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Safe Bulkers acquires post-panamax dry bulk carrier

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Dry Bulk,

Safe Bulkers Inc., an international provider of marine dry bulk transportation services, has acquired a 92 000 DWT, South Korean 2010 built, dry bulk post-panamax class vessel.

The vessel is a sistership of the company’s two existing South Korean PostPanamax class vessels. The acquisition was financed from cash on hand.

Dr Loukas Barmparis, President of the company, commented: “In parallel with the optimisation of our capital structure our Board has decided to invest in a secondhand 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 optimises our ability to control fleet operating expenses.”

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