, the Monaco-headquartered company will sell the 2010-built 92,000 dwt Post-Panamax Panayiota K at a gross sale price of $20.45 million and 2011-built 75,000 dwt Panamax Paraskevi 2 at a gross sale price of $20.3 million.The ships are scheduled to be delivered to their new owners in April and July 2024 respectively.Dr. Loukas Barmparis…

Dry bulk shipowner Safe Bulkers announced Monday it has has reached a deal to sell the oldest vessel in its fleet to an undisclosed buyer.The ship is the Maritsa, a 76,000 dwt Panamax bulk carrier built in Japan in 2005. The vessel was sold at a gross sale price of $12.2 million and a forward delivery date from April 2024 to May 2024, New York-listed Safe Bulkers said.Dr. Loukas Barmparis, president of Safe Bulkers, said, “We continue our strategy to selectively sell older vessels…

Dry bulk shipping company Safe Bulkers announced it has reached a deal to sell one of its Panamax bulk carriers for $22.5 million.The 75,000 dwt Efrossini, built in Japan in 2012, will be delivered to an undisclosed new owner in June 2023 and chartered back at a gross daily charter rate of $16,050 for a period of 10 to 14 months.Dr. Loukas Barmparis, president of Safe Bulkers, said, “Having ordered recently an additional IMO Phase 3 newbuild Kamsarmax vessel and sold a 2012 Panamax vessel, we continue our strategy to selectively sell relatively older tonnage and gradually replace it with newbuilds of latest available designs, aiming to improve our fleets’ environmental performance and increase our competitiveness in a new more stringent regulatory environment.’’

Dry bulk shipping company Safe Bulkers announced it has reached a deal to acquire a 81,800 dwt, dry-bulk, Kamsarmax class vessel at an attractive price with a scheduled to be delivered from a Japanese shipyard in the second quarter of 2025.This vessel, a sister to a number of newbuilds in Safe Bulkers' orderbook, features advanced energy efficiency characteristics and lower fuel consumption, the company said. It is designed to meet the Phase 3 requirements of Energy Efficiency…

In recent years, Greek shipowner Safe Bulkers has retrofitted Alfa Laval PureSOx exhaust gas cleaning systems on 20 of its bulk carriers. The company has just installed its 21st PureSOx scrubber, and four more retrofits are scheduled through the first half of 2023.Safe Bulkers is expanding the retrofit program for exhaust gas cleaning within its fleet. Having now retrofitted an open-loop PureSOx system on the MV Pelopidas, the company will retrofit equivalent systems on four Capesize bulk carriers: MV Aghia Sofia, MV Lake Despina, MV Maria and MV Michalis H.

Dry bulk shipping company Safe Bulkers announced on Monday that it has entered into an agreement to sell one of the older vessels in its fleet to an undisclosed buyer for $15.84 million.The vessel is the 2006 Japanese-built Kamsarmax Pedhoulas Trader. Its forward delivery date is expected within December 2022.Dr. Loukas Barmparis, president of Safe Bulkers, said, “We continued to sell older tonnage as we take delivery of our newbuild IMO Phase three vessels, improving the fleet environmental performance and increasing our competitiveness in the new more stringent regulatory environment.’’

Dry bulk shipping company Safe Bulkers announced it has entered into an agreement to acquire a secondhand Capesize bulk carrier for $33.8 million.The 181,000 dwt vessel was built in Japan in 2014. It will be renamed Maria and delivered to Safe Bulkers within February 2022. Safe Bulkers did not name the seller.Dr. Loukas Barmparis, Safe Bulkers president, said, “This will be our sixth Cape and the 40th vessel in our fleet. MV Maria is sister vessel to our recently acquired MV Stelios Y and was bought, at what we believe to be a competitive price, capitalizing on the Capesize market seasonal weakness.”New York-listed Safe Bulkers said it will finance the purchase from its cash reserves.

Dr bulk shipping company Safe Bulkers announced Wednesday that it has entered into an agreement for the sale of Pedhoulas Fighter, a 2012 Chinese-built Kamsarmax class bulk carrier at gross sale price of $23.7 million and forward delivery date within the fourth quarter of 2021.Including this agreement and the previously announced agreements, the company has sold seven vessels, acquired four second-hand vessels and ordered eight Japanese newbuild vessels with deliveries starting from the second quarter of 2022 through the first quarter of 2024.Dr.

