Safe Bulkers Divests 2006-Built Kamsarmax Vessel For ~$16M

Safe Bulkers Inc SB has agreed to sell MV Pedhoulas Trader, a 2006 Japanese-built, Kamsarmax class, dry-bulk vessel, for a net sale price of $15.84 million.
The sale carries a forward delivery date lies within December 2022.
"We continued to sell older tonnage as we take delivery of our newbuild IMO Phase 3 vessels, improving the fleet environmental performance and increasing our competitiveness in the new more stringent regulatory environment," said Safe Bulkers president Loukas Barmparis.
Safe Bulkers held $167.8 million in cash and equivalents as of July 22, 2022. It had $449.1 million of outstanding consolidated debt.
The company provides marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore, along worldwide shipping routes.
Price Action: SB shares are trading lower by 3.25% at $2.68 on the last check Monday.

Overview Rating:

Good

0100