Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Japanese Kamsarmax Class Dry-bulk Vessel
February 21 2023 - 9:00AM
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
Japanese, 81,800 dwt, dry-bulk, Kamsarmax class vessel at an
attractive price with a scheduled delivery date within the second
quarter of 2025.
The newbuild vessel is designed to meet the
Phase 3 requirements of Energy Efficiency Design Index related to
the reduction of greenhouse gas emissions (''GHG -EEDI Phase 3'')
as adopted by the International Maritime Organization, ("IMO") and
also comply with the latest NOx emissions regulation, NOx-Tier III
(IMO, MARPOL Annex VI, reg. 13) (''NOx-Tier III''). This newbuild
vessel is a sister vessel to a number of newbuilds in our orderbook
with advanced energy efficiency characteristics and lower fuel
consumption.
Including this agreement and following the
delivery of MV Climate Ethics, our third newbuild in January 2023,
the Company has an outstanding orderbook of nine newbuild vessels,
with scheduled deliveries four in 2023, three in 2024 and two in
2025, of which one is Post-Panamax class and eight are Kamsarmax
class vessels.
About Safe Bulkers, Inc.
The Company is an international provider of
marine dry-bulk transportation services, transporting bulk cargoes,
particularly grain, coal and iron ore, along worldwide shipping
routes for some of the world’s largest users of marine dry-bulk
transportation services. The Company has 44 vessels, 12 of which
are eco-ships and three are IMO GHG Phase 3 - NOx Tier III vessels,
and has an outstanding orderbook of nine IMO GHG Phase 3 - NOx Tier
III newbuild vessels. 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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