Safe Bulkers (NYSE: SB) sells two older drybulk ships in fleet refresh

Rhea-AI Filing Summary

Safe Bulkers, Inc. has agreed to sell two older drybulk vessels as part of its fleet renewal strategy. The company will sell the 2006 Japanese-built Post-Panamax vessel MV Xenia for a gross sale price of $13.0 million and the 2008 Japanese-built Kamsarmax vessel MV Pedhoulas Commander for $14.7 million. Both vessels are expected to be delivered to their new owners with scheduled dry-dockings due, after completion of their current voyages.

The company states these divestments follow continued investment in modern newbuilds and aim to maintain a young, fuel-efficient and environmentally advanced fleet. Since 2022, Safe Bulkers has taken delivery of thirteen IMO GHG Phase 3 – NOx Tier III vessels, and its current orderbook includes eleven additional newbuilds aligned with its fleet age profile.

Key Figures

MV Xenia sale price: $13.0 million MV Pedhoulas Commander sale price: $14.7 million Total gross sale value: $27.7 million +4 more

7 metrics

MV Xenia sale price $13.0 million Gross sale price for 2006 Japanese-built Post-Panamax vessel

MV Pedhoulas Commander sale price $14.7 million Gross sale price for 2008 Japanese-built Kamsarmax vessel

Total gross sale value $27.7 million Combined gross sale price of the two vessels

Modern vessels delivered since 2022 13 vessels IMO GHG Phase 3 – NOx Tier III ships taken delivery of since 2022

Newbuild orderbook 11 newbuilds Additional vessels on order with delivery aligned to fleet age profile

MV Xenia build year 2006 Build year of the Post-Panamax drybulk vessel being sold

MV Pedhoulas Commander build year 2008 Build year of the Kamsarmax drybulk vessel being sold

Key Terms

Post-Panamax, Kamsarmax, IMO GHG Phase 3, NOx Tier III, +2 more

6 terms

Post-Panamax financial

"MV Xenia, a 2006 Japanese-built Post-Panamax drybulk vessel, for a gross sale price"

Post-panamax describes a ship or vessel that is too large to pass through the original locks of the Panama Canal, meaning its width, height, or depth exceeds those historic limits; it’s used as a size class for very large cargo ships. Investors care because these ships face route restrictions, higher port and handling requirements, or transshipment detours—like a truck that can’t fit under a bridge—which affects shipping costs, transit times, freight rates and demand for port and fleet upgrades.

Kamsarmax financial

"MV Pedhoulas Commander, a 2008 Japanese-built Kamsarmax drybulk vessel, for a gross sale price"

A kamsarmax is a standard class of dry bulk cargo ship sized to fit the locks and berths of certain ports, notably those with specific depth and width limits. Think of it like a delivery truck built to just fit a warehouse door: its dimensions and cargo capacity influence which ports it can use and how efficiently it carries grain, coal or ore. For investors, kamsarmaxes matter because their availability, operating costs and suitability for key trade routes affect freight rates, shipping company earnings and supply-chain capacity.

IMO GHG Phase 3 technical

"thirteen IMO GHG Phase 3 – NOx Tier III vessels, and our current orderbook"

IMO GHG Phase 3 is the third stage of international rules from the International Maritime Organization designed to reduce greenhouse gas emissions from ships, introducing tighter limits and more demanding reporting or operational requirements for vessel fuel use and carbon intensity. For investors it is like a stricter efficiency inspection for the shipping sector: it can raise compliance and upgrade costs for older vessels while creating demand for cleaner fuels, new ships and retrofit technology, thereby affecting profits, capital spending and competitive position.

