Safe Bulkers has entered into recapitulation agreements to acquire four Japanese dry bulk newbuilds. The name of the shipbuilder was not disclosed.
The acquisition comprises three 82,000 DWT Kamsarmax class vessels and one 182,000 DWT Capesize class vessel.
Delivery of two Kamsarmax vessels is anticipated in the first half of 2029, while the third is expected during the third quarter. The Capesize vessel is scheduled for arrival in the second half of that year.
The company said it expects internal cash reserves to fund the Kamsarmax acquisitions as no external financing has been arranged yet. Safe Bulkers will secure the Capesize vessel via a finance lease under a 10 year bareboat charter.
Purchase options at predetermined prices will become available five years into the charter period, the company said. It added these Kamsarmax units share designs with existing orderbook vessels to ensure lower fuel consumption.
The latest deal brings the outstanding orderbook to 11 newbuild vessels, including two that are methanol dual-fuelled. Deliveries are staggered with three ships arriving in 2026, two in 2027, one in 2028, and five in 2029.
