Safe Bulkers, Inc. Announces a Two-Year Time Charter With a Forward Delivery Date for a Kamsarmax Newbuild Vessel at $13,250 ...
October 07 2011 - 4:33PM
Marketwired
Safe Bulkers, Inc. (the "Company") (NYSE: SB), announced today that
it has entered into a new period time charter for a 82,000 dwt,
Chinese built, Kamsarmax class vessel, for a duration of 24 to 27
months, with a forward delivery date within the second or the third
quarter of 2012, at a gross daily charter rate of $13,250, less
4.75% total commissions. The charter is expected to commence upon
delivery from the shipyard.
As of today, the contracted employment of fleet ownership days
for the full year 2011, 2012 and 2013 is 94%, 64% and 57%
respectively. Contracted employment includes vessels which are
scheduled to be delivered to us in the future.
Dr. Loukas Barmparis, President of the Company, said: "The new
two-year time charter secures employment for one of our Chinese
newbuild Kamsarmax class vessels and expands our charter coverage
for the coming two years."
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk
transportation services, transporting bulk cargoes, particularly
coal, grain and iron ore, along worldwide shipping routes for some
of the world's largest users of marine drybulk transportation
services. The Company's common stock is listed on the NYSE, where
it trades under the symbol "SB". The Company's current fleet
consists of 17 drybulk vessels, all built post-2003, and the
Company has contracted to acquire 10 additional drybulk newbuild
vessels to be delivered at various times through 2014.
Forward-Looking Statement
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Exchange Act of 1933, as
amended, and in the Section 21E of the Securities Act of 1934, as
amended) concerning future events, the Company's growth strategy
and measures to implement such strategy, including expected vessel
acquisitions and entering into further time charters. Words such as
"expects," "intends," "plans," "believes," "anticipates," "hopes,"
"estimates" and variations of such words and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a
number of assumptions and estimates that are inherently subject to
significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, changes in the demand
for drybulk vessels, competitive factors in the market in which the
Company operates, risks associated with operations outside the
United States and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
For further information please contact: Company
Contact: Dr. Loukas Barmparis President Safe Bulkers, Inc.
Athens, Greece Telephone: +30 210 899 4980 E-Mail:
directors@safebulkers.com Investor Relations / Media
Contact: Nicolas Bornozis President Capital Link, Inc. 230 Park
Avenue, Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566 Fax:
(212) 661-7526 E-Mail: safebulkers@capitallink.com
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From May 2024 to Jun 2024
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From Jun 2023 to Jun 2024