Safe Bulkers, Inc. is an international provider of marine drybulk transportation services. The Company transports bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for consumers of marine drybulk transportation services. As of December 31, 2007, the Company owned a fleet of 11 Japanese-built drybulk vessels, including five Panamax, three Kamsarmax and three Post-Panamax class vessels, with an aggregate carrying capacity of 887,900 deadweight tons (dwt). As of December 31, 2007, the average age of the vessels in Safe Bulkers, Inc.'s fleet was 2.6 years. The Company's operations are managed by its manager, Safety Management Overseas S.A.