Safe Bulkers, a dry cargo specialist shipowner listed in the US, is investing $580m in a multi-year newbuilding programme and has recently phased out another one of its ageing vessels.

Parallel to announcing financial earnings on Monday, the Polys Hajioannou-led company revealed that it has sold the 76,000-dwt panamax Maritsa (built 2005) to undisclosed buyers for $12.2m.

The Japanese-built ship is the oldest unit in Safe Bulkers’ fleet of 48 panamaxes, kamsarmaxes, post-panamaxes and capesizes.