Skip to main content

Safe Bulkers, Inc. announces a three-year period time charter

Published by , Editor
Dry Bulk,

Safe Bulkers, Inc., an international provider of marine dry bulk transportation services, has announced that it has entered into a new long-term period time charter for its 2014-built Japanese Capesize class vessel MV Lake Despina, with forward delivery date, for a duration of three years at a gross daily charter rate of US$22 500 plus an once off US$3.0 million payment upon charter commencement, scheduled for end January to end May 2022, whilst till the end of January 2022 the vessel is earning a gross daily charter rate linked to the Baltic Exchange Capesize Index (BCI) times 119%.

The charter agreement also grants the charterer an option to extend the period time charter for an additional year at a gross daily charter rate of $27,500. This new employment is anticipated to generate approximately US$27.5 million of gross revenue for the minimum scheduled three-year period of the time charter.

Dr. Loukas Barmparis, President of the Company commented: “While we remain a strong spot charter market player, we decided to lock this second three-years period time charter that further enhances the visibility of our future cash flows and supports our long-term earning capability."

Read the article online at:

You might also like


Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »


Handysize carrier Rubymar finally sinks

On 2 March the UK-owned bulk carrier, the Rubymar, finally floundered and sunk into the Red Sea after it was abandoned by its crew following a missile strike.


Embed article link: (copy the HTML code below):