Safe Bulkers to Sell 2012-Built Capesize Vessel for $35.2M in Q1 2026
Safe Bulkers has agreed to sell its 2012-built Capesize dry-bulk vessel MV Michalis H for $35.2 million, with delivery scheduled in Q1 2026. The transaction supports the company’s fleet renewal strategy while the orderbook includes eight vessels through 2029.
1. Vessel Sale Agreement
Safe Bulkers has signed an agreement to sell the MV Michalis H, a 2012 Chinese-built Capesize dry-bulk vessel, for a gross consideration of $35.2 million with delivery scheduled in the first quarter of 2026.
2. Strategic Rationale
Management views the sale as timely in the shipping cycle, using proceeds to fund fleet renewal and optimize the mix of vessel ages and types across its drybulk operations.
3. Orderbook Outlook
The company’s orderbook comprises eight vessels slated for delivery between 2026 and 2029, underpinning future capacity expansion and potential new time charter opportunities.