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Safe Bulkers is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world's largest consumers of marine drybulk transportation services.
Our current fleet of 11 Japanese-built drybulk vessels, with an aggregate carrying capacity of 887,900 deadweight tons ("dwt") and an average age of 2.6 years as of December 31, 2007, is one of the world's youngest fleets of Panamax, Kamsarmax and Post-Panamax class vessels. Our fleet is expected to almost double (on a dwt basis) by year end 2010 as the result of the delivery of nine drybulk newbuilds, comprised of two Kamsarmax, five Post-Panamax and two Capesize class vessels. Upon delivery of the last nine contracted newbuilds in May 2010, our fleet will be comprised of 20 vessels, having an aggregate carrying capacity of approximately 1,849,900 dwt and an average age of 3.2 years. We have completed our initial public offering and you can find our common stock listed on the New York Stock Exchange under the symbol "SB."
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