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) reported a net loss of $9.9 million for Q1 2020, a sharp decline from a net income of $5.4 million in Q1 2019. The company's net revenues decreased by 5% to $45.7 million, primarily due to COVID-19 disruptions. Vessel operating expenses rose 16% to $17.8 million, influenced by dry-docking and maintenance costs. As of March 31, 2020, total liquidity was $145.7 million, while total debt reached $610.1 million. The company has maintained its operations amidst pandemic challenges and has undertaken measures to protect its personnel and ensure vessel uptime.
Safe Bulkers, Inc. (NYSE: SB) will release its financial results for the quarter ending March 31, 2020, on June 8, 2020, before the market opens. A conference call to discuss these results is set for June 9, 2020, at 10:00 A.M. Eastern Time. Participants can join by dialing specific toll-free numbers. The results will be available on the company’s website after the call. Safe Bulkers is a provider of marine drybulk transportation services, focusing on coal, grain, and iron ore.