Safe Bulkers agreed with DNB Bank

New York listed dry bulk ship owner Safe Bulkers reached an agreement with DNB Bank in order to ease loans and push back the DNB loan’s repayment schedule. A few moths ago, Safe Bulkers pushed back payments of $146m loan. Safe Bulkers CEO Polys Hajioannou moved the final balloon payment from 2020 to 2022. Latest amendments strengthens Safe Bulkers balance sheet, reduces exposure to financial covenants during worst bulk shipping times in history.