Safe Bulkers, Inc. announced that it has entered into a new period time charter for the Pedhoulas Trader, a 82,300 dwt Kamsarmax class vessel, for a duration of 23 to 25 months, with a forward delivery date in August of 2013, at a gross daily charter rate linked to the Baltic Panamax Index (BPI) plus a premium of 6.5%.
Dr. Loukas Barmparis, President of the Company, said: “This new two-year time charter increases our charter coverage for 2013 and onwards and strengthens our relationships with our charterers. At the same time we maintain exposure in the spot market which could prove beneficial in case of spot charter market appreciation after 2013.”
