Cadet Scholarship Program

Safe Bulkers, Inc. (NYSE: SB) and its CEO, Polys V. Hajioannou, in the context of the Company’s Environmental, Social and Governance (“ESG”) strategy are pleased to announce the launching of the Annual Cadet Scholarship Program for Students-Cadets in Cyprus Maritime Academy/Intercollege.

The program consists of five (5) annual scholarships that will be granted to Cypriot or Greek citizens enrolled in the 4-year Nautical Science program at Cyprus Maritime Academy. Each scholarship amounts to 5,000 Euros annually, covering the cost of the tuition fees and living expenses. The scholarships are renewed annually subject to recipients’ satisfactory academic progress and successful promotion to the next year. At the same time, the Cyprus Maritime Academy will provide a fixed scholarship amount to all Cadets that are awarded the scholarship by Safe Bulkers, resulting in the full coverage of the tuition fees.

When the program reaches its full implementation, the Company will offer scholarships to twenty (20) Students-Cadets in total for the duration of the 4-year program, valued at 100,000 Euros annually. Safe Bulkers will provide to all students sea-service training onboard its modern, energy-efficient, Cyprus-flagged vessels equipped with high-speed satellite internet connectivity and upon graduation full employment leading to a career as Deck Officers up to Captain Class A and prospective placement as Port Captains or fleet operators in the marine department of its Cyprus-based offices.

Safe Bulkers is proud to work with Cyprus Maritime Academy and support young people who are interested in embarking on a career at sea and excel as Deck Officers who could later promote to Masters. This scholarship program combined with Safe Bulkers Annual Scholarship Program for studies in marine engineering and other maritime fields, aims to enable and encourage young individuals to further their education and pursue a professional career in the maritime industry. Being the largest shipowner under the Cyprus Registry, Safe Bulkers is firmly committed to developing a pool of highly educated young talents equipped with the academic skills necessary to join the Cyprus’ workforce in the future, in the efforts to enhance the strength and growth of Cyprus maritime cluster.

More information about the terms and conditions of the Cadet Scholarship Program is available on Cyprus Maritime Academy website