Safe Bulkers, Inc. announced the sale of the MV Michalis H, a 2012‑built, Chinese‑constructed Capesize dry‑bulk vessel, for $35.2 million. Delivery of the vessel is scheduled for the first quarter of 2026, marking the company’s first major asset divestiture of the year.
The transaction is a key element of Safe Bulkers’ fleet‑renewal strategy. By divesting an older, less efficient vessel, the company frees up capital that will be deployed toward its orderbook of eight newbuilds, including six Phase III vessels and two dual‑fuel vessels slated for delivery through 2029. President Dr. Loukas Barmparis said, "In the context of our renewal strategy we sold the MV Michalis H at what we consider an optimal timing in the cycle and at a competitive price." He added that the company’s current orderbook consists of eight vessels from now until 2029.
Financially, Safe Bulkers maintains $390 million in liquidity and a leverage ratio of 35 %. The sale contributes to liquidity and helps keep leverage within the company’s target range, enabling continued capital returns while funding newer, fuel‑efficient vessels that meet IMO GHG Phase 3 and NOx Tier III compliance.
The sale aligns with the company’s focus on a modern, eco‑efficient fleet, positioning it to secure premium charter rates in a market where vessel age and efficiency drive pricing power. The inclusion of dual‑fuel options in the orderbook further supports the company’s strategy to meet evolving environmental regulations and capture growth in low‑emission shipping demand.
Overall, the divestiture of the MV Michalis H reflects Safe Bulkers’ disciplined capital allocation and its commitment to maintaining a competitive, environmentally compliant fleet that underpins long‑term shareholder value.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.