**Safe Bulkers Expands Orderbook with New Cape Size Vessel**
Safe Bulkers, a key player in the marine dry bulk transportation sector, has announced a significant expansion of its fleet with the signing of a definitive agreement for the construction and acquisition of a new capesize vessel. This vessel will have a capacity of 182,000 deadweight tonnes and will be acquired through financial leasing. The announcement marks the completion of a transaction that was initially outlined in a framework agreement back in May.
The new vessel is part of Safe Bulkers’ ongoing fleet renewal strategy, which aims to modernize its operations and enhance efficiency. The acquisition will be executed via a ten-year bareboat charter agreement that will commence upon delivery, which is scheduled for the second half of 2029. This structure allows Safe Bulkers to integrate a high-capacity vessel into its fleet while minimizing initial capital outlay. Additionally, the company retains the option to purchase the vessel five years into the charter at pre-agreed redemption prices, providing flexibility for future financial planning.
In line with the increasing global focus on environmental sustainability, the new capesize vessel is designed to meet the International Maritime Organization’s Energy Efficiency Design Index Phase 3 requirements. This includes compliance with NOx Tier III regulations, which impose stricter limits on nitrogen oxide emissions. The vessel will feature advanced energy efficiency technologies aimed at reducing fuel consumption, a critical consideration as shipping companies face rising operational costs and stricter environmental regulations.
With this latest addition, Safe Bulkers’ orderbook now includes a total of 11 newbuild vessels. Among these, two are dual-fuel methanol vessels, with deliveries scheduled between 2026 and 2029. The company anticipates receiving three vessels in 2026, two in 2027, one in 2028, and five in 2029. This proactive approach to fleet expansion reflects Safe Bulkers' commitment to maintaining a modern, fuel-efficient, and environmentally advanced fleet.
Loukas Barmparis, chairman of Safe Bulkers, emphasized the company's selective investment strategy in modern vessels. He stated, “Safe Bulkers continues to invest selectively in modern newbuildings, incorporating the most advanced designs from leading shipyards, with delivery schedules aligned with the age profile of our fleet and available berths.” Barmparis further noted that this strategy is essential for supporting the fleet renewal process while ensuring competitiveness in a challenging market.
The decision to expand the fleet comes at a time when shipowners are under increasing pressure to upgrade older vessels and enhance fleet efficiency in anticipation of stricter emissions regulations. Safe Bulkers’ approach combines fleet expansion with flexible financing options and a focus on more efficient vessel designs, positioning the company favorably within the industry.
Safe Bulkers has chosen to work with Japanese shipyards for this new vessel, a decision that underscores Japan’s reputation for high-quality commercial shipbuilding and innovative vessel design. The company is recognized for transporting a variety of bulk cargoes, including coal, grain, and iron ore, across global shipping routes.
In addition to its operational developments, Safe Bulkers is also notable for its dual listing on both the New York Stock Exchange and Euronext Athens, trading under the symbol SB. This dual listing, which commenced on June 2, 2026, makes Safe Bulkers the first shipping company to achieve such a status, further enhancing its visibility and access to European capital markets.
Looking ahead, Safe Bulkers is set to release its financial results for the first quarter ending March 31, 2026, after the market closes in New York on June 17, 2026. Following the release, company management will host a conference call to discuss the results, providing insights into the company’s performance and future outlook.
As Safe Bulkers continues to navigate the evolving landscape of the shipping industry, its strategic investments in modern vessels and commitment to environmental sustainability position it as a forward-thinking leader in marine dry bulk transportation.