NOx Tier III technical

"thirteen IMO GHG Phase 3 – NOx Tier III vessels, and our current orderbook"

NOx Tier III is a regulatory standard that limits the amount of nitrogen-oxide (NOx) pollution produced by large marine engines and other heavy-duty engines when operating in designated control zones. It matters to investors because meeting the rule often requires cleaner fuels, new engine technology, or costly retrofits—similar to a homeowner upgrading heating systems to meet a new city rule—and those choices affect operating costs, capital spending, and the competitive position of companies in affected sectors.

time charters financial

"including expected vessel acquisitions and entering into further time charters"

Time charters are contracts in which a ship owner rents a vessel to a renter for a set period of time; the renter directs where the ship goes and pays for fuel and voyage costs, while the owner provides the crew and handles maintenance. Investors care because time charters turn uncertain spot-market sales into more predictable revenue and cash flow, reducing near-term exposure to volatile freight rates—like renting a truck for months instead of selling single deliveries.

TCE rates financial

"changes in TCE rates, changes in fuel prices, risks associated with operations"

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

SAFE BULKERS, INC.

(Translation of registrant’s name into English)

Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ý          Form 40-F   ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether the registrant by furnishing the information contained in the Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ☐          No  ý

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

INCORPORATION BY REFERENCE

This Report on Form 6-K shall be incorporated by reference into our registration statement on Form F-3, as filed with the Securities and Exchange Commission on August 6, 2024 and as may be further amended, to the extent not superseded by documents or reports subsequently filed by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.

EXHIBIT INDEX

1. Press Release dated May 18, 2026: Safe Bulkers, Inc. Announces Sale of 2006-Built Post-Panamax Class and of 2008-Kamsarmax Class Drybulk Vessels.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 19, 2026

	SAFE BULKERS, INC.
	By:	/s/ Konstantinos Adamopoulos
	Name:	Konstantinos Adamopoulos
	Title:	Chief Financial Officer

Safe Bulkers, Inc. Announces Sale of 2006-Built

Post-Panamax Class and of 2008-Kamsarmax Class Drybulk Vessels

Monaco – May 18, 2026 — Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into agreements for the sale of two vessels: MV Xenia, a 2006 Japanese-built Post-Panamax drybulk vessel, for a gross sale price of $13.0 million, and MV Pedhoulas Commander, a 2008 Japanese-built Kamsarmax drybulk vessel, for a gross sale price of $14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages.

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 drybulk 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 vessels is Safe Bulkers (SB) selling in this 6-K update?

Safe Bulkers is selling two older drybulk vessels: MV Xenia, a 2006 Japanese-built Post-Panamax ship, and MV Pedhoulas Commander, a 2008 Japanese-built Kamsarmax vessel, both to be delivered after current voyages with dry-dockings due.

What are the sale prices of the Safe Bulkers (SB) vessels?

MV Xenia is being sold for a gross sale price of $13.0 million, and MV Pedhoulas Commander is being sold for a gross sale price of $14.7 million, reflecting divestments of older Post-Panamax and Kamsarmax drybulk ships.

How does this vessel sale fit Safe Bulkers (SB) fleet strategy?

The company says the sales are part of a fleet renewal strategy, divesting its oldest Kamsarmax and Post-Panamax vessels while it continues investing in modern newbuilds to keep a young, fuel-efficient, environmentally advanced drybulk fleet.

How many modern vessels has Safe Bulkers (SB) added since 2022?

Since 2022, Safe Bulkers has taken delivery of thirteen IMO GHG Phase 3 – NOx Tier III vessels. These ships are designed to meet stricter environmental standards and support the company’s goal of operating a modern, efficient drybulk fleet.

What is in Safe Bulkers (SB) current newbuild orderbook?

Safe Bulkers reports an orderbook of eleven additional newbuilds. The delivery schedules for these IMO-compliant vessels are aligned with the company’s fleet age profile to support an ongoing renewal and modernization program in drybulk shipping.

On which exchange and symbols does Safe Bulkers (SB) trade?

Safe Bulkers’ common stock and preferred shares trade on the NYSE. The symbols are “SB” for common stock, “SB.PR.C” for series C preferred stock, and “SB.PR.D” for series D preferred stock, covering its listed equity instruments.