Safe Bulkers, Inc. Announces Sale of Vessels

Safe Bulkers, Inc. has entered into agreements for the sale of two drybulk vessels: the MV Xenia (2006-built Post-Panamax) for $13.0 million and the MV Pedhoulas Commander (2008-built Kamsarmax) for $14.7 million. These sales are part of the company's fleet renewal strategy, aimed at maintaining a young, modern, fuel-efficient, and environmentally advanced fleet. The company has taken delivery of thirteen IMO GHG Phase 3 – NOx Tier III vessels since 2022 and has eleven additional newbuilds on order. The divestments support the company's objective of fleet modernization, with both vessels expected to be delivered after completing their current voyages and scheduled dry-dockings. The company is an international provider of marine drybulk transportation services, with its common stock and preferred stocks listed on the NYSE.