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General Information (Tables) | 12 Months Ended
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Dec. 31, 2016
General Information |
Schedule of Subsidiaries |
Subsidiary |  | Vessel Name |  | Type |  | Built
Maxeikosiepta Shipping Corporation (“Maxeikosiepta”)(1) |  | Paraskevi |  | Panamax |  | January 2003
Marindou Shipping Corporation (“Marindou”)(1) |  | Maria |  | Panamax |  | April 2003
Maxeikosiexi Shipping Corporation (“Maxeikosiexi”)(1) |  | Koulitsa |  | Panamax |  | April 2003
Avstes Shipping Corporation (“Avstes”)(1) |  | Vassos |  | Panamax |  | February 2004
Kerasies Shipping Corporation (“Kerasies”)(1) |  | Katerina |  | Panamax |  | May 2004
Marathassa Shipping Corporation (“Marathassa”)(1) |  | Maritsa |  | Panamax |  | January 2005
Maxeikositessera Shipping Corporation (“Maxeikositessera”)(2) |  | Efrossini |  | Panamax |  | February 2012
Glovertwo Shipping Corporation (“Glovertwo”)(2) |  | Zoe |  | Panamax |  | July 2013
Shikokutessera Shipping Inc. (“Shikokutessera”)(2) |  | Kypros Land |  | Panamax |  | January 2014
Shikokupente Shipping Inc. (“Shikokupente”)(2) |  | Kypros Sea |  | Panamax |  | March 2014
Gloverfour Shipping Corporation (“Gloverfour”)(2) |  | Kypros Bravery |  | Panamax |  | January 2015
Shikokuokto Shipping Inc. (“Shikokuokto”)(2) |  | Kypros Sky |  | Panamax |  | March 2015
Gloverfive Shipping Corporation (“Gloverfive”)(2) |  | Kypros Loyalty |  | Panamax |  | June 2015
Gloversix Shipping Corporation (“Gloversix”)(2) |  | Kypros Spirit |  | Panamax |  | July 2016
Pemer Shipping Ltd. (“Pemer”)(1) |  | Pedhoulas Merchant |  | Kamsarmax |  | March 2006
Petra Shipping Ltd. (“Petra”)(1) |  | Pedhoulas Trader |  | Kamsarmax |  | May 2006
Pelea Shipping Ltd. (“Pelea”)(1) |  | Pedhoulas Leader |  | Kamsarmax |  | March 2007
Vassone Shipping Corporation (“Vassone”)(2) |  | Pedhoulas Commander |  | Kamsarmax |  | May 2008
Maxeikosi Shipping Corporation (“Maxeikosi”)(1) |  | Pedhoulas Builder |  | Kamsarmax |  | May 2012
Maxeikositria Shipping Corporation (“Maxeikositria”)(1) |  | Pedhoulas Fighter |  | Kamsarmax |  | August 2012
Maxeikosiena Shipping Corporation (“Maxeikosiena”)(1) |  | Pedhoulas Farmer |  | Kamsarmax |  | September 2012
Youngone Shipping Inc. (“Youngone”)(2) |  | Pedhoulas Cherry |  | Kamsarmax |  | July 2015
Youngtwo Shipping Inc. (“Youngtwo”)(2)(3) |  | Pedhoulas Rose ( ex H 1146) |  | Kamsarmax |  | January 2017
Marinouki Shipping Corporation (“Marinouki”)(1) |  | Marina |  | Post-Panamax |  | January 2006
Soffive Shipping Corporation (“Soffive”)(1) |  | Sophia |  | Post-Panamax |  | June 2007
Vasstwo Shipping Corporation (“Vasstwo”)(1) |  | Xenia |  | Post-Panamax |  | August 2006
Eniaprohi Shipping Corporation (“Eniaprohi”)(1) |  | Eleni |  | Post-Panamax |  | November 2008
Eniadefhi Shipping Corporation (“Eniadefhi”)(1) |  | Martine |  | Post-Panamax |  | February 2009
Maxdodeka Shipping Corporation (“Maxdodeka”)(1) |  | Andreas K |  | Post-Panamax |  | September 2009
Maxdekatria Shipping Corporation (“Maxdekatria”)(1) |  | Panayiota K |  | Post-Panamax |  | April 2010
Maxdeka Shipping Corporation (“Maxdeka”)(2) |  | Venus Heritage |  | Post-Panamax |  | December 2010
Shikoku Friendship Shipping Company (“Shikoku”)(2) |  | Venus History |  | Post-Panamax |  | September 2011
