Safe Bulkers, Inc. Entered into an Agreement for the Acquisition of Three Kamsarmax Class Dry-bulk Japanese Vessels
July 20 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, it has entered into
agreements for the acquisition of three Japanese dry-bulk 82,000
dwt, Kamsarmax class vessels at attractive prices with scheduled
delivery dates within the fourth quarter of 2023 for one vessel and
within the first quarter of 2024, for the other two vessels.
All three newbuild vessels are designed to meet
the Phase 3 requirements of Energy Efficiency Design Index related
to Green House Gas emissions, (GHG-EEDI, Phase 3) and also comply
with the latest NOx emissions regulation, (NOx-Tier III) and will
be financed from the cash reserves of the Company.
Dr. Loukas Barmparis, President of the Company,
commented: “We are continuing our fleet renewal strategy, by
ordering three additional vessels, bringing the total number of
newbuilds to eight GHG-EEDI Phase 3, NOx-Tier III. In parallel, the
Company has already acquired two younger second hand vessels.
Newbuild orders and second hand acquisitions are in the context of
our strategy to replace older or Chinese-built vessels, six of
which have been sold until now.”
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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