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. (NYSE: SB) is an international marine dry-bulk carrier that transports bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. Its news flow, as reflected in company press releases furnished on Form 6‑K, covers operational performance, fleet developments, financing activities and shareholder distributions.
Investors following SB news will see regular updates on unaudited quarterly financial results, including time charter equivalent rates, daily vessel operating expenses, EBITDA and Adjusted EBITDA, as well as commentary from management on dry-bulk market conditions. The company also reports on dividends declared on its common stock and on its 8.00% Series C and 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, with details on record dates, payment dates and the Board’s dividend policy considerations.
Safe Bulkers’ news releases highlight its fleet renewal and environmental initiatives, such as sales of older Kamsarmax class vessels, deliveries of IMO GHG Phase 3 - NOx Tier III newbuilds, and the progress of its environmental upgrade program targeting improved energy efficiency and lower fuel consumption. Announcements also address new credit facilities, including sustainability-linked revolving credit facilities tied to fleet carbon intensity performance, and information on total cash, undrawn borrowing capacity and debt repayment schedules.
Additional SB news items include the authorization of common stock repurchase programs, results of annual meetings of stockholders, and participation in industry conferences. For market participants, the Safe Bulkers news page provides a centralized view of these disclosures, helping them track how the company manages its fleet, capital structure, environmental compliance and shareholder returns over time.
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Safe Bulkers, Inc. (NYSE: SB) has declared a cash dividend of $0.50 per share on its 8.00% Series C and Series D Preferred Shares for the period from January 30, 2023, to April 29, 2023. The dividends will be paid on May 1, 2023, to shareholders of record as of April 20, 2023. These preferred shares are set to pay dividends quarterly on the 30th of January, April, July, and October, subject to the discretion of the Board of Directors. Future dividends depend on the Company's earnings, financial condition, and cash requirements, as well as compliance with laws and debt covenants.
Safe Bulkers owns 44 vessels, including eco-ships, and has an orderbook for nine additional newbuild vessels.
Safe Bulkers has authorized a new stock repurchase program allowing the purchase of up to 5,000,000 shares of common stock, representing approximately 4.3% of outstanding shares. The buyback program will utilize existing cash resources and will be conducted in compliance with relevant regulations. This initiative continues a prior program launched in June 2022. The company provides marine drybulk transportation services, focusing on coal, grain, and iron ore. The announcement reflects a strategic effort to enhance shareholder value through stock buybacks.
On March 15, 2023, Safe Bulkers (NYSE: SB) expanded its Board of Directors from seven to nine members, electing Kristin H. Holth and Marina Hajioannou. Holth, previously a senior executive at DNB Bank, brings significant capital markets experience and will serve on the Corporate Governance, Nominating and Compensation Committee and the Audit Committee. Hajioannou is involved in chartering and operations at Safe Bulkers. This change is expected to enhance governance and operational insights as the company aims for growth through vessel acquisitions and charters, amid market uncertainties.
Safe Bulkers announced an agreement to sell its Kamsarmax MV Efrossini vessel, a 2012-built Panamax dry-bulk ship, for $22.5 million. Delivery is expected by June 2023, post which the company will charter the vessel back at a rate of $16,050 per day for 10 to 14 months. This move aligns with the company's strategy to replace older vessels with new builds that meet environmental regulations. Currently, Safe Bulkers operates a fleet of 44 vessels, including 12 eco-ships, and has ordered nine newbuilds compliant with IMO GHG Phase 3 standards.
Safe Bulkers, Inc. (NYSE: SB) filed its 2022 Annual Report on Form 20-F with the SEC on March 6, 2023. The report details the company's operations in marine drybulk transportation, focusing on the movement of coal, grain, and iron ore. Shareholders can access the report through the company's website or request a hard copy from Capital Link. Safe Bulkers provides essential services to major bulk cargo users worldwide, with its common stock and preferred shares trading under symbols SB, SB.PR.C, and SB.PR.D, respectively. The report includes forward-looking statements regarding the company's growth strategy and future vessel acquisitions.
Safe Bulkers, Inc. (NYSE: SB) announced the acquisition of a Japanese Kamsarmax class dry-bulk vessel for an attractive price, scheduled for delivery in Q2 2025. This vessel will meet the IMO's Phase 3 Energy Efficiency Design Index requirements and NOx emissions regulations. With this addition, the company's orderbook now includes nine newbuild vessels scheduled for delivery, enhancing its fleet of eco-ships designed for lower fuel consumption and reduced greenhouse gas emissions. The company currently operates 44 vessels, including 12 eco-ships.