The four Japanese panamaxes, three Japanese post-panamaxes, two Japanese kamsarmaxes and two Chinese kamsarmaxes will cost a further $278m in yard instalments.
Clarksons lists the company as having one 77,000-dwt ship and two 84,000-dwt vessels due from Imabari in Japan in 2015.
Another three 77,000-dwt bulkers are set for hand-over from Sasebo: one in 2015 and two in 2016.
Safe said it had reached "recapitulation agreements" to stretch more deliveries into 2017 and 2018.
President
