Safe Bulkers Secures Deal for Two Dry-Bulk Vessels with Dual-Fuel Methanol Capability

Safe Bulkers has recently inked contracts for the acquisition of two cutting-edge methanol dual-fueled vessels, each boasting an impressive deadweight tonnage of 81,200, falling within the Kamsarmax class of dry-bulk vessels. These acquisitions underscore the company's commitment to embracing environmentally friendly and energy-efficient shipping practices.

The newly acquired vessels have been meticulously designed to not only meet but exceed the stringent requirements of the Energy Efficiency Design Index pertaining to Greenhouse Gas (GHG) emissions in Phase 3. Furthermore, they are in full compliance with the NOx emissions regulation, specifically NOx-Tier III.

What sets these vessels apart is their versatility in terms of fuel sources. They are equipped to operate seamlessly using methanol as well as conventional fuels. However, the real environmental breakthrough occurs when they are powered by green methanol. In such a scenario, these vessels are capable of achieving close to zero GHG emissions, as determined by the life cycle assessment (LCA) methodology, which considers emissions from the well (production) to the propeller (utilization).

Safe Bulkers has demonstrated its proactive stance toward reducing its environmental footprint by already taking delivery of five vessels compliant with IMO GHG Phase 3 and NOx Tier III regulations. These vessels are a testament to the company's commitment to environmentally responsible shipping practices. Moreover, Safe Bulkers has nine additional newbuilds in the pipeline, reaffirming its dedication to sustainable shipping. Among these newbuilds, two are dual-fueled vessels, and they are scheduled for delivery in various phases, with two slated for 2023, three for 2024, two for 2025, one for 2026, and the final one in the first quarter of 2027.

In a world where environmental sustainability is becoming increasingly critical, Safe Bulkers is positioning itself as a leader in adopting innovative and eco-friendly technologies within the shipping industry. The acquisition of methanol dual-fueled vessels not only aligns with the company's commitment to EEDI and NOx-Tier III compliance but also represents a significant step towards minimizing its carbon footprint.

Safe Bulkers' focus on incorporating green methanol as a fuel source is especially noteworthy. Methanol is considered a promising alternative to conventional marine fuels due to its potential to reduce GHG emissions. By embracing this clean-burning fuel, Safe Bulkers is actively contributing to the global maritime industry's ongoing efforts to transition toward more sustainable practices.

The company's commitment to sustainability extends beyond these two acquisitions, as evidenced by its extensive pipeline of newbuilds set to join its fleet in the coming years. With these additional vessels, Safe Bulkers is poised to make a substantial impact on reducing GHG emissions and ensuring compliance with regulatory requirements.