Safe Bulkers plans to keep scrubber installations this year as its top priority amid a shipping sector seeing further consolidation.
Star Bulk Carriers yesterday announced plans to buy Deplhin Shipping's 11 ships for $139.5m, after growing its fleet by 41 ships last year.
In early April, Genco Shipping & Trading's John Wobensmith told TradeWinds it will look for M&A opportunities to enlarge its fleet of 58 bulkers ranging from handysize to capesize.
Safe Bulkers plans to stick with 41 ships ranging from panamax to capesize while focusing on fitting 20 of them with scrubbers by the IMO 2020 deadline.
"At the moment, we are investing in scrubbers," chief executive Polys Hajioannou said today during its first-quarter earnings call.
"We are very focused on this."
He said he has not "come across any proposal" like Star Bulk's latest move but may consider sale-and-purchase opportunities beyond this year.
"I don't expect we will be doing too many things" this year, he said.
Safe Bulkers' fleet consists of 14 panamaxes, 10 kamsarmaxes, 13 post-panamaxes and four capesizes.
