Safe Bulkers, Inc., a company owned by shipowner Poly V. Chatzioannou, has confirmed the sale of its MV Michalis H, a Capesize bulk carrier built in China in 2012, for a sum of $35.2 million. This transaction is expected to be delivered in the first quarter of 2026. The sale reflects the company's strategy to renew its fleet, enhancing both the age composition and operational efficiency of its vessels.

According to the company’s President, Loukas Barbaris, the sale was timely and competitively priced, aligning with the company’s broader strategic objectives. The decision to divest the Michalis H was also influenced by the current market conditions, suggesting that the timing of the sale is optimal for maximizing returns. Furthermore, Safe Bulkers maintains an order book of eight newbuilds set for delivery between now and 2029, indicating ongoing investment in expanding its fleet.

Safe Bulkers operates on an international scale, specializing in the transportation of dry bulk cargoes such as coal, grains, and iron ore. The company is publicly traded on the New York Stock Exchange under the ticker symbols "SB", "SB.PR.C", and "SB.PR.D", reflecting its accessibility and investor interest in the maritime transport sector. The ongoing fleet renewal strategy signals a proactive approach to remaining competitive in global shipping markets, particularly as the demand for efficient dry bulk transportation continues to evolve.