Dry CargoEurope

Safe Bulkers continues capesize buying spree

Monaco based NYSE-listed dry bulk vessel owner Safe Bulkers continues to add to its capesize fleet at pace with the $31.75m acquisition of a 2012-built Chinese capesize.

The unnamed vessel is scheduled for delivery in August 2022 upon completion of a scheduled drydocking, and will be renamed Aghia Sofia.

Last month, Safe Bulkers sealed the acquisition of a 2012-built capesize bulker from China’s Cara Shipping for $30m. If this latest deal is with Cara, part of Rizhao Steel, then the vessel is the SWS-built Stella Flora.

The acquisition takes the Safe Bulkers fleet to 42 vessels, of which eight are capesizes.

Loukas Barmparis, president of Safe Bulkers, commented: “Following our time charter contracts for three-year employment of two of our Capesize class vessels, we are using our liquidity to further expand our Cape size class fleet to eight vessels, expecting that such acquisition will be accretive to our revenue and profitability.”

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.
Back to top button