Safe Bulkers affiliate emerges with a pair of MR tankers under construction in China

Multiple shipping data platforms list the Greece-based company as having a pair of 50,000-dwt MR tankers being built at COSCO Guangdong, with deliveries scheduled through 2027.

Neither Safety Management Overseas nor Safe Bulkers have responded to enquiries from Riviera.

The company is described as a shipmanagement subsidiary of the Polys V Hajioannou-led dry bulk specialist Safe Bulkers across all group corporate websites.

Notably, Safety Management Overseas appears to have strengthened its team with personnel from the tanker sector. Michael Kontaratos, who recently updated his LinkedIn profile, is now listed as general manager. He previously served as financial advisor and corporate strategist at Pantheon Tankers and Alpha Gas, both led by Anna Angelicoussis.

Equasis records Safety Management Overseas with a fleet of 17 bulk carriers, many of which also appear in Safe Bulkers’ fleet list. Safe Bulkers itself owns 45 bulk carriers, with six more under construction for delivery in 2027, reflecting the owner’s recent heavy investment in newbuildings.

MR tanker orders remain limited

Greek MR2 tanker newbuilding contracts have been limited this year. According to Xclusiv Shipbrokers, Greek owners placed orders for eight vessels between January and October 2025, compared with 30 across 2024.

Globally, 40 MR2 tankers have been ordered so far this year, down from 175 vessels added to orderbooks in 2024.

According to shipbuilding data platforms, COSCO Guangdong is currently managing an orderbook that includes small and MR product tankers. In recent years, another Greek company, Monte Nero Management, has also been linked to orders at the yard.