Safe Bulkers announces agreement for the acquisition of one Japanese Kamsarmax class dry-bulk vessel

Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, has entered into an agreement for the acquisition of a Japanese, 82,000 dwt, dry-bulk, Kamsarmax class vessel with a scheduled delivery date within the third quarter of 2026, the Company said in a media release.

The newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduction of greenhouse gas emissions (“GHG -EEDI Phase 3”) as adopted by the International Maritime Organization, (“IMO”) and also comply with the latest NOx emissions regulation, NOx-Tier III (”NOx-Tier III”). This newbuild vessel is a sister vessel to a number of newbuilds in our orderbook with advanced energy efficiency characteristics resulting to lower fuel consumption.

The Company has already taken delivery of seven IMO GHG Phase 3 – NOx Tier III vessels. Including this agreement, the Company has an outstanding orderbook of nine Phase 3 newbuild vessels, two of which are methanol dual fuel, with scheduled deliveries three in 2024, two in 2025, three in 2026, and one in 2027.

Dr. Loukas Barmparis, President of the Company commented: “Consistent with our ESG strategy, we have placed an additional order for a Phase 3 newbuild targeting a gradual fleet renewal and the subsequent operational and financial advantages associated with it.”

About Safe Bulkers, Inc.

The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services.  The Company has a fleet of 46 vessels, consisting of 11 Panamax, 9 Kamsarmax, 18 Post-Panamax and 8 Capesize vessels, with an aggregate carrying capacity of 4.6 million dwt and an average age of 10.5 years. Twelve vessels in the Company’s fleet are eco-ships built after 2014, and seven are IMO GHG Phase 3 – NOx Tier III vessels built 2022 onwards. The Company has an outstanding orderbook of nine Phase 3 newbuild vessels, two of which are methanol dual fuel, with scheduled deliveries three in 2024, two in 2025, three in 2026, and one in 2027.