Dry CargoEurope

Safe Bulkers ties another capesize down to a long-term deal

NYSE-listed bulker owner Safe Bulkers has announced its second long-term capesize charter this week, sealing a three-year time charter for 2014-built Japanese capesize Lake Despina.

The charter is at a gross daily charter rate of $22,500, with an additional $3m payment upon commencement, which is scheduled for between the end of January 2022 and the end of May 2022. There is also a one-year extension option at $27,500 per day.

Earlier this week Safe Bulkers announced a three-year charter for its latest acquisition, a 2012-built Japanese capesize bulker, which is scheduled for delivery in November.

Loukas Barmparis, president of Safe Bulkers, commented: “While we remain a strong spot charter market player, we decided to lock this second 3-years period time charter that further enhances the visibility of our future cash flows and supports our long term earning capability.”

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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