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.
. 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.
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.