Safe Bulkers Expands Fleet with New Kamsarmax Orders
Greek dry bulk shipping company Safe Bulkers has made a significant move in the newbuilding market by agreeing to acquire two kamsarmax vessels from Chinese shipyards. The New York-listed firm announced that these vessels will each have a deadweight tonnage (dwt) of 82,500 and are scheduled for delivery in the third quarter of 2028 and the first quarter of 2029. While the pricing details for this acquisition remain undisclosed, the newbuilds are expected to enhance the company’s operational capabilities.
The new kamsarmax vessels will be designed to meet the International Maritime Organization’s (IMO) Energy Efficiency Design Index (EEDI) Phase 3 requirements and will comply with NOx Tier III emissions standards. Safe Bulkers indicated that these ships will be sister vessels to others already in its fleet, featuring advancements in fuel efficiency and reduced consumption. This strategic acquisition aligns with the company’s ongoing efforts to modernize its fleet and improve its environmental performance.
Strategic Fleet Modernization
This order comes on the heels of a fleet reshaping initiative by Safe Bulkers, which saw the company sell two kamsarmax vessels last year. The recent orders mark the company’s return to newbuilding activities, with its last orders prior to this deal made in 2024. Safe Bulkers has already taken delivery of 12 bulk carriers that adhere to the IMO’s GHG Phase 3 and NOx Tier III standards, further demonstrating its commitment to fleet modernization.
With the latest acquisition, Safe Bulkers’ orderbook now comprises eight vessels, including two methanol dual-fuel ships, with deliveries scheduled between 2026 and 2029. As of September 2025, the company operated a fleet of 45 dry bulk vessels, which includes panamax, kamsarmax, post-panamax, and capesize units. The average age of the fleet is just over 10 years, reflecting the company’s focus on maintaining a modern and efficient fleet.
Safe Bulkers posts $1.7m profit in Q2 despite weaker rates and higher costs
President Loukas Barmparis emphasized that the newbuilds are integral to the company’s renewal strategy. This strategy aims to enhance competitiveness and resilience in the market while ensuring that Safe Bulkers maintains one of the most modern and fuel-efficient dry bulk fleets available. The company’s proactive approach to fleet renewal positions it well for future challenges in the shipping industry.
