Safe Bulkers(SB)
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Safe Bulkers(SB) - 2025 Q1 - Quarterly Report
2025-05-20 12:24
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 2025 Form 20-F ý Form 40-F o 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): SAFE BULKERS, INC. (Tran ...
Safe Bulkers, Inc. Reports First Quarter 2025 Results and Declares Dividend on Common Stock
Globenewswire· 2025-05-19 20:05
Core Viewpoint - Safe Bulkers, Inc. reported a decline in financial performance for Q1 2025 compared to the same period in 2024, with net revenues decreasing by 21% and net income significantly lower due to softer charter markets and increased operating expenses [1][48]. Financial Performance - Net revenues for Q1 2025 were $64.3 million, down from $81.7 million in Q1 2024 [2][48]. - Net income decreased to $7.2 million in Q1 2025 from $25.3 million in Q1 2024 [2][48]. - Adjusted net income for Q1 2025 was $7.8 million compared to $24.2 million in Q1 2024 [2][48]. - EBITDA for Q1 2025 was $28.8 million, down from $47.9 million in Q1 2024 [2][48]. Operational Metrics - The average daily time charter equivalent (TCE) rate fell to $14,655 in Q1 2025 from $18,158 in Q1 2024 [3][48]. - Daily vessel operating expenses increased by 6% to $5,765 in Q1 2025 compared to $5,442 in Q1 2024 [3][55]. - The average number of vessels operated was 46.00 in Q1 2025, down from 47.08 in Q1 2024 [3][48]. Fleet and Capital Expenditures - As of May 9, 2025, the fleet consisted of 47 vessels with an average age of 10.1 years [18][33]. - The company has an orderbook of six newbuilds with a total capital expenditure requirement of approximately $252.4 million [19][33]. - The company has paid $76.5 million towards the newbuilds, with $175.9 million remaining [19][33]. Debt and Liquidity - Total debt as of March 31, 2025, was $528.2 million, with a consolidated leverage of approximately 37% [26][36]. - The company had $127.7 million in cash and cash equivalents and $148.9 million in undrawn revolving credit facilities as of March 31, 2025 [8][31]. - The repayment schedule for total debt includes $54.1 million due in 2025 and $167.9 million in 2027 [26][36]. Dividend Declaration - The Board declared a cash dividend of $0.05 per share on May 19, 2025, payable on June 20, 2025 [37][39].
Safe Bulkers, Inc. Sets Date for the First Quarter 2025 Results, Conference Call, and Webcast
Globenewswire· 2025-05-13 20:05
Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore along global shipping routes for major users in the industry [6] Earnings Release Information - The company will release its financial results for the first quarter ended March 31, 2025, after the market closes on May 19, 2025 [1] - A conference call to discuss the financial results will be held on May 20, 2025, at 10:00 A.M. Eastern Time [2] Conference Call Details - Participants can join the call by dialing in 10 minutes before the scheduled time using specific toll-free numbers for the US and UK [3] - An alternative option is available for participants to register for the call using a "call me" feature for a quicker connection [4] Webcast Information - A live and archived webcast of the conference call, along with accompanying slides, will be available on the company's website [5]
Safe Bulkers, Inc. Chairman & CEO and President of the Republic of Cyprus to Ring NYSE Closing Bell on Friday, April 4, 2025
Newsfilter· 2025-04-04 16:00
Core Points - Safe Bulkers, Inc. is hosting a special ceremony at the New York Stock Exchange to honor the Republic of Cyprus as a global business destination [1][2] - The event marks the ten-year anniversary of Safe Bulkers' operations in Cyprus and highlights the country's attractiveness as a business hub in the Eastern Mediterranean [2][3] - The ceremony includes the participation of prominent figures such as the President of Cyprus and members of the business community, emphasizing the company's successful journey on the NYSE since 2008 [2][3] Company Overview - Safe Bulkers, Inc. is an international provider of marine dry-bulk transportation services, specializing in transporting bulk cargoes like grain, coal, and iron ore [5] - The company's common stock and preferred stocks are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" [5] Event Details - The event is part of the 3rd Capital Link Cyprus Business Forum, which aims to foster dialogue on Cyprus's business and investment landscape [3] - Safe Bulkers is a grand sponsor of the forum and is hosting a dinner reception in honor of the President of Cyprus [4]
Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares
Globenewswire· 2025-04-02 20:05
MONACO, April 02, 2025 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company’s Board of Directors has declared: a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) (NYSE: SB.PR.C) for the period from January 30, 2025 to April 29, 2025;a cash dividend of $0.50 per share on its 8.00% Series D Cumulative Redeem ...
