The New York-listed bulker owner said the six-year revolving credit facility also will be backed by another eight vessels that had been covered by another loan with DNB, a Norwegian bank.

The new loan replaces and prolongs the existing debt on those vessels.

The newbuildings covered under the facility will be delivered in 2015.

The agreement means 12 of the shipowner’s 13 newbuildings are financed, Polys Hajiaonnou-led Safe Bulkers said.

The