Maritime company Safe Bulkers Inc., led by Cypriot shipowner Polys Hajioannou, listed on the New York Stock Exchange, has agreed to sell the MV Pedhoulas Merchant, with a Cypriot flag, a 2006 Japanese-built Kamsarmax-class dry-bulk vessel, for $11.5 million, with delivery scheduled for September 2025.

President Loukas Barmparis said that with this agreement, the company wound up the sale of its two oldest Kamsarmax vessels, Pedhoulas Merchant built in 2006 and Pedhoulas Leader built in 2007.

“We executed our strategy to renew our fleet in view of the four newbuilds expected to be delivered to us within 2026. The aggregate orderbook of the company consists of six vessels until 2027,’’ he added.

The company, an international provider of marine dry-bulk transportation services, transports commodities such as coal, grain and iron ore along worldwide shipping routes for some of the world’s largest charterers.

Its common stock, series C preferred stock and series D preferred stock are listed on the NYSE under the symbols SB, SB.PR.C and SB.PR.D.

Safe Bulkers further stated that its forward-looking statements are subject to risks and uncertainties, including changes in demand for dry-bulk vessels, competitive market factors, fluctuations in time charter equivalent rates and fuel prices, and political or economic disruptions affecting shipping routes.

It also referred to potential impacts from vessel construction risks, tariffs, banking sector volatility, and broader geopolitical developments, adding that actual results may differ materially from current expectations and that there is no obligation to update forward-looking statements in light of future events or changes in circumstances.