Safe Bulkers, Inc. Entered into an Agreement for the Acquisition of One Kamsarmax Class Dry-bulk Japanese Vessel

Monaco - December 2, 2021

Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into agreement for the acquisition of a Japanese dry-bulk 82,000 dwt, Kamsarmax class vessel with scheduled delivery date within the fourth quarter of 2023.

The newbuild vessel is designed to meet the requirements of Energy Efficiency Design Index related to Green House Gas, GHG emissions, ‘EEDI, Phase 3’ to comply with the NOx emissions regulation, NOx-Tier III and will be financed from the cash reserves of the Company.

Including this agreement, the company has an orderbook of nine Japanese newbuild vessels, with deliveries starting from second quarter 2022, three of which are Post-panamax class and six are Kamsarmax class vessels.

Dr. Loukas Barmparis, President of the Company commented: "We managed to develop one additional newbuild, sister vessel to existing orderbook, with a relatively prompt delivery date for Japanese newbuildings."

About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services.

The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.

Safe Bulkers, Inc. press release