Safe Bulkers bolsters fleet with Phase 3 – NOx Tier III Kamsarmax newbuild

New York-listed dry bulk owner Safe Bulkers has entered into a deal to acquire an 82,000 dwt Kamsarmax bulker with a scheduled delivery date within the third quarter of 2026.

According to Safe Bulkers, the newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduction of greenhouse gas emissions as adopted by the International Maritime Organization and also comply with the latest NOx emissions regulation, NOx-Tier III.

The dry bulk vessel is being built in Japan at an undisclosed yard.

“Consistent with our ESG strategy, we have placed an additional order for a Phase 3 newbuild targeting a gradual fleet renewal and the subsequent operational and financial advantages associated with it,” Dr. Loukas Barmparis, President of Safe Bulkers, said.

The vessel is a sister vessel to some of the existing newbuilds in the company’s orderbook, all featuring advanced energy efficiency characteristics resulting in lower fuel consumption.

Including this agreement, the bulker owner has an outstanding orderbook of nine Phase 3 newbuild vessels, with deliveries scheduled: three in 2024, two in 2025, three in 2026, and one in 2027.

Two of these vessels are methanol dual-fuelled, and unlike their counterparts, are being built in China. Safe Bulkers moved into the dual-fuel space back in October 2023.

The shipyard entrusted with the job is Zhoushan Tsuneishi Shipbuilding, the Chinese base of Japan’s Tsunesihi Shipbuilding.

The yard has also been picked by another Greek dry bulk owner, namely Diana Shipping, for the construction of methanol-powered bulkers.

The shipyard says that the KAMSARMAX is Tsuneishi Shipbuilding’s best-selling ship design, with a sales record of more than 350 ships worldwide.

Safe Bulkers has already taken delivery of seven IMO GHG Phase 3 – NOx Tier III vessels. Its current fleet comprises a fleet of 46 vessels with an aggregate carrying capacity of 4.6 million dwt and an average age of 10.5 years.

Twelve are eco-ships built after 2014, and seven are IMO GHG Phase 3 – NOx Tier III vessels built from 2022 onwards.