Safe Bulkers, Inc. Acquires a Second-hand Panamax Class Dry-Bulk Vessel
June 16 2021 - 4:05PM
Safe Bulkers, Inc. (the Company) (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that in relation to its fleet renewal strategy, has entered into an
agreement for the acquisition of a 2013-built, Japanese, 78,000 dwt
Panamax class, dry-bulk vessel at a price of $22 million with a
scheduled delivery date latest by August 2021. The acquisition of
the vessel will be financed from the cash reserves of the Company.
Including this acquisition, the Company has
ordered four EEDI-Phase 3 compliant, NOx-Tier III newbuild vessels,
three of which post-Panamax and one Kamsarmax class; acquired two
Japanese second-hand vessels, a 2011-built and the 2013-built
Panamax class announced today and sold selectively five older
vessels, three of which Panamax and two Kamsarmax class
vessels.
Dr. Loukas Barmparis, President of the Company
commented: “This new acquisition is part of our efforts to
gradually renew our fleet through selective acquisition of younger
second-hand Japanese built tonnage replacing older vessels or
Chinese built vessels. The core part of our renewal strategy
remains the acquisition of advanced design energy efficient
newbuilds.”
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, series C
preferred stock and series D preferred stock are listed on the
NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”,
respectively.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and in Section 21E of the Securities Exchange 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
BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 2 111 888 400Fax: +30
2 111 878 500E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:Nicolas
Bornozis, President Capital Link, Inc.230 Park Avenue, Suite 1536
New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail:
safebulkers@capitallink.com
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