Safe Bulkers has signed recapitulation agreements to acquire four Japanese newbuild dry bulk vessels, lifting its outstanding orderbook to 11 ships with deliveries running through 2029, according to Safe Bulkers.
The deal covers three 82,000-dwt Kamsarmax bulkers and one 182,000-dwt Capesize vessel. Two Kamsarmaxes are due in the first half of 2029, the third in the third quarter of 2029, and the Capesize in the second half of 2029.
Safe Bulkers plans to fund the three Kamsarmaxes from cash reserves, with no external financing arranged at this stage. The Capesize will be acquired through a 10-year finance lease under a bareboat charter, with purchase options from five years after the start of the charter period at predetermined prices. The agreements remain subject to customary terms, documentation and closing conditions.
All four vessels are designed to meet IMO GHG-EEDI Phase 3 requirements and NOx Tier III emissions rules. Safe Bulkers said the Kamsarmaxes are sister ships to newbuildings already in its orderbook, with energy-efficiency features aimed at lower fuel consumption.
The company has taken delivery of 13 IMO GHG Phase 3 and NOx Tier III vessels. After the new agreements are completed, its 11-ship orderbook will include two methanol dual-fuel newbuildings, with deliveries of three vessels in 2026, two in 2027, one in 2028 and five in 2029.
Safe Bulkers, Inc. is a Monaco-based marine dry bulk transportation company carrying bulk cargoes including grain, coal and iron ore on worldwide shipping routes for major industrial and commodity customers.
