Safe Bulkers, Inc. Entered into a Bareboat Charter Agreement with a Purchase Option for a Capesize Class Dry-bulk Vessel
August 02 2021 - 9:00AM
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
a twelve-month bareboat charter agreement, with a down payment by
the Company of $4.5 million on signing, a payment of $4.5 million
on delivery of the vessel to the Company scheduled for the fourth
quarter of 2021, a payment of a daily charter rate of $14,500 over
the period of the bareboat charter and a purchase option in favor
of the Company at the end of the charter period of $18.0 million
for the acquisition of a 2012, Japanese-built, dry-bulk 181,000
dwt, Capesize class vessel.
Including this agreement and the previously
announced agreements, the Company has contracted to acquire four
second-hand vessels: i) the 2011-built, Panamax class, MV
Paraskevi 2, delivered to us in March 8, 2021; ii) the 2013-built,
Panamax class, MV Koulitsa 2, delivered to us in July 26,
2021; iii) the 2013-built, Post-Panamax class vessel to be
named MV Venus Harmony, scheduled to be delivered in October
2021; and iv) upon the exercise of the purchase option, the
2012-built, Capesize class vessel, to be named MV Stelios Y,
scheduled to be delivered in the fourth quarter of 2021, having
sold six vessels and having an order book of eight Japanese
newbuild vessels.
Dr. Loukas Barmparis, President of the Company
commented: “Selective second-hand acquisitions and newbuild
orders are within the context of our fleet renewal
strategy.”
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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