Safe Bulkers adds a post-panamax

Safe Bulkers adds a post-panamax

Safe Bulkers has acquired a South Korean 2010-built post-panamax dry bulk vessel at what it described as “an attractive price”.

The 92,000 dwt vessel is a sister ship of the company’s two post-panamaxes Andreas K and Panayiota K, built at Sundong Shipbuilding.

Dr. Loukas Barmparis, president of Safe Bulkers, commented: “In parallel with the optimization of our capital structure our Board has decided to invest in a second hand vessel which we believe it will be accretive to our revenues. Furthermore, the acquisition of an additional sistership provides us with enhanced operational flexibility and optimizes our ability to control fleet operating expenses.”

The acquisition is being financed from cash on hand.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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