Safe Bulkers, Inc. operates as an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for various consumers of marine drybulk transportation services. As of February 5, 2016, the company’s fleet comprised 37 vessels, of which 14 are Panamax class vessels, 8 are Kamsarmax class vessels, 12 are Post-Panamax class vessels and 3 are Capesize class vessels, with an aggregate carrying capacity of 3,341,800 deadweight tons and an average age of 6.1 years. The company employs its vessels on both period time charters and spot time charters, according to its assessment of market conditions, with various consumers of marine drybulk transportation services. As of February 5, 2016, the average remaining duration of the charters for the company existing fleet was 1.15 years. The company’s vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. It might employ its vessels in time charters or in voyage charters. Customers The company’s customers include approximately 30 national, regional and international companies, including Bunge, Cargill, Daiichi Chuo Kisen Kaisha, Intermare Transport G.m.b.H., Eastern Energy Pte. Ltd., NYK, NS United Kaiun Kaisha, Kawasaki Kisen Kaisha, Oldendorff G.M.B.H and co. KG, Louis Dreyfus Armateurs, Louis Dreyfus Commodities, ArcelorMittal or their affiliates. During 2015, two of the company’s charterers accounted for 23.46% of its revenues, namely Oldendorff Gmbh and Co. KG and Global Chartering Ltd, an affiliate of ArcelorMittal, with each one accounting for approximately 10% of total revenues. Environmental and Other Regulations The company’s vessels are subject to international conventions and national, state and local laws and regulations in force in international waters and the countries in which they operate or are registered, including environmental protection requirements governing the management and disposal of hazardous substances and wastes, the cleanup of oil spills and the management of other contamination, air emissions, water discharges and ballast water. These laws and regulations include the International Convention for Prevention of Pollution from Ships, the International Convention for Safety of Life at Sea and implementing regulations adopted by the International Maritime Organization (IMO), the European Union, and other international, national and local regulatory bodies. The company’s vessels are subject to standards imposed by the IMO, the United Nations agency for maritime safety and the prevention of pollution by ships. The operation of the company’s vessels is also affected by the requirements set forth in the IMO’s International Safety Management Code. The company’s vessels have U.S. Coast Guard-approved response plans. History Safe Bulkers, Inc. was founded in 2007. The company was incorporated in the Republic of the Marshall Islands in 2007 under the Marshall Islands Business Corporations Act.
safe bulkers inc
(SB:New York Consolidated)
Apt. D11, Les Acanthes
6, Avenue des Citronniers
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