Greek dry bulk owner Safe Bulkers has sold one of its oldest vessels as it makes room for a wave of newbuild deliveries.

The New York-listed firm is offloading the 2007 Tadotsu Tsuneishi-built kamsarmax Pedhoulas Leader to an undisclosed buyer for $12.5m.

The 82,300 dwt bulker, estimated by online pricing platform VesselsValue at around $11.4m, is expected to change hands between August and October.

Safe Bulkers counts a fleet of 47 ships, of which 14 kamsarmaxes, with six newbuilds in the same class delivering from the second quarter of 2026 through to the first quarter of 2027.

“As part of our fleet renewal strategy, we have sold one of our oldest vessels, having achieved the targeted sale price,” noted Loukas Barmparis, president of Safe Bulkers.

The company last sold ships in March 2024, banking around $41m from the disposal of a 2010-built post-panamax and one 2011-built panamax unit.