Safe Bulkers, Inc Cumulative Re - SB-PC STOCK NEWS

Safe Bulkers has announced the sale of the MV Pedhoulas Fighter, a Kamsarmax class dry-bulk vessel, for $23.7 million, expected to deliver in Q4 2021. This sale culminates in the disposal of three sister vessels, part of the strategy to renew its fleet. The company has also sold a total of seven vessels, acquired four second-hand ones, and ordered eight new Japanese-built vessels, with deliveries set from Q2 2022 to Q1 2024, indicating a commitment to enhancing fleet efficiency.

Safe Bulkers, Inc. (NYSE: SB) held its annual stockholders' meeting on September 14, 2021, in Athens, where three Class I directors, Polys Hajioannou, Ioannis Foteinos, and Ole Wikborg, were elected for a term ending in 2024. Additionally, stockholders ratified Deloitte as the independent auditors for the fiscal year ending December 31, 2021. The company is a global provider of marine drybulk transportation services, focusing on shipping bulk cargoes like coal and grain.

Safe Bulkers, Inc. (NYSE: SB) has entered a 12-month bareboat charter agreement for a 2012 Japanese-built Capesize vessel, committing a total of $9 million in payments and an option to purchase for $18 million upon charters' conclusion. This acquisition is part of their fleet renewal strategy, alongside three recently contracted second-hand vessels. The company has sold six vessels and has eight newbuilds on order. Dr. Loukas Barmparis emphasizes selective acquisitions as key to their strategy.

Safe Bulkers (NYSE: SB) reported strong financial results for Q2 2021, with net revenues up 69% to $81.6 million, compared to $48.3 million in Q2 2020. Net income reached $32.4 million, a significant recovery from a loss of $13.9 million in the same quarter last year. Adjusted EBITDA surged to $254.1 million. The company also improved its time charter equivalent rate to $21,098, reflecting enhanced market conditions. Despite a $1.1 million negative impact from COVID-19, Safe Bulkers continues to focus on fleet renewal and debt reduction, highlighting a solid liquidity position with $127.4 million in cash as of June 30, 2021.

Safe Bulkers, Inc. (NYSE: SB) will release its Q2 2021 financial results on July 28, 2021, after market close. A conference call is scheduled for July 29, 2021, at 9:30 A.M. ET to discuss these results. Participants can dial in using specific numbers provided for US, UK, and international callers. The company offers marine drybulk transportation services, primarily for coal, grain, and iron ore. Forward-looking statements regarding growth strategies highlight potential risks and uncertainties that could impact future performance.

Safe Bulkers, Inc. (NYSE: SB) announced the acquisition of three Japanese drybulk Kamsarmax vessels as part of its fleet renewal strategy. Scheduled for delivery between Q4 2023 and Q1 2024, these vessels comply with GHG-EEDI Phase 3 and NOx-Tier III emissions regulations. This expands the company's newbuild fleet to eight vessels, enhancing its competition in marine drybulk transportation. The initiative is funded by the company's cash reserves, reflecting a strategic move to replace older vessels for improved operational efficiency.

Safe Bulkers, Inc. (NYSE: SB) has announced a cash dividend of $0.50 per share on its 8.00% Series C Preferred Shares and 8.00% Series D Preferred Shares, for the period from April 30, 2021, to July 29, 2021. The dividends will be paid on July 30, 2021, to shareholders of record as of July 23, 2021. Dividends on these preferred shares are payable quarterly. The payment of dividends is subject to the Board’s discretion, based on the Company’s earnings and financial condition.