Greek dry bulk owner Safe Bulkers has entered into recapitulation agreements for the acquisition of four Japanese newbuild dry bulk vessels.
Three newbuild vessels are 82,000 dwt kamsarmaxes, with two set for delivery in the first half of 2029 and one in the third quarter of 2029. One newbuild vessel is a 182,000 dwt cape, with a scheduled delivery date in the second half of 2029.
The acquisitions of the three kamsarmaxes will be financed from the company’s cash reserves, with no external financing arranged at this stage.
The cape will be acquired through a finance lease under a bareboat charter agreement for a period of ten years, with purchase options available five years following the commencement of the bareboat charter period, all at predetermined purchase prices.
All newbuild vessels are designed to meet the Phase 3 requirements of the Energy Efficiency Design Index and comply with the latest NOx emissions regulations. The kamsarmax trio are sister vessels to several newbuilds in the company’s orderbook.
Safe Bulkers has already taken delivery of thirteen IMO GHG Phase 3 – NOx Tier III vessels. Upon closing these deals, the company will have an orderbook of 11 newbuild vessels, two of which are methanol-dual-fuelled, with scheduled deliveries of three in 2026, two in 2027, one in 2028, and five in 2029.
“This strategy supports our fleet renewal pathway to maintain a young, modern, fuel-efficient, and environmentally advanced fleet, preserving our competitiveness,” said Loukas Barmparis, president of Safe Bulkers.