Safe Bulkers Announces Participation in Capital Link's Investor Conference in New York on Monday, March 31, 2025
GlobeNewswire News Room· 2025-03-19 20:05
Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore along global shipping routes [3]. Event Participation - Safe Bulkers will participate in the 19th Annual Capital Link International Shipping Forum on March 31, 2025, at the Metropolitan Club in New York City, where it will hold one-on-one meetings with institutional investors [1][2]. Forum Details - The forum is a significant event that gathers executives, investors, and analysts to discuss macroeconomic trends and market dynamics affecting the global shipping sector, providing insights from industry leaders and discussions following annual corporate results [2]. Meeting Registration - Institutional investors interested in scheduling a one-on-one meeting with Safe Bulkers can register through a provided link [3].
Safe Bulkers Announces Participation in Capital Link's Investor Conference in New York on Monday, March 31, 2025
Newsfilter· 2025-03-19 20:05
MONACO, March 19, 2025 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. ("Safe Bulkers") (NYSE:SB), an international provider of marine drybulk transportation services, announced today it will participate in the 19th Annual Capital Link International Shipping Forum on Monday, March 31, 2025, at the Metropolitan Club in New York City. During the forum, Safe Bulkers will be available for one-on-one meetings with institutional investors. The 19th Annual Capital Link International Shipping Forum is a leading event that w ...
3rd Capital Link "Business in Cyprus Forum": A Premier Gathering for Industry Leaders
Newsfilter· 2025-03-12 14:37
Core Insights - The 3rd Capital Link Cyprus Business Forum will take place on April 4, 2025, featuring keynote speakers including H.E. Nikos Christodoulides, President of the Republic of Cyprus [1][4] - The forum aims to enhance Cyprus's profile in the international investment community, focusing on its business and investment landscape [2][8] Event Overview - The forum is organized in collaboration with the Cyprus Union of Shipowners and supported by Invest Cyprus and the Deputy Shipping Ministry of the Republic of Cyprus [2] - It will address key topics such as security, energy, cyber technology, banking, finance, and shipping [3] Keynote Speakers and Agenda - Keynote remarks will be delivered by H.E. Nikos Christodoulides, with introductory remarks by Mr. Andreas Hadjiyiannis, CEO of Cyprus Sea Lines [4] - The event will conclude with the NYSE Closing Bell ceremony, featuring Mr. Polys Hajioannou, CEO of Safe Bulkers, Inc. [5][11] Economic Landscape - Cyprus is positioned as a major hub for financial services, energy, logistics, shipping, and technology, attracting global entrepreneurs and investors [6] - Recent credit rating upgrades indicate a stable and competitive economic environment, enhancing investor confidence [7] Strategic Positioning - The forum will provide insights into Cyprus's strategic role as a gateway for investment in Europe, the Middle East, and beyond [8] - Cyprus's competitive advantages include a robust maritime cluster, managing over 7% of the global fleet, and serving as a regional financial, insurance, and legal hub [9]
Safe Bulkers(SB) - 2024 Q4 - Annual Report
2025-03-10 21:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. 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 March 2025 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) For ...
Safe Bulkers Announces Filing of 2024 Annual Report on Form 20-F
Globenewswire· 2025-03-10 20:32
Core Viewpoint - Safe Bulkers, Inc. has filed its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission, which is accessible on the company's website [1] Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, specializing in transporting bulk cargoes such as coal, grain, and iron ore along global shipping routes for major users of these services [3] - The company's common stock and preferred stocks are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" respectively [3] Report Availability - Shareholders can request a hard copy of the 2024 Annual Report on Form 20-F free of charge through Capital Link [2]