Maxenteka Shipping Corporation (“Maxenteka”)(2) |  | Venus Horizon |  | Post-Panamax |  | February 2012
Shikokuepta Shipping Inc. (“Shikokuepta”)(2) |  | Troodos Sun |  | Post-Panamax |  | January 2016
Shikokuexi Shipping Inc. (“Shikokuexi”)(2) |  | Troodos Air |  | Post-Panamax |  | March 2016
Maxpente Shipping Corporation (“Maxpente”)(1) |  | Kanaris |  | Capesize |  | March 2010
Eptaprohi Shipping Corporation (“Eptaprohi”)(1) |  | Pelopidas |  | Capesize |  | November 2011
Maxtessera Shipping Corporation (“Maxtessera”)(2) |  | Lake Despina |  | Capesize |  | January 2014
Pinewood Shipping Corporation (“Pinewood”)(2)(7)(9) |  | TBN - H 1552 |  | Kamsarmax |  | 1H 2018
Gloverthree Shipping Corporation (“Gloverthree”)(2)(4) |  | Kypros Unity |  | Panamax |  | September 2014
Staloudi Shipping Corporation (“Staloudi”)(1)(4) |  | Stalo |  | Post-Panamax |  | January 2006
Shikokuennia Shipping Inc. (“Shikokuennia”)(2)(5) |  | H 1718 |  | Post-Panamax |  | —
Gloverseven Shipping Corporation (“Gloverseven”)(2)(6) |  | TBN - H 835 |  | Panamax |  | —
Kyotofrendo One Shipping Inc. (“Kyotofrendo One”)(2)(8) |  | TBN - H 1551 |  | Kamsarmax |  | —
Kyotofrendo Two Shipping Inc. (“Kyotofrendo Two”)(2)(6) |  | — |  | — |  | —
Maxeikosipente Shipping Corporation (“Maxeikosipente”)(1) |  | — |  | — |  | —
S.B. Sea Venture Company Ltd (10) |  | — |  | — |  | —
(1) Incorporated under the laws of the Republic of Liberia.
(2) Incorporated under the laws of the Republic of the Marshall Islands.
(3) Newbuild acquisition. Refer to Note 22.
(4) Vessel sold in March 2016. Refer to Notes 3, 4, 6 and 19.
(5) Newbuild contract novated in February 2016. Refer to Note 3.
(6) Newbuild contract novated in October 2016. Refer to Note 3.
(7) On July 29, 2016, the Shipsales Contract relating to Hull No. 1552, initially contracted by our subsidiary Kyotofriendo Two, was novated to our wholly owned subsidiary Pinewood. Under an agreement with an unaffiliated third party, upon delivery of the vessel to Pinewood, 100 shares of Series A Preferred Stock of Pinewood will be issued to the unaffiliated third party for proceeds of $16,900 which will be used to finance part of the cost of such vessel, which shares will have preference over shares of common stock of Pinewood with respect to distributions by, and liquidation of, Pinewood. Furthermore, under this agreement Pinewood agreed to (i) pay its own expenses out of its own funds, (ii) keeping its assets and funds separate from the assets and funds of the Company, and (iii) refrain from holding its assets and/or creditworthiness as being available to satisfy any of the obligations of the Company and (iv) take, or refrain from taking, certain other actions designed to ensure that the assets of Pinewood are not available to creditors of Safe Bulkers or its other subsidiaries.
(8) Newbuild delivered in January 2017 from the shipyard and subsequently sold. Refer to Notes 3 and 22.
(9) Estimated completion date for newbuild vessel as of December 31, 2016.
(10) Incorporated under the laws of the Republic of Cyprus, dissolved in September 2014.
Charterers Concentration |
|  | December 31, |
|  | 2014 |  | 2015 |  | 2016 |
Oldendorff Gmbh and Co. KG |  | - |  | 12.67 | % | - |
Global Chartering Ltd |  | - |  | 10.79 | % | 12.49 | %
Glencore Grain B.V |  | - |  | - |  | 10.05 | %

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