Benzinga | Aug 2, 2021 09:01AM EDT

Safe Bulkers, Inc. Enters Bareboat Charter Agreement With Purchase Option For Capesize Class Dry-Bulk Vessel; Daily Charter Rate $14,500

Safe Bulkers, Inc. (the Company) (NYSE:SB), an international provider of marine drybulk transportation services, announced today that in relation to its fleet renewal strategy, it has entered into a twelve-month bareboat charter agreement, with a down payment by the Company of $4.5 million on signing, a payment of $4.5 million on delivery of the vessel to the Company scheduled for the fourth quarter of 2021, a payment of a daily charter rate of $14,500 over the period of the bareboat charter and a purchase option in favor of the Company at the end of the charter period of $18.0 million for the acquisition of a 2012, Japanese-built, dry-bulk 181,000 dwt, Capesize class vessel.