Dry CargoEurope

Safe Bulkers post-panamax gets 30-month timecharter

A post-panamax bulk carrier owned by Safe Bulkers has been fixed to an unnamed counterparty on a 30-month timecharter at a gross rate of $7,250, less 1.25% total commissions. The contract will commence in April.

Safe Bulkers has six 87,000-dwt bulkers in its fleet but the specific vessel was not disclosed.

“This employment is anticipated to generate approximately $6.5m of gross revenue for the scheduled period of the timecharter,” the NYSE-listed company said today.

Yesterday, Safe Bulkers’ panamax Zoe was reportedly fixed to an unnamed charterer on a four- to six-month timecharter for $5,000 daily.

On January 15, the company received a notice of non-compliance from the New York Stock Exchange, stating that Safe Bulkers’ share price had traded at below $1.00 per share for over 30 consecutive trading days and therefore did not meet the NYSE’s continued listing standard. Safe Bulkers has six months to regain compliance.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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