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Safe Bulkers linked to first deal since 2014

Safe Bulkers linked to first deal since 2014

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Brokers reports link Greece’s Safe Bulkers has done its first S&P deal in years, a significant move by the large public owner who has stayed away from shipping’s shop window since 2014.

In what is reported to be a bank driven sale, Safe Bulkers is  paying the seller, Germany’s Orion Bulkers, $26m for the 176,500 dwt Rugia. A time charter is also attached to the deal. The ship is currently under Oldendorff control for $12,150 per day until 2020.

New York-listed Safe Bulkers, with 38 bulkers in its stable, has not completed any acquisitions since 2014. Instead, the company has taken advantage of purchase options on ships under its control.

Orion Bulkers, which is listed with four capes among its 22 bulkers, has also stayed away from buying and selling ships this year according to VesselsValue data on the company.

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Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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1 Comment

  1. Secret Broker
    September 28, 2017 at 9:08 am

    TC duration is not accurate…it is up until April 2018. Also Safe Bulkers are not the buyers but a private company affiliated to the CEO of Safe Bulkers.