As part of its strategic renewal, Safe Bulkers, the Limassol-based shipping company led by Polys Hajioannou, has sold the ‘Pedhoulas Leader’ for $12.5 million, marking another step in its transition to a more modern, energy-efficient fleet.

The vessel, a Kamsarmax-class ship built in 2007 in Japan, is among the oldest in the company’s fleet.

According to the announcement, delivery to the buyer is scheduled between August and October 2025.

Loukas Barbaris, president of Safe Bulkers, said the company achieved its target sale price and added that the transaction forms part of its broader renewal strategy.

He noted that Safe Bulkers has already placed orders for six new energy-efficient vessels, four of which are expected to be delivered in 2026.

The move aligns with the company’s investment programme aimed at complying with environmental regulations, reducing fuel consumption, and boosting competitiveness in the dry bulk shipping sector.

Safe Bulkers is listed on the New York Stock Exchange and operates globally, with a fleet comprising Capesize, Post-Panamax, Kamsarmax and Panamax vessels.

It is also one of the largest shipowners under the Cyprus flag, continuing to register vessels on the island and reinforcing Cyprus’ status as a global maritime hub.

The company maintains a strong presence in Cyprus through Safe Bulkers Management Ltd., which oversees the fleet’s technical, commercial and administrative operations from Limassol.

Hajioannou has served as chairman and CEO of Safe Bulkers since its NYSE listing in 2008, anchoring the company’s long-standing leadership and strategic direction.