Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Capesize Class Dry-bulk Vessel
May 26 2022 - 4:05PM
Safe Bulkers, Inc. (the Company) (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that it has entered into an agreement for the acquisition of a
2012-built, Chinese, dry-bulk, 176,000 dwt, Capesize class vessel,
to be named MV Aghia Sofia, with delivery date within August
2022, upon completion of its scheduled dry docking by its current
owners, which includes ballast water treatment installation,
sandblasting and painting of cargo holds and environmental
upgrading with ultra-low friction paints, as per our requirements.
The vessel will be acquired at a gross purchase price of $31.75
million and will be financed from the cash reserves of the
Company.
Dr. Loukas Barmparis, President of the Company
commented: “Following our time charter contracts for three-year
employment of two of our Capesize class vessels, we are using our
liquidity to further expand our Cape size class fleet to eight
vessels, expecting that such acquisition will be accretive to our
revenue and profitability.”
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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