Safe Bulkers orders two panamaxes

Dry bulk owner Safe Bulkers has entered into shipbuilding contracts for the construction of two Japanese-built, panamax vessels with an expected delivery date in the first half of 2014. Assuming the delivery of all of the company’s newbuilds on order, upon delivery of these two newbuild vessels in the first half of 2014, Safe Bulker’s fleet will consist of 27 vessels with deadweight capacity of approximately 2.5 million tons.

Sea Bulkers' preseident Dr. Loukas Barmparis said: “These new acquisitions are in line with our long term strategy to place orders at attractive prices in the right point of the cycle, seeking to renew and expand our fleet. We intend to offer our clients fuel efficient, shallow drafted, new generation designed vessels able to compete even in relatively weak markets. We believe that these acquisitions will be accretive to our earnings”.