Dry bulk cargo shipping company Safe Bulkers, Inc. has agreed to acquire three Japanese dry-bulk 82,000 dwt, Kamsarmax class vessels as part of its fleet renewal plans.The company, which ships coal, grain, and iron ore using its cargo ship fleet, said it would buy the three bulkers at attractive prices, without disclosing the exact amount it would pay, nor who the seller was.The first vessel is expected to be delivered within the fourth quarter of 2023. The other two cargo ships are slated for delivery within the fourth quarter of 2024."All three newbuild vessels are designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to Green House Gas emissions…

Dry bulk shipping company Safe Bulkers said it has entered into an agreement to acquire a 82,000 dwt Kamsarmax class bulk carrier. The newbuild is scheduled to be delivered from a Japanese shipyard in the fourth quarter of 2023.The company said it will finance the purchase using its cash reserves.Dr. Loukas Barmparis, president of the company, said, “We continue to invest in the most efficient, environmental friendly available vessels in the market, gradually renewing our fleet.’’The vessel is designed to meet the latest requirements of Energy Efficiency Design Index related to Green House Gas emissions ‘EEDI, Phase 3’ and also comply with the latest NOx emissions regulation…

Dry bulk shipping company Safe Bulkers announced on Wednesday it has entered into an agreement for the sale of Koulitsa, a 2003-built, Panamax class, dry-bulk vessel at gross sale price of $13.6 million and forward delivery date within the fourth quarter of 2021.Dr. Loukas Barmparis, president of the company, said, “The MV Koulitsa will be replaced by the previously announced acquisition of the 2013-built, Panamax class, dry-bulk vessel to be named MV Koulitsa 2, purchased at a price of $22 million with an expected delivery within July 2021, which has already been chartered at a gross daily charter rate of $24,000 for a period of twelve months. This transaction concludes the sale of all our vessels built prior to 2004.”

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

International provider of marine drybulk transportation  Safe Bulkers said that two of its vessels - MV Kypros Sky and MV Kypros Spirit - were sold and leased back recently on a bare-boat charter basis for a period of eight years.The Monaco-headquartered company said that with purchase options are in its favor  commencing three years following the commencement of the bare-boat charter period and a purchase obligation at the end of the bare-boat charter period, all at predetermined purchase prices.The company informed that MV Panayiota K and MV Agios Spyridonas were also sold and leased back in January 2020 on a bare-boat charter basis for a period of six years…

The Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers Safe Bulkers has sold and leased back eight ships to refinance $105.2m in loans coming due in 2023 and 2025.The New York-listed bulker owner said that it will receive $158.3m in proceeds from the transaction.Under the arrangements, two vessels were leased back, under bareboat charter agreements, for a period of six years and six vessels were leased back under bareboat charter agreements, for a period of eight years.Four of such arrangements contemplate a purchase obligation at the end of the bareboat charter period and purchase options commencing three years following commencement of the bareboat charter period…

The international provider of marine drybulk transportation services Safe Bulkers has entered into a service agreement  with Alfa Laval for 20 scrubber units on its vessels to meet the requirements of IMO 2020.According to the shipowner, the agreement is to minimize down time, enhance regulatory compliance and safeguard scrubber performance over the life-time of the vessel.The agreement provides for a flat yearly fee, lifecycle-oriented services from the Alfa Laval PureSOx 360° Service Portfolio, including remote monitoring of scrubber performance through connectivity module, service kits, minimum inventory of genuine Alfa Laval spares parts on board and ashore for remote trouble-shooting and sensor calibration by exchange.In addition…

Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers reported a net loss for the second quarter, contrary to the market’s expectations for profit.The net revenue at USD 45.5 million for Q2 was hurt by a 3% decline from the second quarter of 2018. For the second quarter, Safe Bulkers reported an adjusted loss of $0.01 per share, compared to earnings of $0.02 per share in the same period of last year.Dr. Loukas Barmparis, President of the Company, said: “In the first half of 2019 the charter market was weak. Since then the Baltic exchange Dry Index has risen to an average of 1,904 for the 3rd quarter to date and as a consequence we are now entering into charters at much higher rates.

