Benzinga | Aug 2, 2021 01:53PM EDT

Safe Bulkers Enters Bareboat Charter Agreement With Purchase Option For Capesize Class Dry-Bulk Vessel

* Safe Bulkers Inc (NYSE:SB) entered a twelve-month bareboat charter agreement with a purchase option for a 2012, Japanese-built, dry-bulk 181,000 dwt, Capesize class vessel.

* The agreement includes a down payment by the company of $4.5 million on signing, a payment of $4.5 million on delivery of the vessel scheduled for Q4, and a daily charter rate of $14,500 over the bareboat charter period.

* It also includes a purchase option in favor of Safe Bulkers at the end of the charter period of $18 million to acquire the Capesize vessel.

* Including this agreement and the previously announced agreements, Safe Bulkers has contracted to acquire four second-hand vessels.

* Price action: SB shares traded higher by 3.29% at $3.45 on the last check Monday.