Safe Bulkers, Inc. Announces Contracts for the Acquisition of Two Dual-Fueled Kamsarmax Class Newbuild Vessels
07 October 2023 - 12:00AM
Safe Bulkers, Inc. (the Company) (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that in relation to its ESG strategy, has entered into contracts
for the acquisition of two dual-fueled, 81,200 dwt, Kamsarmax class
dry-bulk vessels, at attractive prices with scheduled delivery
dates in the fourth quarter of 2026 for the first vessel, and in
the first quarter of 2027 for the second vessel.
The newbuild vessels are designed to meet the
requirements of Energy Efficiency Design Index related to Green
House Gas, GHG emissions, ‘EEDI, Phase 3’ and to comply with the
NOx emissions regulation, NOx-Tier III.
The newbuild vessels are capable of operating
with methanol and fuel. When powered by green methanol the vessels
can produce close to zero GHG emissions based on the life cycle
assessment (LCA) methodology well-to-propeller (WTP).
The Company has already taken delivery of five
IMO GHG Phase 3 - NOx Tier III vessels and is expected to take
delivery 9 additional newbuilds, two of which dual-fueled, with
scheduled deliveries two in 2023, three in 2024, two in 2025, one
in 2026 and one in the first quarter of 2027.
Dr. Loukas Barmparis, President of the Company
commented: “Following our fleet renewal strategy developed after
2019 with 12 newbuilds, we have extensively assessed the use of
technologies leading to net-zero GHG emissions. The two new
contracts, with relatively prompt deliveries, signed today, reflect
our ambition to be in the forefront of environmental
developments.”
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 45 vessels,
consisting of 11 Panamax, 8 Kamsarmax, 18 Post-Panamax and 8
Capesize vessels, with an aggregate carrying capacity of 4.6
million dwt and an average age of 10.6 years. Twelve vessels in our
fleet are eco-ships built after 2014, and five are IMO GHG Phase 3
- NOx Tier III vessels built 2022 onwards. The Company’s common
stock, series C preferred stock and series D preferred stock are
listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”,
and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and in Section 21E of the Securities Exchange Act
of 1934, as amended) concerning future events, the Company’s growth
strategy and measures to implement such strategy, including
expected vessel acquisitions and entering into further time
charters. Words such as “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates” and variations of such words
and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of the Company. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, changes in
the demand for drybulk vessels, competitive factors in the market
in which the Company operates, risks associated with operations
outside the United States and other factors listed from time to
time in the Company’s filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
For further information please
contact:
Company Contact:Dr. Loukas
BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 2 111 888 400Fax: +30
2 111 878 500E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:Nicolas
Bornozis, President Capital Link, Inc.230 Park Avenue, Suite 1536
New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail:
safebulkers@capitallink.com
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