Safe Bulkers is moving into a new phase of expansion of its shipbuilding program, solidifying its strategy for a younger and more energy-efficient fleet. The Greek-owned shipping company has locked in agreements at Japanese shipyards for the construction of newbuilding bulk carriers, with a delivery horizon of 2029.
Specifically, the investment plan is structured around two main axes of financing and capacity. On the one hand, it concerns the construction of three newbuildings of Kamsarmax size 82,000 dwt, the construction of which will be covered entirely from the company’s available funds, without external financing. On the other hand, it incorporates the acquisition of one Capesize 182,000 dwt, through a ten-year bareboat charter, which includes a purchase option in favor of the company after the end of the first five years.
On the technical side and according to the company’s announcement, the design of the newbuildings aligns with the strictest environmental specifications (EEDI Phase 3, NOx-Tier III) of the IMO.
As emphasized by the company’s president, Dr. Loukas Barmparis, “Safe Bulkers continues to invest in modern, latest-generation newbuilding vessels from top-tier shipyards… This strategy supports our fleet renewal plan, aiming to maintain a young, modern, efficient fleet, thus ensuring our competitiveness.”
With this specific move, the company listed on the NYSE expands its orderbook to 11 vessels, including two methanol dual-fuel vessels.
