Safe Bulkers strengthens Cyprus's position: largest shipowner under the Cypriot flag expands 'green' fleet

International shipping company Safe Bulkers has confirmed its status as the largest shipowner in the Cyprus registry: 43 of the company's 45 vessels fly the Cypriot flag. The company operates a modern fleet of dry bulk carriers with a total carrying capacity of 5.1 million deadweight tons and continues to invest actively in environmental technologies and fleet renewal.

Safe Bulkers specializes in the transportation of grain, iron ore, coal, and other bulk cargoes worldwide. The company has offices in Limassol, Athens, Monaco, and Geneva, and its shares are listed on the New York Stock Exchange. In recent years, the company has significantly strengthened its environmental strategy, focusing on reducing carbon emissions and implementing energy-efficient technologies.

Since 2020, Safe Bulkers has published annual sustainability reports reflecting environmental, social, and governance initiatives. The company has already sold 16 outdated vessels, replacing them with more modern and fuel-efficient ones. An additional eight new vessels with high environmental standards have been ordered, including two dual-fuel Kamsarmax vessels capable of running on methanol.

According to the company, the carbon emission intensity of the fleet decreased by 19.3% between 2021 and 2024. All new vessels will fly the Cypriot flag, strengthening Cyprus's position as one of Europe's leading maritime registries.

Beyond commercial activities, the company actively participates in social projects. Safe Bulkers funds scholarships for maritime students and previously donated a specialized high-speed vessel for rescue and research operations to the Republic of Cyprus.