Safe Bulkers acquires newbuild kamsarmax from Japan

SafeBulkers

Safe Bulkers has proceeded with the acquisition of a kamsarmax bulk carrier (82,000 dwt) being built in Japan. The vessel is set to be delivered to the shipping firm in the first half of next year.

Safe Bulkers has financed 90% of the deal by entering into a sale and lease back through a 10-year bareboat charter agreement with a third party, including a purchase obligation.

Loukas Barmparis, president of Safe Bulkers, commented: “This is a new investment at the edge of the technological design and environmental performance, targeting to renew our fleet. In addition, the agreed financing allows for limited impact on our liquidity, which presently exceeds $100m, as we have not and do not intend to utilise our previously announced at the market equity offering at stock price levels we have seen year to date.”

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