Safe Bulkers, the provider of marine drybulk transportation services, announced that the first scrubber was successfully installed and commissioned on MV Martine, a Japanese, Post-Panamax class vessel, built in 2009.The US-listed operator of drybulk vessels for transporting bulk cargoes said that the scrubber is open loop, U-Type, Alfa Laval PureSOx and during commissioning has been tested in several loads complying comfortably with the stricter 0.1% sulfur fuel content limit applicable in Environmentally Controlled Areas (ECA).The installation of scrubber was done concurrently with ballast water treatment system during the scheduled dry-docking of the vessel…

Safe Bulkers, the provider of marine drybulk transportation services, said that it is on schedule in implementing its environmental investments installing scrubbers in approximately half of its  fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020."We also remain committed to installing ballast water treatment systems in each of our vessels," said Dr. Loukas Barmparis, President.Safe Bulkers said that its managers are certified in accordance with ISO 14001 and ISO 50001 related to environmental performance and energy efficiency, respectively."We have obtained environmental notation for 39 out of 41 of our vessels for the prevention of sea and air pollution…

The international provider of marine drybulk transportation services Safe Bulkers said that it had completed the  acquisition a second hand, Japanese, 181,400 dwt, Capesize class dry-bulk vessel the Mount Troodos, built in 2009 in the last quarter.The Monaco-based company said in a press release that: "We have  acquired Mount Troodos at what we consider an attractive price."The acquisition was financed from cash on hand and subsequent to quarter end with a new loan facility.Incidentally, the company signed an amendment to an existing loan facility of $32.0 million initially intended for two vessels, upsizing it to a total of $52.4 million…

Safe Bulkers has agreed with Cosco Shipping Heavy Industry, a detailed schedule within 2019 for the installation of Alfa Laval PureSOx scrubbers in about half of the Company’s fleet mainly in medium size vessels, Kamsarmax to Post-Panamax class.The international provider of marine drybulk transportation services said that more specifically it will install scrubbers in five Kamsarmax class vessels, in thirteen Post-Panamax class vessels and in the recently acquired Cape-size class vessel while it maintains an option for an additional scrubber.All preparatory engineering works are in progress targeting to initiate the first installation in second quarter of 2019 and the last installation in the fourth quarter of 2019…

Safe Bulkers announced that it has acquired a 181,000 dwt, Japanese, 2009-built, dry-bulk, Capesize class vessel at an attractive price. The acquisition was financed from cash on hand.The international provider of marine dry-bulk transportation services said that following a dry docking the vessel is expected to be employed in the time charter market.As of August 13, 2018, the weighted time charter average of the Baltic Exchange Cape Index (BCI AVG5TC) was $26,059 per day. Dr. Loukas Barmparis, President of the Company commented: “While we remain focused on the optimization of our capital structure by buying back later this month a Kamsarmax class vessel under sale and lease back agreement…

Safe Bulkers has entered into a Memorandum of Agreement with an unaffiliated seller to acquire a Japanese-built, dry-bulk, Post-Panamax class, resale, newbuild vessel. The vessel is expected to be delivered within the first half of 2020.The international provider of marine drybulk transportation services said in a press release that it has the option to finance up to 50% of the purchase price of the vessel through the periodic issuance of the Company’s common stock to the seller. Any such common stock issued by the Company will be subject to a restriction on transfer for a period of six months from the date of such issuance. The cash component of the purchase price will be financed with cash on hand.Dr.

Monaco-based Safe Bulkers said that its net revenues for the three months months period ended September 30, 2018 increased by 34% to $50.1 million from $37.3 million during the same period in 2017.The international provider of marine drybulk transportation services said in a press release that its net income for the third quarter of 2018 increased by 21% to $8.1 million from $6.7 million, during the same period in 2017. Adjusted net income for the third quarter of 2018 was $8.2 million as compared to adjusted net loss of $1.8 million, during the same period in 2017.Meanwhile, the net revenues for the nine months of 2018 increased by 33% to $140.6 million from $105.7 million during the same period in 2017.