Greek dry bulk owner Safe Bulkers has continued to clear out older tonnage with the sale of another one of its ageing kamsarmax vessels as it makes room for newbuild deliveries over the next two years.

The New York-listed firm is offloading the 2007 Tadotsu Tsuneishi-built Pedhoulas Merchant to an undisclosed buyer for $11.5m.

The 82,300 dwt bulker, estimated by online pricing platform VesselsValue at around $10.4m, is expected to change hands in September.

The move comes hot on the heels of the sale of the 2007-built sister vessel Pedhoulas Leader for $12.5m, with fleet exit set between August and October.

Commenting on the sale, Loukas Barmparis, president of Safe Bulkers, said: “With this agreement, we wound up the sale of our two oldest kamsarmax class vessels, executing our strategy to renew our fleet in view of the four newbuilds expected to be delivered to us within 2026.”

Safe Bulkers’ fleet stands at 47 ships, including the kamsarmax pair agreed for sale, with six newbuilds in the same class delivering through to the first quarter of 2027.