Dry CargoEurope

Safe Bulkers snaps up newbuild kamsarmax

Greek owner Safe Bulkers has sealed the acquisition an 82,000 dwt eco kamsarmax bulker, currently under construction in Japan.

The bulker is scheduled for delivery in the first half of 2022, and Safe Bulkers has financed 90% of the deal by entering into a sale and lease back through a bareboat charter agreement with a third party. The bareboat charter has a duration of 10 years with a purchase obligation at the end charter, as well as purchase options during the charter.

Splash understands the deal was fixed with local trading house Itochu for the Sanoyas newbuild with a price tag of just shy of $29m.

Loukas Barmparis, president of Safe Bulkers, commented: “This is a new investment at the edge of the technological design and environmental performance, targeting to renew our fleet. In addition, the agreed financing allows for limited impact on our liquidity, which presently exceeds $100m, as we have not and do not intend to utilise our previously announced at the market equity offering at stock price levels we have seen year to date.”

Safe Bulkers currently owns a fleet of 28 bulk carriers according to VesselsValue data.

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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