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.
Safe Bulkers, Inc. (NYSE: SB) has declared a cash dividend of $0.50 per share on its 8.00% Series C and Series D Preferred Shares for the period from January 30, 2023, to April 29, 2023. The dividends will be paid on May 1, 2023, to shareholders of record as of April 20, 2023. These preferred shares are set to pay dividends quarterly on the 30th of January, April, July, and October, subject to the discretion of the Board of Directors. Future dividends depend on the Company's earnings, financial condition, and cash requirements, as well as compliance with laws and debt covenants.
Safe Bulkers owns 44 vessels, including eco-ships, and has an orderbook for nine additional newbuild vessels.
Safe Bulkers has authorized a new stock repurchase program allowing the purchase of up to 5,000,000 shares of common stock, representing approximately 4.3% of outstanding shares. The buyback program will utilize existing cash resources and will be conducted in compliance with relevant regulations. This initiative continues a prior program launched in June 2022. The company provides marine drybulk transportation services, focusing on coal, grain, and iron ore. The announcement reflects a strategic effort to enhance shareholder value through stock buybacks.
On March 15, 2023, Safe Bulkers (NYSE: SB) expanded its Board of Directors from seven to nine members, electing Kristin H. Holth and Marina Hajioannou. Holth, previously a senior executive at DNB Bank, brings significant capital markets experience and will serve on the Corporate Governance, Nominating and Compensation Committee and the Audit Committee. Hajioannou is involved in chartering and operations at Safe Bulkers. This change is expected to enhance governance and operational insights as the company aims for growth through vessel acquisitions and charters, amid market uncertainties.
Safe Bulkers announced an agreement to sell its Kamsarmax MV Efrossini vessel, a 2012-built Panamax dry-bulk ship, for $22.5 million. Delivery is expected by June 2023, post which the company will charter the vessel back at a rate of $16,050 per day for 10 to 14 months. This move aligns with the company's strategy to replace older vessels with new builds that meet environmental regulations. Currently, Safe Bulkers operates a fleet of 44 vessels, including 12 eco-ships, and has ordered nine newbuilds compliant with IMO GHG Phase 3 standards.
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