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Safe Bulkers, Inc. (SB-PD) is a prominent player in the dry bulk shipping industry, known for its fleet of modern vessels that transport bulk cargoes worldwide.
The company focuses on transporting bulk commodities, such as coal, grain, and iron ore, with a commitment to safety, efficiency, and environmental responsibility.
Safe Bulkers has a strong track record of delivering reliable and cost-effective shipping solutions to its global customer base, with a focus on operational excellence and customer satisfaction.
The company's financial performance, strategic partnerships, and commitment to sustainable practices position it as a key player in the maritime industry.
Safe Bulkers, Inc. (NYSE: SB) has announced the sale of the MV Pedhoulas Trader, a 2006 Japanese-built Kamsarmax class dry-bulk vessel, for a net price of $15.84 million, with delivery scheduled for December 2022. President Dr. Loukas Barmparis stated that this sale is part of the company's strategy to upgrade its fleet to comply with new environmental regulations while enhancing competitiveness. The company focuses on transporting bulk cargoes globally and is adapting to the challenges of a stringent regulatory environment.
Safe Bulkers, Inc. (NYSE: SB) has released its September 2022 corporate presentation, accessible on its website. Dr. Loukas Barmparis, the Company's President, will be a panelist at a dry bulk shipping sector forum on September 21, 2022, in New York City, organized with DNB and Nasdaq. Safe Bulkers is a global provider of marine drybulk transportation, focused on coal, grain, and iron ore. Their common and preferred stocks trade under SB, SB-PC, and SB-PD.
Safe Bulkers reported strong financial results for Q2 2022, with net income of $50.3 million, up from $32.4 million in Q2 2021. Net revenues grew 12% year-over-year to $91.6 million. The company declared a cash dividend of $0.05 per share, payable on September 1, 2022. As of June 30, 2022, total cash was $139.4 million and total debt was $432.6 million. The fleet comprises 42 vessels, including new environmentally friendly builds aimed at reducing emissions. Despite operational challenges due to COVID-19 and geopolitical conflicts, Safe Bulkers maintains a robust balance sheet and liquidity position.
Safe Bulkers, Inc. has announced that it will release its financial results for the second quarter ending June 30, 2022, after market close on July 27, 2022. A conference call is scheduled for July 28, 2022, at 12:00 P.M. Eastern Time, where management will discuss the results. Participants can register for the call via a provided link. Safe Bulkers provides marine drybulk transportation services globally, specializing in transporting cargoes like coal, grain, and iron ore. The company's stocks trade under symbols SB, SB-PC, and SB-PD.
Safe Bulkers announced an annual stockholders' meeting to be held on September 26, 2022, at the Fairmont Hotel in Monaco. Stockholders of record as of August 1, 2022, can vote at the meeting. The company provides marine drybulk transportation services, mainly transporting coal, grain, and iron ore worldwide. Safe Bulkers, trading under symbols SB, SB-PC, and SB-PD, will send formal notice and proxy statements to its stockholders.
On July 5, 2022, Safe Bulkers, Inc. (NYSE: SB) declared a cash dividend of $0.50 per share for its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares. This dividend applies to the period from April 30, 2022, to July 29, 2022, and will be paid on August 1, 2022 to shareholders of record as of July 22, 2022. Future dividends will depend on various factors including the company's financial condition and strategic decisions.
Safe Bulkers, Inc. (NYSE: SB) has authorized a stock buyback program allowing for the purchase of up to 5,000,000 shares of its common stock, equating to approximately 4.1% of outstanding shares. The program underscores the company's commitment to enhancing shareholder value. Although purchases are permitted, the company is not obligated to buy back shares and can modify or terminate the program at any time. Funding for the buyback will come from existing cash resources, indicating financial stability amidst ongoing market fluctuations.
Safe Bulkers, Inc. (NYSE: SB) has announced the acquisition of two Kamsarmax class vessels from a Chinese shipyard, scheduled for delivery in August 2024 and January 2025. This addition supports the company’s fleet renewal strategy, emphasizing energy efficiency by meeting strict emissions regulations. The company now has a total of 10 newbuild vessels on order, including three Post-panamax and seven Kamsarmax vessels, with a delivery schedule extending through 2025.
Safe Bulkers, Inc. announced an agreement to acquire the MV Aghia Sofia, a 2012-built Capesize class vessel, for $31.75 million. The delivery is set for August 2022 following necessary upgrades, including ballast water treatment installation. This acquisition aims to expand their Capesize fleet to eight vessels, enhancing revenue and profitability. The purchase will be financed from the company’s cash reserves. Safe Bulkers provides marine drybulk transportation services, specializing in cargoes like coal, grain, and iron ore, and trades under the symbols SB, SB-PC, and SB-PD.
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