Safe Bulkers announces the acquisition of a Post-Panamax class dry-bulk vessel

By Vessels

Safe Bulkers, Inc. (NYSE:SB), an international provider of marine dry-bulk transportation services, announced yesterday that it has acquired a 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel at an attractive price. The vessel is a sistership of the Company’s two existing South Korean Post-Panamax class vessels. The acquisition was financed from cash on hand.

Safe Bulkers announces the acquisition of a Post-Panamax class dry-bulk vessel

Dr. Loukas Barmparis, President of the Company commented: “In parallel with the optimization of our capital structure our Board has decided to invest in a second hand vessel which we believe it will be accretive to our revenues. Furthermore, the acquisition of an additional sistership provides us with enhanced operational flexibility and optimizes our ability to control fleet operating expenses.”

About Safe Bulkers, Inc.

The Company is an international provider of marine dry-bulk 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 dry-bulk transportation services. The Company’s common stock, series B preferred stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.B”, “SB.PR.C”, and “SB.PR.D”, respectively.

Source: Safe Bulkers