Safe Bulkers is continuing its fleet renewal strategy with the sale of two ageing dry bulk vessels, as the Greek shipowner pushes further toward a younger and more environmentally efficient fleet.
The New York-listed company confirmed it has agreed to sell the 2006-built post-panamax Xenia for $13m and the 2008-built kamsarmax Pedhoulas Commander for $14.7m.
Both vessels were built in Japan and are expected to be delivered to their new owners once they complete their current voyages. The sales also come ahead of scheduled drydockings, a timing that reflects the company’s ongoing effort to optimise fleet management and asset value.
The disposals are part of a broader strategy that Safe Bulkers has been intensifying over the past few years, as shipping companies increasingly adapt their fleets to stricter environmental rules, fuel-efficiency targets and changing market expectations.
Loukas Barmparis, president of Safe Bulkers, said the company has been steadily reducing its exposure to older ships while continuing to invest in modern tonnage.
“As part of our fleet renewal strategy, we have recently divested our oldest kamsarmax and post-panamax vessels, following our continued investment in modern newbuilds,” he said.
He added that the sales support the company’s long-term objective of maintaining “a young, modern, fuel-efficient and environmentally advanced fleet.”
Since 2022, Safe Bulkers has taken delivery of 13 vessels compliant with IMO GHG Phase 3 and NOx Tier III environmental standards, underlining its focus on lower-emission operations and future regulatory compliance.
The latest sales also come shortly after the company expanded its orderbook with four additional dry bulk newbuildings, reinforcing its long term commitment to fleet modernisation.
Safe Bulkers currently operates 45 vessels, while its active orderbook includes 11 dry bulk newbuildings with a combined carrying capacity of around 1m dwt. Deliveries are scheduled between the third quarter of 2026 and the second quarter of 2029.
