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Safe Bulkers, Inc. - SB STOCK NEWS

Welcome to our dedicated page for Safe Bulkers news (Ticker: SB), a resource for investors and traders seeking the latest updates and insights on Safe Bulkers stock.

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.

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Safe Bulkers, Inc. (NYSE: SB) has joined the Neptune Declaration on Seafarer Wellbeing to tackle crew change challenges exacerbated by the pandemic. The declaration focuses on four main objectives: recognizing seafarers as key workers for priority COVID-19 vaccinations, implementing high-standard health protocols, enhancing collaboration for crew changes, and ensuring airline connectivity between maritime hubs. Dr. Loukas Barmparis, President, emphasized the company's commitment to the welfare of its seafarers and the maritime supply chain.

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Safe Bulkers, Inc. (NYSE: SB) declared a cash dividend of $0.50 per share on its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares for the period from October 30, 2020 to January 29, 2021. Payment will be made on February 1, 2021 to shareholders of record as of January 22, 2021. Dividends are payable quarterly, and future payments are dependent on the Company's earnings, financial condition, and market conditions. The Company provides drybulk transportation services globally, primarily for major bulk cargo users.

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Safe Bulkers, Inc. (NYSE: SB) announced the acquisition of a Japanese-built Post-Panamax dry-bulk vessel for $51.8 million, scheduled for delivery in Q3 2022. This newbuild complies with the latest environmental regulations, including Energy Efficiency Design Index and NOx emissions standards. The company has secured a new term loan facility for 60% of the acquisition cost and increased its revolving credit commitment from $20 million to $30 million. Safe Bulkers maintains strong liquidity of $167.5 million, ensuring financial flexibility for this strategic investment.

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Safe Bulkers announced its Q3 2020 financial results, reporting net revenues of $51.9 million, a 2% increase from Q3 2019. However, net income fell to $3.3 million, down from $5.2 million in the previous year. The company's average daily Time Charter Equivalent (TCE) rate decreased to $12,575 from $13,311. COVID-19 negatively impacted operations, increasing voyage and vessel operating expenses. Liquidity improved to $136 million by November 6, 2020. The company plans to renew its fleet with modern vessels while maintaining a cautious approach due to market uncertainties.

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Safe Bulkers, Inc. (NYSE: SB) will release its financial results for Q3 2020 on November 11, 2020, after market closure. The management team will host a conference call to discuss these results on November 12, 2020, at 9:30 A.M. ET. Participants can call in to join the discussion using specified numbers. A telephonic replay will be available until November 19, 2020, along with a webcast of the conference call hosted on the Company’s website. Safe Bulkers provides marine drybulk transportation services, particularly for coal, grain, and iron ore.

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Safe Bulkers, Inc. (NYSE: SB) announced an agreement to acquire a Japanese-built Kamsarmax class vessel for $82 million, scheduled for delivery in H1 2022. The acquisition is financed through a ten-year bareboat charter, providing 90% funding with a purchase obligation at a predetermined price. This new vessel complies with latest GHG and NOx emissions regulations, enhancing the fleet's environmental performance. The company's liquidity remains strong, exceeding $100 million, and it does not plan to utilize its at-the-market equity offering.

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Safe Bulkers, Inc. (NYSE: SB) announced a cash dividend of $0.50 per share on its Series C and Series D Preferred Shares for the period from July 30, 2020 to October 29, 2020. The dividends will be paid on October 30, 2020 to shareholders of record as of October 22, 2020. These dividends reflect the company’s continued ability to provide returns to shareholders, subject to the Board's discretion based on the company’s financial condition and cash availability.

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Safe Bulkers, Inc. (NYSE: SB) has filed a prospectus supplement with the SEC to offer shares worth up to $23,500,000 through an at-the-market (ATM) equity program. Proceeds will be utilized for general corporate purposes, including debt repayment and potential vessel acquisitions. Sales will be made via DNB Markets, Inc. on NYSE, at current market prices. The prospectus is accessible on the SEC's website. Safe Bulkers is a provider of marine drybulk transportation services, specializing in coal, grain, and iron ore transportation.

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Safe Bulkers announced a new shareholders rights plan to replace the expired one, addressing uncertainties from the COVID-19 pandemic and market cyclicality. This Rights Plan, applicable to shareholders on record as of August 17, 2020, aims to ensure fair treatment of all shareholders and provides the Board time for informed decision-making. Each share will receive one right, exercisable if a party acquires 10% or more of stock. The Rights Plan lasts until August 5, 2030, with the Board retaining the ability to terminate it if deemed unnecessary.

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Safe Bulkers, Inc. (NYSE: SB) reported Q2 2020 financial results, revealing a net loss of $13.9 million, contrasted with a net income of $1.8 million in Q2 2019. Net revenues increased by 6% to $48.3 million, bolstered by scrubber-fitted vessels. The company faced challenges from reduced charter rates amid COVID-19, with average daily Time Charter Equivalent (TCE) dropping to $8,094. Liquidity stood at $119.8 million. In a proactive move, Safe Bulkers secured six new five-year charters at premium rates for the initial years, enhancing future cash flow.

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FAQ

What is the current stock price of Safe Bulkers (SB)?

The current stock price of Safe Bulkers (SB) is $3.51 as of December 20, 2024.

What is the market cap of Safe Bulkers (SB)?

The market cap of Safe Bulkers (SB) is approximately 370.5M.

What does Safe Bulkers, Inc. do?

Safe Bulkers, Inc. provides marine drybulk transportation services, primarily transporting coal, grain, and iron ore.

Where is Safe Bulkers, Inc. based?

Safe Bulkers, Inc. is headquartered in Monaco.

How many vessels does Safe Bulkers, Inc. operate?

As of March 2020, Safe Bulkers operates 41 drybulk vessels.

What is the total carrying capacity of Safe Bulkers' fleet?

The total carrying capacity of Safe Bulkers' fleet is 3,777,000 deadweight tons.

What types of vessels are in Safe Bulkers' fleet?

Safe Bulkers' fleet includes 14 Panamax, 10 Kamsarmax, 13 Post-Panamax, and 4 Capesize vessels.

How does Safe Bulkers, Inc. charter its vessels?

Safe Bulkers charters its vessels using both period time charters and spot time charters based on market conditions.

When was Safe Bulkers, Inc. founded?

Safe Bulkers, Inc. was founded in 2007.

What is the average age of Safe Bulkers' vessels?

The average age of Safe Bulkers' vessels is 9.5 years.

Who are the main clients of Safe Bulkers, Inc.?

Safe Bulkers has strong partnerships with major clients in the drybulk transportation industry.

How can I get more information about Safe Bulkers, Inc.?

For more information, you can visit Safe Bulkers' official website or contact their investor relations team.

Safe Bulkers, Inc.

NYSE:SB

SB Rankings

SB Stock Data

370.52M
58.40M
45.31%
28.56%
1.66%
Marine Shipping
Industrials
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United States of America
Monaco