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Safe Bulkers ordered 2 dry bulks

Safe Bulkers ordered 2 dry bulks
Safe Bulkers, Inc., announced Friday that it has entered into shipbuilding contracts for the construction of two Chinese-built, drybulk Kamsarmax-class vessels of approximately 82,000 deadweight tons at contracted price of $32.2 million each.

Safe Bulkers, Inc. Announces Acquisition of Two Newbuild Kamsarmax-Class Drybulk Vessels

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced Friday that it has entered into shipbuilding contracts for the construction of two Chinese-built, drybulk Kamsarmax-class vessels of approximately 82,000 deadweight tons at contracted price of $32.2 million each, with expected delivery dates in the fourth quarter of 2011 and the first quarter of 2012.

The Company's fleet after these two newbuild acquisitions will expand to 21 vessels with deadweight capacity of approximately 2 million tons by early 2012.
Polys Hajioannou, CEO and Chairman of the Board of Directors of the Company, said: "We are happy to put to direct use equity raised recently from our successfully completed additional offering, implementing our strategy of selective fleet expansion at attractive prices, with newbuilds that incorporate specifications in relation to design and equipment suitable for the needs of our charterers."

About Safe Bulkers, Inc.

The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services. The Company's common stock is listed on the NYSE, where it trades under the symbol "SB".

www.turkishmaritime.com.tr

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