Safe Bulkers, Inc. provides international marine drybulk transportation services, carrying bulk cargoes such as coal, grain and iron ore along worldwide shipping routes. News about SB centers on charter-driven financial results, time-charter equivalent rates, vessel operating expenses, common-stock dividends and quarterly dividends on its 8.00% Series C and Series D cumulative redeemable perpetual preferred shares.
Company updates also cover fleet renewal through dry-bulk vessel acquisitions and sales, including Capesize and Kamsarmax classes; capital actions such as share repurchase authorizations; annual Form 20-F reporting; shipping-industry conference participation; and governance changes involving board composition and committee assignments.
Safe Bulkers, Inc. (NYSE: SB) announced its fourth-quarter and full-year 2021 earnings release set for March 9, 2022, after market close. A conference call is scheduled for March 10, 2022, at 9:00 A.M. Eastern Time, to discuss financial results. Interested participants can join the call via various numbers provided by the company. Safe Bulkers specializes in marine drybulk transportation, focusing on commodities such as coal, grain, and iron ore.
Safe Bulkers Inc. (NYSE: SB) announced its evaluation of biofuels as alternative fuels to reduce its carbon footprint. A pilot project on M/V Troodos Oak successfully tested a 20% blend of biofuel, achieving a 13.54% reduction in CO2 emissions compared to conventional Very Low Sulphur Fuel Oil (VLSFO). The trial confirmed no need for modifications to the ship’s equipment. The company will expand this initiative in collaboration with Cargill to explore higher biofuel blends and nitrogen oxide emissions' impact, emphasizing its commitment to environmental sustainability.
Safe Bulkers Inc. announced that its subsidiary, Safe Bulkers Participations Plc, has priced an offering of €100 million in unsecured bonds with a 2.95% coupon, maturing in 2027. The bonds are guaranteed by the company and will begin trading on the Athens Exchange on February 14, 2022, under the ticker SBB1. Proceeds will be used for vessel acquisitions, preferred share redemptions, and debt repayments. This issuance marks a milestone for the company as the first dry bulk shipping bond on the ATHEX, enhancing its capital structure.
Safe Bulkers Inc. (NYSE: SB) announced plans for a public offer in Greece for up to €100 million in unsecured bonds through its subsidiary, Safe Bulkers Participations Plc. The offering aims to raise around €97.5 million to repay debt, redeem preferred shares, fund working capital, or acquire vessels. The bonds will only be offered to non-U.S. persons and won't be registered under the Securities Act. This action reflects the company's strategy to optimize its financial structure and bolster growth opportunities.
Safe Bulkers, Inc. (NYSE: SB) has announced the acquisition of the MV Maria, a Capesize vessel built in 2014, for $33.8 million. The delivery is scheduled for February 2022 and will be financed from the company’s cash reserves. This vessel is the company's sixth Capesize addition and will enhance its fleet to a total of 40 vessels. The purchase capitalizes on seasonal market weaknesses, according to President Dr. Loukas Barmparis, highlighting a competitive acquisition strategy.
Safe Bulkers, Inc. (NYSE: SB) announced its participation in Capital Link’s Corporate Presentations Webinar Series. The presentation will take place on January 18th, 2022 at 10am ET, where senior management will discuss the company's operations and outlook for the dry bulk sector. Interested participants can register for the webinar via a provided link. A live Q&A session will follow, allowing attendees to submit questions. The company focuses on marine drybulk transportation, with stocks trading under SB, SB-PC, and SB-PD.
Safe Bulkers, Inc. (NYSE: SB) announced a cash dividend of $0.50 per share for both its 8.00% Series C and Series D Cumulative Redeemable Perpetual Preferred Shares for the period from October 30, 2021, to January 29, 2022. These dividends will be paid on January 31, 2022, to shareholders on record as of January 20, 2022. Future dividends are subject to the company's earnings and financial condition. Safe Bulkers provides marine drybulk transportation services globally, focusing on coal, grain, and iron ore transportation.
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Safe Bulkers, Inc. (NYSE: SB) has announced the acquisition of a Japanese dry-bulk Kamsarmax vessel, with a delivery scheduled for the fourth quarter of 2023. This vessel will comply with stringent Energy Efficiency Design Index standards and NOx emissions regulations, with financing sourced from the company's cash reserves. The firm now has an order book of nine newbuilds, including three Post-panamax and six Kamsarmax vessels, bolstering its fleet and operational capabilities.
Safe Bulkers, an international marine drybulk provider, reported strong financial results for Q3 2021, with net revenues of $92.5 million—a 78% increase from Q3 2020. Net income rose to $55.4 million, up from $3.3 million year-on-year. Adjusted EBITDA was $67.7 million, reflecting improved market conditions and operational efficiency. However, the impact of COVID-19 resulted in approximately $0.9 million in additional crew costs. The company also successfully executed its ATM Program, raising $10 million in Q3 through share sales.