Safe Bulkers has reached an agreement with ING Bank to amend a revolving credit facility to relax covenants.
The deal with the Dutch bank is the latest in a series by the New York-listed bulker owner to enhance financial flexibility amid a difficult dry-bulk market.
The amendment covers a $32m loan covering two newbuildings.
"This is the second agreement we announce targeting to align financial covenants amongst our banks and increase our financial flexibility for the coming years," said president Loukas Barmparis.
The
