Skip to main content

Safe Bulkers acquires capesize class dry bulk vessel

Published by , Editor
Dry Bulk,

Safe Bulkers, Inc., an international provider of marine dry bulk transportation services, announced on 13 August that it has acquired a 181 000 dwt, Japanese, 2009-built, dry bulk, capesize class vessel at an attractive price.

The acquisition was financed from cash on hand. Following a dry docking, the vessel is expected to be employed in the time charter market. As of 13 August 2018, the weighted time charter average of the Baltic Exchange Cape Index (BCI AVG5TC) was US$26 059/d.

Dr. Loukas Barmparis, President of the Company commented: “While we remain focused on the optimisation of our capital structure by buying back later this month a kamsarmax class vessel under sale and lease back agreement, our Board has decided to invest opportunistically in a second-hand capesize class vessel, the second acquisition since December 2017, which we believe will be accretive to our revenues and further expand our fleet and our operations in the capesize market.”

Read the article online at:

You might also like


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


This article has been tagged under the following:

Dry cargo shipping news Dry bulk shipping market Capesize news