Safe Bulkers, ,Inc. Announces the Sale of Panamax Class Vessel

The Company announced today that it has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33 million.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced the sale of a Panamax Class Vessel. Fleet Update. The Company announced today that it has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33 million, excluding commissions to brokers. The vessel will be delivered to its new owners in December 2009. The extended delivery period, which exceeds the market standard of three months, will permit the Company to employ the vessel in the spot market through December 2009. Proceeds from the sale of the vessel will strengthen the Company’s balance sheet.The Company also provided additional details regarding its entry into a resale agreement to acquire a Capesize class newbuild vessel to be delivered in April 2010, which had been previously announced in a press release dated June 8, 2009. The acquisition price for the 177,000 dwt newbuild is $63 million, including commissions, and the vessel will be delivered by the Shanghai Jiangnan Changxing Shipbuilding Co., part of the SWS group.

Read More

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: