Safe Bulkers Expands Fleet with New Vessels
Safe Bulkers, Inc., a leading provider of marine drybulk transportation services, has announced a significant expansion of its fleet. The company has secured an agreement to acquire two new Kamsarmax class vessels, each with a deadweight tonnage of 82,500. Scheduled for delivery in the third quarter of 2028 and the first quarter of 2029, these vessels are designed to meet stringent environmental standards.
Commitment to Environmental Standards
The newly ordered vessels will adhere to the Phase 3 requirements of the Energy Efficiency Design Index (EEDI), aimed at reducing greenhouse gas emissions as mandated by the International Maritime Organization (IMO). Additionally, they will comply with the latest NOx emissions regulation, known as NOx-Tier III. These advancements position the new vessels as part of a modern fleet focused on sustainability and efficiency.
Safe Bulkers has already taken delivery of twelve vessels that meet the IMO GHG Phase 3 and NOx Tier III standards. With this latest agreement, the company now has an orderbook of eight newbuild vessels, including two that will utilize methanol as a dual fuel source. The scheduled deliveries for these vessels include four in 2026, two in 2027, one in 2028, and one in 2029.
Dr. Loukas Barmparis, President of Safe Bulkers, emphasized the strategic importance of these newbuild orders. He stated that they align with the company’s fleet renewal strategy, which aims to enhance competitiveness and resilience. The goal is to maintain one of the most modern and environmentally efficient dry bulk fleets in the industry.
Global Shipping Operations
Safe Bulkers operates internationally, transporting bulk cargoes such as grain, coal, and iron ore along major shipping routes. The company serves some of the largest users of marine dry-bulk transportation services worldwide. Its common stock, as well as series C and D preferred stocks, are publicly traded on the New York Stock Exchange under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Safe Bulkers posts $1.7m profit in Q2 despite weaker rates and higher costs
This latest fleet expansion underscores Safe Bulkers’ commitment to sustainability and operational efficiency, positioning the company for future growth in the competitive maritime industry.
