Safe Bulkers Accelerates Sustainable Growth With Japanese-Built Dry Bulk Newbuildings

Modernizing The Fleet With Advanced Technology

Safe Bulkers, the Cyprus-linked dry bulk shipping company listed on the New York Stock Exchange, has placed an order for four new Japanese-built vessels as part of its ongoing fleet renewal strategy. The agreement includes the company’s first Capesize newbuilding alongside three Kamsarmax vessels, further expanding its focus on fuel-efficient and environmentally compliant ships.

Strategic Vessel Acquisitions And Financing Structure

The order consists of three 82,000 deadweight tonne Kamsarmax vessels and one 182,000 deadweight tonne Capesize vessel, with all four ships scheduled for delivery during 2029. Two Kamsarmax vessels are expected to be delivered during the first half of the year, while the third is scheduled for the third quarter. Delivery of the Capesize vessel is planned for the second half of 2029. Financing for the Kamsarmax vessels will come through the company’s existing cash reserves. Meanwhile, the Capesize vessel will be financed through a finance lease tied to a ten-year bareboat charter agreement that includes purchase options after five years at predetermined prices.

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Commitment To Environmental And Operational Excellence

All four vessels are being built to comply with the International Maritime Organization’s Energy Efficiency Design Index Phase 3 standards as well as NOx Tier III emissions requirements. The Kamsarmax vessels will also incorporate energy-efficiency technologies designed to reduce fuel consumption and improve operational performance. Safe Bulkers currently operates 13 vessels meeting IMO GHG Phase 3 and NOx Tier III standards. Following the latest order, the company’s outstanding orderbook will increase to 11 vessels, including two methanol dual-fuel ships scheduled for delivery between 2026 and 2029.

Leadership And Strategic Vision

Polys Hajioannou and Loukas Barmparis said the delivery schedule aligns with the company’s broader strategy of maintaining a younger, more fuel-efficient and environmentally advanced fleet. Management added that the investment reflects continued focus on selective vessel acquisitions from leading shipyards as environmental standards across global shipping continue to tighten.

Industry Impact And Future Prospects

Safe Bulkers operates internationally in the transportation of dry bulk cargoes, including grain, coal and iron ore, across major global trade routes. The fleet expansion is expected to strengthen the company’s operational efficiency while supporting broader decarbonisation targets across the maritime sector. Shares of Safe Bulkers trade on the New York Stock Exchange under the symbols SB, SB.PR.C and SB.PR.D.

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Keve Welcomes New Cyprus Business Development Organisation

by THEFUTURE.TEAM

July 17, 2026

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed Parliament’s unanimous approval of legislation establishing the Cyprus Business Development Organisation, describing it as a major step toward improving access to finance for small and medium-sized enterprises, startups and self-employed professionals.

Expanding Access To Finance

The legislation creates a new public body aimed at addressing financing gaps by supporting businesses that struggle to secure funding through traditional channels.

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According to Keve, the initiative could strengthen entrepreneurship, boost competitiveness and support Cyprus’ green and digital transition. The chamber has long argued that SMEs rely too heavily on bank financing, limiting investment, expansion and innovation.

Keve Calls For Swift Implementation

Keve said it helped shape the legislation through the consultation process and called for the organisation to become operational as quickly as possible. It also pledged to continue working with the Finance Ministry and the organisation’s management to support implementation.

How The Organisation Will Operate

Approved by Parliament on Tuesday, the legislation establishes Cyprus’ national business development body under the supervision of the Finance Minister, while the Central Bank of Cyprus will oversee anti-money laundering compliance.

The organisation will design financing programmes, provide loans and conduct studies to identify weaknesses in the financing market.

Cyprus will provide €60 million in initial capital. Over time, the body will also be able to raise funding from European and international institutions and benefit from state guarantees linked to approved strategic priorities.

Recovery Plan Milestone

Creation of the organisation is one of the final milestones under Cyprus’ Recovery and Resilience Plan and is required for the country to receive the plan’s ninth and final payment. Appointment of the board of directors remains the last outstanding step.

Before approving the bill, the Finance Ministry revised the draft following consultations with MPs and stakeholders. The changes removed provisions allowing the organisation to establish companies and narrowed the list of eligible beneficiaries by excluding small mid-cap companies.

Lawmakers also strengthened governance rules by introducing stricter board suitability requirements, conflict-of-interest safeguards, enhanced reporting obligations and borrowing limits. A seven-member board appointed by the Cabinet will oversee the organisation, while a transitional board will serve for two years until it becomes fully operational.

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