Safe Bulkers, Inc. (Safe Bulkers) is an international provider of marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the global consumers of marine dry bulk transportation services. As of February 20, 2011, Safe Bulkers had a fleet of 16 dry bulk vessels, with an aggregate carrying capacity of 1,443,800 deadweight tons and an average age of 3.9 years. The Company’s fleet consisted of two Panamax, three Kamsarmax, two Post-Panamax and two Capesize class vessels. Upon delivery of the last of its contracted new builds, the fleet will be comprised of 25 vessels, having an aggregate carrying capacity of 2,387,800 deadweight tons. During the year ended December 31, 2010, it acquired the vessels Kanaris, a Capesize class vessel, Panayiota K, a Post-Panamax class vessel, and Venus Heritage, a Post-Panamax class vessel and sold Efrossini, a Panamax class vessel.