Safety Management Overseas was incorporated in Panama in 1994, inheriting the experience and practically being the descendant of Alassia Steamship Company Ltd., a company with a very long dry-bulk shipping history since its foundation in 1965.
Over the years, Safety Management Overseas has built a strong reputation in the dry-bulk shipping community by providing customized, high-quality management services in an efficient and risk-adverse manner. The company during the same period has supervised and taken delivery of 35 newbuildings.
Safety Management Overseas has incorporated all recent developments in the marine industry including ISM, ISPS and has established an excellent track record. One of the company's primary concerns is to improve continuously the safety and management skills of its personnel ashore and aboard ship, including preparing them for emergencies related to safety and environmental protection.
Safety Management Overseas has entered into a new management contract with Safe Bulkers Inc., a company listed in the New York Stock Exchange during its Initial Public Offering in 2008, under the symbol "SB". According to this management agreement Safety Management Overseas will provide exclusive technical, administrative and commercial services to Safe Bulkers and its subsidiaries including the supervision of sales, acquisitions and newbuild construction.