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. 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) 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.
Safe Bulkers, Inc. (NYSE: SB) announced it will release its financial results for Q3 2021 on November 3, 2021, after market close. A conference call to discuss these results is scheduled for November 4, 2021, at 9:30 A.M. ET. Participants can join via specific dial-in numbers or by accessing the live webcast on the company’s website. Safe Bulkers provides marine drybulk transportation services, transporting bulk cargoes like coal, grain, and iron ore. Its stock is listed under the symbols SB, SB.PR.C, and SB.PR.D.
Safe Bulkers, Inc. (NYSE: SB) has declared a cash dividend of $0.50 per share on its 8.00% Series C and 8.00% Series D Preferred Shares (NYSE: SB.PR.C, SB.PR.D) for the period running from July 30, 2021 to October 29, 2021. The dividends will be paid on November 1, 2021 to shareholders recorded by October 22, 2021. These dividends support the company's commitment to providing returns to its shareholders while remaining contingent on its financial performance and market conditions.
Safe Bulkers (NYSE: SB) announced a new long-term charter for its Capesize vessel, MV Lake Despina, effective from January to May 2022. The charter lasts for three years at a daily rate of $22,500, with an upfront payment of $3.0 million upon commencement. The vessel will earn a charter linked to the Baltic Exchange Capesize Index until January. This agreement is expected to generate approximately $27.5 million in gross revenue over the minimum term. The charter also includes an extension option at a higher rate, enhancing future cash flow visibility.
Safe Bulkers, Inc. (NYSE: SB) announced a new three-year time charter for its recently acquired Capesize vessel, MV Stelios Y, at a gross daily rate of $24,400. The charter is expected to start in November 2021 and could generate approximately $26.7 million in gross revenue over the minimum period. The vessel’s acquisition cost is $32.3 million, with a residual steel value of $14.5 million. Dr. Loukas Barmparis emphasized that the charter enhances cash flow visibility, aligning revenue with the investment cost.
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Safe Bulkers has announced the sale of the MV Pedhoulas Fighter, a Kamsarmax class dry-bulk vessel, for $23.7 million, expected to deliver in Q4 2021. This sale culminates in the disposal of three sister vessels, part of the strategy to renew its fleet. The company has also sold a total of seven vessels, acquired four second-hand ones, and ordered eight new Japanese-built vessels, with deliveries set from Q2 2022 to Q1 2024, indicating a commitment to enhancing fleet efficiency.
Safe Bulkers, Inc. (NYSE: SB) held its annual stockholders' meeting on September 14, 2021, in Athens, where three Class I directors, Polys Hajioannou, Ioannis Foteinos, and Ole Wikborg, were elected for a term ending in 2024. Additionally, stockholders ratified Deloitte as the independent auditors for the fiscal year ending December 31, 2021. The company is a global provider of marine drybulk transportation services, focusing on shipping bulk cargoes like coal and grain.