Safe Bulkers sells Capesize vessel for $35.2m in fleet renewal move

Cyprus-linked shipping company Safe Bulkers, Inc. announced it has entered into an agreement for the sale of the MV Michalis H, a 2012 Chinese-built Capesize class dry-bulk vessel, at a gross sale price of $35.2 million, with forward delivery within the first quarter of 2026.

At the same time, the company clarified the move forms part of its fleet renewal strategy.

Loukas Barmparis, president of the company said that “In the context of our renewal strategy we sold the MV Michalis...