Safe Bulkers continues fleet renewal with two energy-efficient ships

Dry bulk shipping company Safe Bulkers has entered into an agreement for the acquisition of two energy-efficient Kamsarmax class vessels as part of its fleet renewal strategy.

Courtesy of Safe Bulkers

The company has ordered two 82,500 dwt dry bulk newbuilds from an undisclosed Chinese shipyard, scheduled for delivery within August 2024 and January 2025.

The vessels are designed to meet the Energy Efficiency Design Index (EEDI) Phase 3, greenhouse gas (GHG) emissions and NOx Tier III regulations.

To remind, back in 2020, the company decided to gradually renew its fleet with modern designs compliant with the new environmental regulations.

With the new agreement, the company’s order book now includes ten newbuilds – three Post-Panamax class and seven Kamsarmax class vessels.

One vessel is due to be delivered this year, five in 2023, three in 2024 and one in 2025.

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Commenting on the order, Loukas Barmparis, president of Safe Bulkers, said: “Newbuild orders remain the core context of our fleet renewal strategy. In this respect, we have ordered two additional GHG-EEDI Phase 3, NOx-Tier III Kamsarmax class vessels in a leading Chinese shipyard further expanding our fleet with energy-efficient vessels.”

In October 2021, Safe Bulkers unveiled its first sustainability-linked credit facility that incorporates an incentive discount on the interest rate, linked to independently verified pre-determined emission targets.

At the beginning of this year, the company added the 40th vessel to its fleet after purchasing a Japanese dry bulk 181,000 dwt Capesize vessel for a price of $33.8 million.

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