Greek dry bulk owner Safe Bulkers has moved to further streamline its fleet with the sale of two older vessels as the New York-listed owner continues a broad renewal drive.

The company said it has agreed to sell the 2006-built post-panamax Xenia for $13m and the 2008-built kamsarmax Pedhoulas Commander for $14.7m.

Both Japanese-built vessels are expected to change hands after completing their current voyages and with scheduled drydockings due.

The disposals form part of a wider fleet renewal strategy that has accelerated in recent years as owners reposition fleets around tighter environmental regulations and fuel efficiency demands.

Loukas Barmparis, president of Safe Bulkers, said the company had been steadily reducing exposure to older tonnage while investing heavily in modern vessels.

“As part of our fleet renewal strategy, we have recently divested our oldest kamsarmax and post-panamax vessels, following our continued investment in modern newbuilds,” Barmparis said.

“These well-timed divestments support our objective of maintaining a young, modern, fuel-efficient, and environmentally advanced fleet.”

Since 2022, the company has taken delivery of 13 IMO GHG Phase 3 and NOx Tier III-compliant vessels.

The latest sales follow Safe Bulkers’ recent expansion of its orderbook with four additional bulk carrier newbuildings as the company deepens its long-term commitment to fleet renewal.

Safe Bulkers currently operates a fleet of 45 ships on the water while its orderbook stands at 11 dry bulk newbuildings with a combined carrying capacity of about 1m dwt. The newbuildings are scheduled for delivery between the third quarter of 2026 and the second quarter of 2029.