Safe Bulkers, Inc. Announces Sale of a 2012-Built Capesize Class Dry-bulk Vessel

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.

Key Figures

Vessel sale price: $35.2 million Vessel build year: 2012 Delivery timing: Q1 2026 +1 more

4 metrics

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

Market Reality Check

Price: $5.83 Vol: Volume 830,642 is 25% abo...

normal vol

$5.83 Last Close

Volume Volume 830,642 is 25% above 20-day average 666,507. normal

Technical Price $5.83 is trading above 200-day MA at $4.45 and 5.05% below 52-week high $6.14.

Peers on Argus

SB fell 3.8%. Key peers ESEA (-3.46%), GNK (-3.76%), PANL (-5.38%), and CMRE (-4...

SB fell 3.8%. Key peers ESEA (-3.46%), GNK (-3.76%), PANL (-5.38%), and CMRE (-4.67%) also declined, while ASC rose 0.54%, pointing to predominantly downside sector pressure.

Historical Context

5 past events · Latest: Feb 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 09	Earnings date set	Neutral	+3.6%	Announced Q4 2025 results release date and related conference call.
Jan 22	Vessel acquisition	Positive	+0.2%	Agreed to acquire two IMO Phase 3 Kamsarmax newbuild dry-bulk vessels.
Jan 02	Preferred dividends	Positive	+0.6%	Declared quarterly $0.50 per share dividends on Series C and D preferreds.
Dec 01	Share repurchase	Positive	+0.8%	Authorized repurchase of up to 10,000,000 common shares, ~9.8% of outstanding.
Nov 25	Earnings & dividend	Negative	-0.4%	Reported softer Q3 2025 results while declaring a $0.05 common dividend.

Pattern Detected

Recent corporate actions (fleet moves, capital returns, event scheduling) have generally seen modestly positive price reactions, with earnings aligning negatively when results softened.

Recent Company History

Over the last several months, Safe Bulkers has combined fleet renewal, capital returns, and investor communication. It set Q4 2025 results and call dates on Feb 18–19, 2026, after acquiring two newbuild Kamsarmax vessels with deliveries stretching to 2028–2029. The company maintained preferred dividends and authorized a repurchase program for up to 10,000,000 common shares. Q3 2025 results showed softer earnings but ongoing dividends and liquidity. Today’s vessel sale fits the ongoing renewal strategy highlighted in these prior announcements.

Market Pulse Summary

This announcement highlights Safe Bulkers’ continued fleet renewal, selling a 2012-built Capesize ve...

Analysis

This announcement highlights Safe Bulkers’ continued fleet renewal, selling a 2012-built Capesize vessel for $35.2 million with delivery in Q1 2026, while maintaining an orderbook of 8 ships through 2029. It follows prior moves to add IMO Phase 3 vessels, dispose of older tonnage, and authorize buybacks. Investors may focus on how proceeds are allocated, future charter coverage, and upcoming earnings to gauge the impact on long-term fleet efficiency and profitability.

Key Terms

capesize, dry-bulk, orderbook

3 terms

capesize technical

"a 2012 Chinese-built, Capesize class, dry-bulk vessel"

Capesize describes the largest class of dry bulk cargo ships that are too big to pass through smaller canals and must sail around major capes instead. For investors, capesize fleets and their freight rates are a visible gauge of global demand for raw materials like iron ore and coal—think of them as big delivery trucks on the ocean; when they’re busy and rates rise, it signals stronger commodity trade and can boost shipping company revenues.

dry-bulk technical

"Capesize class, dry-bulk vessel, at a gross sale price"

Dry-bulk refers to large quantities of unpackaged, solid commodities—like grain, coal, iron ore, and cement—transported in specialized cargo ships or by land in bulk form. Investors watch dry-bulk because its shipping volumes and freight rates act like a thermometer for global trade and commodity demand: changes directly affect revenue and profitability for carriers, commodity producers, and companies tied to supply chains, much like toll income varies with highway traffic.

orderbook technical

"At present, the orderbook of the Company consists of eight vessels"

A list that shows all current buy and sell instructions for a security, displaying how many shares people want to trade and at what prices. Think of it as a marketplace bulletin board where buyers post what they’ll pay and sellers post what they’ll accept; the arrangement and size of those posts reveal how easy it is to trade, how fast prices may move, and where the next trades are likely to occur. Investors use the orderbook to judge liquidity, transaction cost risk, and short-term price direction.

AI-generated analysis. 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 $35.2 million and a forward delivery date within the first quarter of 2026.

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

FAQ

What did Safe Bulkers (SB) announce on February 13, 2026 about MV Michalis H?

Safe Bulkers announced a sale agreement for MV Michalis H at a gross price of $35.2 million. According to the company, the 2012 Chinese-built Capesize vessel has a forward delivery scheduled within the first quarter of 2026 and forms part of fleet renewal plans.

When will the sale of MV Michalis H to be delivered under Safe Bulkers' (SB) agreement?

Delivery is scheduled within the first quarter of 2026 under the sale agreement. According to the company, the transaction uses forward delivery timing to align with its renewal strategy and market-cycle considerations for disposing of the 2012-built Capesize vessel.

How much will Safe Bulkers (SB) receive for the MV Michalis H sale?

The announced gross sale price is $35.2 million for MV Michalis H. According to the company, that price reflects what it considers competitive timing in the shipping cycle and fits its broader fleet renewal strategy for upcoming years.

What type and age is the vessel Safe Bulkers (SB) sold on February 13, 2026?

The vessel is a 2012 Chinese-built, Capesize class dry-bulk ship named MV Michalis H. According to the company, the sale is part of a renewal strategy and the ship's characteristics informed the timing and pricing of the transaction.

How does the MV Michalis H sale affect Safe Bulkers' (SB) orderbook through 2029?

Safe Bulkers reported its orderbook consists of eight vessels from now until 2029. According to the company, the sale of MV Michalis H complements its renewal strategy while the firm continues to manage an orderbook extending through 2029.