The bulker is scheduled for deliver in the first half of 2022, and Safe Bulkers has financed 90% of the deal by entering into a sale and lease back through a bareboat charter agreement with a third party.
The bareboat charter has a duration of ten years with a purchase obligation at the end charter, as well as purchase options during the charter.
Loukas Barmparis, president of Safe Bulkers, commented: “This is a new investment at the edge of the technological design and environmental performance, targeting to renew our fleet.
In addition, the agreed financing allows for limited impact on our liquidity, which presently exceeds US$100 million, as we have not and do not intend to utilize our previously announced at the market (ATM) equity offering at stock price levels we have seen year to date.”
Safe Bulkers currently owns a fleet of 28 bulk carriers according to VesselsValue data.