Safe Bulkers offloads two panamaxes, brings in another


NYSE-listed dry bulk owner Safe Bulkers has offloaded two of its older panamax vessels and brought in a 2011-built panamax.

The company has agreed to sell Oshima-built (2003) Paraskevi for $7.3m, with delivery scheduled for March. In a separate agreement, it has also sold the Tsuneishi-built (2004) Vassos for a price of $8.7m. Both vessels are listed as sold to unknown Chinese buyers by VesselsValue.

Safe Bulkers has also entered into an agreement to buy a 2011-built Japanese panamax for $14m. The vessel is a sister-ship with two of the company’s existing vessels, and delivery is scheduled by the end of this month. It will immediately go out on a charter for 11 to 14 months at a rate of $13,800 per day.

The transactions were revealed by Safe Bulkers in the company’s fourth quarter results, where it posted a net income of $7.6m.

Loukas Barmparis, president of Safe Bulkers, said: ”Having a consistent strategy for fleet renewal and environmental upgrading, hands on operations and strong balance sheet, we believe we are well positioned to take advantage of a strengthening charter market.”



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