Safe Bulkers, Inc. has announced the sale of the MV Michalis H, a 2012 Capesize class dry-bulk vessel, for a gross price of $35.2 million. This strategic decision is part of the company’s ongoing fleet renewal initiative.
The vessel, built in China, is set for forward delivery in the first quarter of 2026. Loukas Barmparis, president of Safe Bulkers, commented on the timing of the sale, stating, “In the context of our renewal strategy we sold the MV Michalis H at what we consider an optimal timing in the cycle and at a competitive price.”
Safe Bulkers is known for its role as a global provider of marine drybulk transportation services, primarily focusing on transporting essential bulk cargoes such as coal, grain, and iron ore. The company operates along major shipping routes, catering to some of the largest users in the industry.
As part of the sale announcement, Safe Bulkers indicated that its current orderbook includes eight vessels scheduled for delivery through to 2029, further reflecting its commitment to modernising its fleet.
The company’s stock is publicly traded on the New York Stock Exchange under the symbols “SB” for common stock, “SB.PR.C” for series C preferred stock, and “SB.PR.D” for series D preferred stock, giving investors a stake in its operations.
While the announcement included forward-looking statements about future growth and potential vessel acquisitions, the company also cautioned that these projections are subject to various risks and uncertainties. Factors such as changes in demand for dry-bulk vessels, market conditions, and economic disruptions can significantly influence outcomes.
Risks associated with global events, including natural disasters and geopolitical tensions, might also impact operations. Safe Bulkers made it clear that it cannot guarantee the accuracy of these forward-looking statements and has no obligation to update them as conditions change.
