Safe Bulkers, Inc Perpetual Pre Stock Price, News & Analysis

Safe Bulkers, Inc. (NYSE: SB) has submitted its 2020 Annual Report on Form 20-F to the U.S. Securities and Exchange Commission. Investors can access this report via the company’s website or request a hard copy at no charge. Safe Bulkers operates in marine drybulk transportation, focusing on bulk cargoes such as coal, grain, and iron ore. Their stock is traded under the symbols SB, SB-PC, and SB-PD. The report outlines the company's operations and future growth strategies, alongside a disclaimer on forward-looking statements, highlighting potential risks and uncertainties.

Safe Bulkers, Inc. (NYSE: SB) reported its unaudited financial results for Q4 2020, showcasing net revenues of $52.2 million, slightly down from $53.2 million in Q4 2019. The company achieved a net income of $7.6 million, a significant recovery compared to a loss of $13.9 million in Q2 2020. Adjusted EBITDA reached $226.3 million. Despite challenges from the COVID-19 pandemic affecting charter rates and operational costs, Safe Bulkers remains committed to fleet renewal. The company has liquidity of $184.3 million and is positioned to leverage a strengthening charter market.

Safe Bulkers, Inc. (NYSE: SB) announces an upcoming earnings release on February 15, 2021, after market closure, reporting results for Q4 2020. A conference call is scheduled for February 16, 2021, at 9:30 A.M. ET, where management will discuss the financial results. Participants can join via dial-in or through a live webcast on the company's website. Safe Bulkers is an international provider of marine drybulk transportation services, focusing on transporting bulk cargoes like coal, grain, and iron ore.

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.

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.

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.

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.

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.

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.