Safe Bulkers, Inc. (NYSE: SB), a prominent player in marine drybulk transportation, has publicly declared its agreement to purchase a Japanese-designed 82,000 dwt Kamsarmax class dry-bulk vessel, poised for delivery in the last quarter of 2026. The vessel is carefully engineered to be in compliance with Phase 3 of the Energy Efficiency Design Index (EEDI), reflecting the company’s intent to lower greenhouse gas emissions, adhering to the International Maritime Organization’s (IMO) goals. In addition, the ship meets the rigorous NOx-Tier III emissions standards. This purchase aligns with the nine other IMO GHG Phase 3 NOx Tier III vessels already under the company’s wing and is a complement to its expanding orderbook, which comprises eight newbuilds, including two methanol dual-fuel ships. Planned vessel acquisitions are aimed at ensuring the Safe Bulkers fleet remains one of the most environmentally conscious in the drybulk sector. Dr. Loukas Barmparis, President of Safe Bulkers, regards this move as a strategic component of the company’s fleet renewal initiative, emphasizing prompt delivery schedules in an industry currently experiencing limited slot availability for new ships. Safe Bulkers, Inc. serves major routes internationally, specializing in the haulage of key drybulk commodities such as grain, coal, and iron ore. Presently, its common stock and preferred stock series C and D are listed on the NYSE under respective symbols SB, SB.PR.C, and SB.PR.D. The company’s growth objectives include a series of expected vessel acquisitions and further entrance into time charter contracts, as this latest deal illustrates. However, they also caution that forward-looking statements bear inherent uncertainties, with various factors like market demand and competition playing pivotal roles in operational outcomes.

Marine Transport, Renewable Energy Compliance, Shipbuilding,United States, Monaco, Japan

https://www.globenewswire.com/news-release/2024/04/26/2870503/0/en/Safe-Bulkers-Inc-Announces-Agreement-for-the-Acquisition-of-One-Newbuild-Japanese-Kamsarmax-Class-Dry-bulk-Vessel.html