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Safe Bulkers, Inc. (Symbol: SB) is a leading provider of marine drybulk transportation services. Established in 2007 and headquartered in Monaco, the company owns and operates a versatile fleet of drybulk vessels. These vessels are primarily utilized for the transportation of bulk cargoes such as coal, grain, and iron ore across international shipping routes.
As of March 2020, Safe Bulkers boasts an impressive fleet comprising 41 drybulk vessels with an average age of 9.5 years and a total carrying capacity of 3,777,000 deadweight tons. The fleet is strategically diversified into different classes, including 14 Panamax, 10 Kamsarmax, 13 Post-Panamax, and 4 Capesize vessels. This diversification allows the company to optimize its operations based on market demand and conditions.
Safe Bulkers employs a flexible chartering strategy, leveraging both period time charters and spot time charters to maximize profitability. This approach enables the company to adapt quickly to market fluctuations and secure lucrative contracts.
Financially, Safe Bulkers maintains a robust position, continuously investing in modernizing its fleet and enhancing operational efficiency. The company has established strong partnerships with major clients in the drybulk transportation industry, ensuring a steady stream of business and revenue.
Recent achievements include significant improvements in operational metrics and successful execution of strategic initiatives aimed at fleet optimization and cost management. The company's commitment to sustainable and efficient operations underpins its long-term vision for growth and success in the maritime industry.
For more updates and detailed information, please visit Safe Bulkers' official website or contact their investor relations team.
Safe Bulkers (NYSE: SB) has announced a new share repurchase program authorizing the purchase of up to 3 million shares of common stock. This represents approximately 2.8% of the company's outstanding shares and 5.4% of its public float. The program, which supersedes any previous repurchase initiatives, will be executed through open market purchases in compliance with applicable laws and regulations, including Regulation 10b-18 safe harbor provisions.
The company will fund the buyback using existing cash resources. The program is discretionary, and Safe Bulkers maintains the right to modify or terminate it at any time without prior notice.
Safe Bulkers (NYSE: SB) reported its Q4 and full-year 2024 financial results. Net revenues for Q4 2024 were $71.5M, down from $82.3M in Q4 2023. Full-year 2024 net revenues increased to $307.6M from $284.4M in 2023. The company declared a $0.05 per share dividend payable March 21, 2025.
The company's fleet consists of 46 vessels with an average age of 10.1 years. As of February 14, 2025, 39 vessels were in period time charter market and 8 in spot market. The company has an orderbook of seven IMO GHG Phase 3 - NOx Tier III Kamsarmax class newbuilds with deliveries scheduled through 2027.
The company maintains a strong capital structure with $130.2M in cash and equivalents, and $165.2M in undrawn credit facilities. Total debt was $520.2M as of February 14, 2025.
Safe Bulkers (NYSE: SB), a marine drybulk transportation services provider, has scheduled its Q4 2024 earnings release for Tuesday, February 18, 2025, after market close. The company will host a conference call and webcast to discuss financial results on Wednesday, February 19, 2025, at 9:00 A.M. Eastern Time.
Participants can join the conference call using US Toll-Free (+1 877 405 1226), International (+1 201 689 7823), or UK Toll-Free (+0 800 756 3429) numbers. The conference ID is 13751717. A live webcast and accompanying slides will be available through the company's website, with archived versions accessible afterward in the Events & Presentations section.
Safe Bulkers (NYSE: SB) has announced quarterly dividend declarations for its preferred shares. The company's Board of Directors declared a $0.50 per share cash dividend for both its 8.00% Series C (NYSE: SB.PR.C) and Series D (NYSE: SB.PR.D) Cumulative Redeemable Perpetual Preferred Shares.
The dividends cover the period from October 30, 2024, to January 29, 2025, and will be paid on January 30, 2025. Shareholders of record as of January 17, 2025, will be eligible for the payment. These preferred share dividends are typically paid quarterly on January 30, April 30, July 30, and October 30, subject to business day adjustments.
The company notes that future dividend declarations remain subject to Board discretion and will depend on various factors including earnings, financial condition, cash requirements, financing terms, and global economic conditions.
Safe Bulkers (NYSE: SB) has announced a new share repurchase program authorizing the purchase of up to 5 million shares of common stock. This represents approximately 4.7% of the company's outstanding shares and 8.7% of its public float. The program will be conducted in the open market under Regulation 10b-18 safe harbor provisions and funded through existing cash resources. The company maintains flexibility as the program can be modified or terminated at any time and does not obligate the company to purchase shares. This new program supersedes any previous repurchase initiatives.
Safe Bulkers (NYSE: SB) reported Q3 2024 financial results with net revenues of $75.9 million and net income of $25.1 million. The company declared a cash dividend of $0.05 per share on common stock. The fleet consists of 46 vessels with an average age of 9.8 years. Time charter equivalent rate was $17,108 in Q3 2024, compared to $14,861 in Q3 2023. The company has contracted revenue of approximately $232.7 million and maintains a newbuild program of seven vessels with scheduled deliveries through 2027.
Safe Bulkers (NYSE: SB), an international marine drybulk transportation service provider, will release its Q3 2024 financial results after market close on November 13, 2024. The company's management will host a conference call and webcast on November 14, 2024, at 9:00 A.M. Eastern Time to discuss the results. Participants can join the call using toll-free or standard international dial-in numbers, or via the 'call me' option for a quicker connection. The webcast, along with accompanying slides, will be available live and later archived on the company's website.
Safe Bulkers, Inc. (NYSE: SB), an international marine drybulk transportation services provider, has announced quarterly dividend declarations for its preferred shares. The company's Board of Directors has declared:
- A $0.50 per share cash dividend on 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares
- A $0.50 per share cash dividend on 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares
Both dividends cover the period from July 30, 2024, to October 29, 2024, and will be paid on October 30, 2024, to shareholders of record as of October 18, 2024. Dividends on these preferred shares are typically paid quarterly, subject to the Board's discretion and various financial factors.
Safe Bulkers, Inc. (NYSE: SB), an international marine drybulk transportation services provider, held its 2024 Annual Meeting of Stockholders in Monaco. The meeting resulted in the election of three Class I directors: Polys Hajioannou, Ioannis Foteinos, and Ole Wikborg. These directors will serve until the 2027 annual meeting. Additionally, stockholders ratified the appointment of Deloitte, Certified Public Accountants S.A. as the company's independent auditors for the fiscal year ending December 31, 2024. This routine corporate governance event ensures continuity in the company's leadership and financial oversight.
Safe Bulkers (NYSE: SB) reported its unaudited Q2 2024 financial results, revealing an 11% increase in net revenues to $78.5 million compared to Q2 2023. The company achieved a net income of $27.6 million, up from $15.4 million in the same period last year. EBITDA for Q2 2024 was $49.2 million, a significant rise from $34.4 million in Q2 2023. The Time Charter Equivalent (TCE) rate was $18,650 per day, up from $17,271 in Q2 2023. Safe Bulkers also declared a cash dividend of $0.05 per share, payable on September 5, 2024. Q2 2024's improved performance reflects stronger market conditions, higher revenues from Scrubber-fitted vessels, and increased average number of vessels.
As of June 30, 2024, the company had $81.6 million in cash and $179.5 million in undrawn credit facilities. The company continues its fleet renewal strategy, ordering two new Phase 3 vessels and selling older ones. It also implemented a new Integrated Management System in compliance with DryBMS standards.
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