Safe Bulkers Logistics Acquisition | M&A Deal

Safe Bulkers has entered into recapitalisation acquisition agreements for four Japanese newbuild dry-bulk vessels, a logistics other acquisition business in New York. Safe Bulkers is an international marine dry bulk transportation services provider, and the logistics M&A expands its dry-bulk fleet capacity through Kamsarmax and Capesize newbuilds. The NY acquisitions support logistics other acquisition strategy by adding IMO GHG EEDI Phase 3 and NOx Tier III compliant ships designed to reduce fuel consumption and greenhouse gas emissions. The public company acquisition is structured as recapitalisation acquisition, with three Kamsarmax vessels funded from cash reserves and one Capesize vessel financed via a 10-year finance lease under a bareboat charter with predetermined purchase options.