Safe Bulkers adds Kamsarmax newbuild to its fleet


Safe Bulkers bolsters fleet with another Japanese, Kamsarmax newbuild, bringing its orderbook to nine ships.

Safe Bulkers, a New York-listed provider of marine dry-bulk transportation services, is expanding its fleet with a Japanese, 82,000 dwt, dry-bulk, Kamsarmax-class vessel, with a scheduled delivery date within the first quarter of 2027.

The newbuild vessel is designed to meet the Phase 3 requirements of the Energy Efficiency Design Index adopted by the International Maritime Organization (IMO) and comply with the latest NOx emissions regulation, NOx-Tier III.

“We are entering in this newbuild order consistent with our fleet renewal strategy, aiming to create a resilient company with a young and efficient fleet within the ever-developing stringent CO2 emission regulations environment,” Loukas Barmparis, President of the Company, said.

The newbuild is a sister vessel to the existing vessels in the company’s orderbook, featuring advanced energy efficiency characteristics resulting in lower fuel consumption. The latest order comes on the back of similar contracts signed in January and April this year.

The company has taken delivery of nine IMO GHG Phase 3 – NOx Tier III vessels. Including this agreement, Safe Bulkers has an outstanding orderbook of nine newbuild vessels, two of which are methanol dual fuel, with scheduled deliveries one in 2024, two in 2025, four in 2026, and two in 2027.

“During the first quarter of 2024, we operated in a relatively stronger market compared to the previous year. Having comfortable liquidity and leverage, and consistent with our ESG strategy, we placed an additional order for a Phase 3 newbuild, continued the renewal of our fleet by selling three of our older vessels, repurchased 4.9 million shares of our common stock and at the same time declared a dividend of five cents per share of common stock,” Barmparis said.

“We are focused to create long-term value for our shareholders by maintaining a strong capital structure together with the development of a young, modern and energy efficient fleet, with operational competitive advantage ahead of forthcoming stringent environmental regulations.”

Safe Bulkers specialises in transporting bulk cargoes, particularly grain, coal and iron ore.