Safe Bulkers, Inc. Announces the Implementation of Integrated Management System in Compliance with DryBMS Standards
Safe Bulkers (NYSE: SB) announced the voluntary implementation of a new computerized Integrated Management System (IMS) starting June 1st, 2024. This IMS complies with DryBMS Standards and replaces the existing Safety Management System (SMS). The new system aligns with Rightship RISQ3 and the SSI Code of Conduct, emphasizing crew welfare and high standards for staff and fleet. Dr. Loukas Barmparis, President of Safe Bulkers, highlighted that the IMS enhances safety, health, security, and pollution prevention, surpassing international legislation and industry practices, allowing close collaboration with charterers to elevate industry standards.
- Implementation of IMS starting June 1st, 2024.
- IMS complies with DryBMS Standards and Rightship RISQ3.
- Focus on crew welfare and high standards for staff and fleet.
- Enhances safety, health, security, and pollution prevention.
- Aligns with SSI Code of Conduct.
- Facilitates collaboration with charterers to raise industry standards.
- Goes beyond compliance with international legislation and industry practices.
- Possible initial costs and implementation challenges with the new IMS.
- Potential short-term disruptions during the transition from SMS to IMS.
- Uncertainty in the immediate measurable impact on operational efficiency.
MONACO, May 31, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that from June 1st, it is voluntary implementing a new computerized Integrated Management System (‘IMS’) in compliance with DryBMS Standards. The new IMS replaces the existing Safety Management System (‘SMS’), is in line with Rightship RISQ3, focusing on Crew Welfare and SSI Code of Conduct, and ensuring the competence and commitment to the highest level of standards of our staff and fleet.
Dr. Loukas Barmparis, President of the Company commented: “Our IMS facilitates higher levels of performance in terms of safety, health, security and pollution prevention for our fleet, going beyond compliance with international legislation, recognized guidelines and common practices across the industry, providing us with the opportunity to work closely together with our charterers in raising industry standards.”
About Safe Bulkers, Inc.
The Company is an international provider of marine dry-bulk transportation services, transporting bulk cargoes, particularly grain, coal and iron ore, along worldwide shipping routes for some of the world’s largest users of marine dry-bulk transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the market in which the Company operates, risks associated with operations outside the United States and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
Fax: +30 2 111 878 500
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President Capital Link, Inc.
230 Park Avenue, Suite 1536 New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com
FAQ
What new system is Safe Bulkers implementing starting June 1, 2024?
What existing system is the new IMS replacing at Safe Bulkers?
What standards does the new IMS comply with?
What are the key benefits of the new IMS for Safe Bulkers?
Who commented on the new IMS implementation at Safe Bulkers?
How does the IMS affect Safe Bulkers' compliance with international legislation?
