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Noble eyes ETA’s frozen funds
Hong Kong trader attempts to unthaw cash tied to Heidmar case after Emirates Trading fails to settle arbitration award.
Safe slates two in China
Safe Bulkers has penned two kamsarmax newbuildings in China less than a month after raising nearly $80m from shareholders.
Polys Hajioannou.
Polys Hajioannou-headed Safe will pay $32.2m each for the 82,000-dwt ships.
Loukas Barmparis, president of Safe Bulkers, told TradeWinds: “Everything can go up or down, but we feel safe at this level acquiring newbuild vessels.”
Safe will take delivery of the ships in the fourth quarter of 2011 and the first quarter of 2012.
Barmparis could not be drawn on which yard will build the vessels, which take the New York-listed owner’s fleet to 21 ships.
According to Clarksons, Safe has nine newbuildings on its books.
The figure comprises two capesizes at Rongsheng, five post-panamaxes at Imabari and a pair of 80,000-dwt ships at STX.
Barmparis hints further orders could be in the pipeline. “We did this offering to be able to take advantage of good opportunities,” he said.
“We are able to expand even further. We have not spent everything.”
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