Safe Bulkers, Inc. Announces Sale of a 2012-Built Capesize Class Dry-bulk Vessel
Safe Bulkers (NYSE: SB) announced the sale agreement of the MV Michalis H, a 2012 Chinese-built Capesize dry-bulk vessel, for a gross sale price of $35.2 million.
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Rhea-AI Summary
Safe Bulkers (NYSE: SB) announced the sale agreement of the MV Michalis H, a 2012 Chinese-built Capesize dry-bulk vessel, for a gross sale price of $35.2 million. Delivery is scheduled forward within Q1 2026. The company noted an orderbook of eight vessels through 2029.
Details
News Market Reaction – SB
On Feb 17, the first trading day after this news, SB closed 1.00% above the previous close.
Data tracked by StockTitan Argus for the Feb 17 session.
Key Figures
- Vessel sale price
- $35.2 million
- Sale of 2012-built Capesize MV Michalis H
- Vessel build year
- 2012
- Construction year of MV Michalis H
- Delivery timing
- Q1 2026
- Forward delivery date for vessel sale
- Orderbook size
- 8 vessels
- Company orderbook from now until 2029
Historical Context
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Announced Q4 2025 results release date and related conference call.
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Agreed to acquire two IMO Phase 3 Kamsarmax newbuild dry-bulk vessels.
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Declared quarterly $0.50 per share dividends on Series C and D preferreds.
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Authorized repurchase of up to 10,000,000 common shares, ~9.8% of outstanding.
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Reported softer Q3 2025 results while declaring a $0.05 common dividend.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
capesize technical
dry-bulk technical
orderbook technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONACO, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the sale of MV Michalis H, a 2012 Chinese-built, Capesize class, dry-bulk vessel, at a gross sale price of
Dr. Loukas Barmparis, President of the Company, commented: “In the context of our renewal strategy we sold the MV Michalis H at what we consider an optimal timing in the cycle and at a competitive price. At present, the orderbook of the Company consists of eight vessels from now until 2029.’’
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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