Safe Bulkers agrees to sell vessel for $33 million

DENVER (AP) -- Safe Bulkers Inc., a drybulk shipping services provider, said Friday it has entered into an agreement to sell a 2003 Panamax class vessel for $33 million.

Safe Bulkers, based in Athens, Greece, did not identify the new owner of the vessel, which will be delivered in December. The company said it will use the vessel until delivery. The sale price excludes broker commissions.

Safe Bulkers also said it will receive delivery of a Capesize class newbuild vessel in April. The acquisition, announced earlier this month, will cost $63 million including commissions.

The announcement was made after the market closed Friday. Shares of Safe Bulkers rose 6 cents to close at $6.64.

(Source: Yahoo)