Fleet Renewal: Safe Bulkers to Buy Three 82,000 dwt Bulk Carriers

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, (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," Safe Bulkers said. 

As of July 31, 2020, Safe Bulkers' operational fleet comprised of 42 drybulk vessels, 11 of which eco-design, with an average age of 9.5 years and an aggregate carrying capacity of 3,862,000 million dwt. 

Commenting on the acquisition of three Kamsarmax vessels, Dr. Loukas Barmparis, President of the Company, said: “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 secondhand acquisitions are in the context of our strategy to replace older or Chinese-built vessels, six of which have been sold until now.”

Worth noting, this is the second vessel acquisition deal announced by Safe Bulkers in July. Earlier this month, the dry bulk shipping company said it had signed a deal to acquire an 82,000 dwt Kamsarmax class bulk carrier. The newbuild is scheduled to be delivered from a Japanese shipyard in the fourth quarter of 2023.