Safe Bulkers, Inc. Announces Sale of a 2006-Built Post-Panamax Class and of a 2008-Kamsarmax Class Dry-bulk Vessels
Safe Bulkers (NYSE: SB) agreed to sell two Japanese-built dry bulk vessels: MV Xenia, a 2006 Post-Panamax, for $13.0 million, and MV Pedhoulas Commander, a 2008 Kamsarmax, for $14.7 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Safe Bulkers (NYSE: SB) agreed to sell two Japanese-built dry bulk vessels: MV Xenia, a 2006 Post-Panamax, for $13.0 million, and MV Pedhoulas Commander, a 2008 Kamsarmax, for $14.7 million.
According to Safe Bulkers, these divestments support its fleet renewal strategy, complementing delivery of 13 IMO GHG Phase 3 – NOx Tier III vessels since 2022 and an orderbook of 11 additional newbuilds.
Positive
- Sale of two vessels for total gross price of approximately $27.7 million
- Divestment of oldest Kamsarmax and Post-Panamax vessels as part of fleet renewal
- Thirteen IMO GHG Phase 3 – NOx Tier III vessels delivered since 2022
- Orderbook of eleven additional newbuilds aligned with fleet age profile
Negative
- Owned fleet reduced by two dry-bulk vessels following the announced sales
Details
News Market Reaction – SB
On May 19, the first trading day after this news, SB closed 3.00% below the previous close.
Data tracked by StockTitan Argus for the May 19 session.
Key Figures
- Sale price MV Xenia
- $13.0 million
- Gross sale price for 2006 Japanese-built Post-Panamax vessel
- Sale price Pedhoulas Commander
- $14.7 million
- Gross sale price for 2008 Japanese-built Kamsarmax vessel
- New IMO GHG Phase 3 vessels
- 13 vessels
- Delivered since 2022, NOx Tier III compliant
- Current newbuild orderbook
- 11 vessels
- Additional newbuilds with delivery aligned to fleet age profile
- Newbuild acquisitions
- 4 vessels
- Three 82,000 dwt Kamsarmax and one 182,000 dwt Capesize per May 11 6-K
- Preferred dividend
- $0.50 per share
- Quarterly dividend on 8.00% Series C and D preferreds
- Series C coupon
- 8.00%
- Series C Cumulative Redeemable Perpetual Preferred Shares
- Series D coupon
- 8.00%
- Series D Cumulative Redeemable Perpetual Preferred Shares
Historical Context
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Agreements to acquire four modern Japanese newbuild dry-bulk vessels.
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Expansion of Board to eleven directors and addition of experienced members.
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Declaration of $0.50 quarterly dividends on 8.00% Series C and D preferreds.
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Filing of 2025 Annual Report on Form 20-F with the SEC.
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Participation announcement for Capital Link’s 20th Annual International Shipping Forum.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
post-panamax technical
kamsarmax technical
dry bulk technical
imo ghg phase 3 technical
nox tier iii technical
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MONACO, May 18, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine dry bulk transportation services, announced today that it has entered into agreements for the sale of two vessels: MV Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of
Dr. Loukas Barmparis, President of the Company, commented: “As part of our fleet renewal strategy, we have recently divested our oldest Kamsarmax and Post-Panamax vessels, following our continued investment in modern newbuilds. These well-timed divestments support our objective of maintaining a young, modern, fuel-efficient, and environmentally advanced fleet. Since 2022, we have taken delivery of thirteen IMO GHG Phase 3 – NOx Tier III vessels, and our current orderbook includes eleven additional newbuilds, with delivery schedules aligned to our fleet age profile.”
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C” and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, such as the COVID-19 pandemic, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for dry-bulk vessels, competitive factors in the market in which the Company operates, changes in TCE rates, changes in fuel prices, risks associated with operations outside the United States, general domestic and international political conditions, tariffs imposed as a result of trade war and trade protectionism, uncertainty in the banking sector and other related market volatility, disruption of shipping routes due to political events, risks associated with vessel construction and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertakings to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
Fax: +30 2 111 878 500
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President Capital Link, Inc.
230 Park Avenue, Suite 1536 New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com
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