Safe Bulkers Inc was incorporated in the Republic of the Marshall Islands on 11 December, 2007. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes for some of the consumers of marine drybulk transportation services. As of February 25, 2014 its fleet comprised 30 vessels, of which nine are Panamax class vessels, seven are Kamsarmax class vessels, 11 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 2,786,600 dwt and an average age of 5.4 years. The majority of vessels in its fleet have sister ships with similar specifications in its existing or newbuild fleet. The Company's vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along shipping routes. Its customers includes over 30 national, regional and international companies, including Bunge, Cargill, Daiichi, Intermare Transport G.m.b.H., Eastern Energy Pte. Ltd., NYK, NS United Kaiun Kaisha, Kawasaki Kisen Kaisha, Oldendorff Carriers, ArcelorMittal or their affiliates. The Company competes with other owners of Panamax class or larger drybulk vessels for charters based upon price, customer relationships, operating expertise, professional reputation and size, age, location and condition of the vessel. The Company's vessels are subject to international conventions and national, state and local laws and regulations in force in international waters and the countries in which the company operate.