Loukas Barmparis 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.’’

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.”

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…

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, 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…

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.

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…

Greece-based Safe Bulkers (SB) has reported a loss of $4.6 million in its fourth quarter. On a per-share basis, it has a loss of 9 cents. Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015. For the year, the company reported that its loss narrowed to $56 million, or 83 cents per share. Revenue was reported as $109.8 million. Net revenues for the twelve months of 2016 decreased by 14% to $109.8 million as compared to $127.3 million during the same period in 2015. Dr. Loukas Barmparis, President of the Company, said: “Although the chartering market improved in the last quarter of 2016 from historical lows, it still remains at unprofitable levels.

Greece's Safe Bulkers, Inc. has set the price of its public offering offering of shares. The Company says it plans to use the net proceeds of the public offering to fund its newbuilding program and for other general corporate purposes, which may include repayment of indebtedness. The public offering of 2,800,000 shares of its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series D Preferred Shares”) was priced at $25.00 per share. SafeBulkers add that the gross proceeds from the Public Offering before the underwriting discount and other offering expenses are expected to be approximately $70 million. The offering is expected to close on or about June 30, 2014, subject to customary closing conditions.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that the Company has agreed to amend an existing loan facility secured by four vessels with an outstanding balance of US $51.8 million, delaying the balloon payment initially scheduled to be made in 2019 for 2022. * The total consolidated liabilities of the Company divided by its total consolidated assets must not exceed 85%. * The aggregate market value of the four vessels under the facility divided by the aggregate outstanding loan value must exceed 110% until year end 2017 and 120% from 2018 onwards. * The ratio of the Company’s EBITDA1 to its interest expense must be not less than 2.0:1 on a trailing 12 month basis, applicable from 2018 onwards.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services,  has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73.4 million. The total consolidated liabilities of the Company divided by its total consolidated assets charter inclusive must not exceed 90% until and including year-end 2017 and 85% from 2018 onwards. The ratio of the Company's EBITDA(1) to its interest expense must be not less than 2.0:1 on a trailing 12 month basis, applicable from 2018 onwards. The consolidated net worth of the Company…

Safe Bulkers, an international provider of marine drybulk transportation services, announced today that it has agreed with Erma First, a Greece based company, to install in all Company's vessels a Ballast Water Treatment System (BWTS). The Ballast Water Management (BWM) Convention was adopted by the International Maritime Organization (IMO) and entered into force on 8 September 2017. The United States Environmental Protection Agency (EPA) had adopted similar regulation for ballast water treatment effective on January 1, 2016. Both organizations have provided certain extensions for BWTS installation for various reasons including type approval.

Safe Bulkers, an international provider of marine dry-bulk transportation services, announced today that it has acquired a 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel at an attractive price. The vessel is a sistership of the Company’s two existing South Korean Post-Panamax class vessels. The acquisition was financed from cash on hand. Dr. Loukas Barmparis, President of the Company commented: “In parallel with the optimization of our capital structure our Board has decided to invest in a second hand vessel which we believe it will be accretive to our revenues. As of October 25, 2017, Safe Bulkers' operational fleet comprised of 38 drybulk vessels with an average age of 7.3 years and an aggregate carrying capacity of 3.4 million dwt.

Greece's Safe Bulkers, Inc. reports Fourth Quarter & Twelve Months 2013 results and declares quarterly dividend on common stock of $0.06 per share for the fourth quarter of 2013. Net revenue for the twelve-month period ended December 31, 2013 increased by 1% to $186.7 million from $184.3 million during the same period in 2012. Net income for the twelve-month period ended December 31, 2013 decreased by 13% to $83.3 million from $96.1 million. Adjusted net income1 for the twelve-month period ended December 31…

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr. Polys Hajioannou, the Chairman of the Board and the Chief Executive Officer of the Company. Each vessel is scheduled to be delivered in the first quarter of 2017. The two transactions were evaluated and approved by a Special Committee of the Company’s Board of Directors, which committee was wholly comprised of independent members of the Board and advised by independent counsel.