MONACO, May 30, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company's 2023 Sustainability Report is available for download and can be accessed from its website using the link provided below. The 2023 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines, 'in accordance with the GRI Standards', and the Sustaina ...

Financial Data and Key Metrics Changes - In Q1 2024, the company reported a net income of $25.3 million, an increase from $19.3 million in Q1 2023 [19] - Adjusted EBITDA for Q1 2024 was $46.8 million compared to $33.1 million in the same period of 2023 [49] - The company maintained a strong liquidity position of approximately $216 million and a comfortable leverage of 34% [8][58] Business Line Data and Key Metrics Changes - The average number of vessels operated increased to 47.08 in Q1 2024 from 43.3 in Q1 2023, with a time charter equivalent (TCE) of $18,158 compared to $3,760 in the previous year [19] - The company executed the repurchase of 4.9 million shares and declared a dividend of $0.05 per share [3][57] Market Data and Key Metrics Changes - The global drybulk demand growth is forecasted at 3% for 2024, with expectations of gradual control of inflation and a resilient global economy [4] - The average daily rate for Capesize vessels in period charters is approximately $24,400, while the current market rate is around $19,500 [14] Company Strategy and Development Direction - The company is focused on fleet modernization by divesting older vessels and ordering new Phase 3 vessels, with a commitment to operational environmental excellence [5][44] - The strategic positioning of the fleet, with 85% comprised of Japanese-built vessels, enhances competitiveness in the environmental-based charter market [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the near- to medium-term trajectory of the freight market, supported by a low order book and aging fleet dynamics [15] - The company anticipates challenges from persistent inflation and geopolitical tensions but remains committed to leveraging liquidity for growth opportunities [59] Other Important Information - The company has a contracted revenue of about $276 million, providing flexibility in capital allocation [8] - The company is maintaining a healthy cash position of about $82 million, with an additional $164 million available in revolving credit facilities [59] Q&A Session Summary Question: How would you characterize the liquidity in the term market? - Management indicated that while rates may have come down, there is still sufficient liquidity to secure long-term charters [22] Question: Can you provide commentary on operating expenses forecasts for the remainder of the year? - Management noted that operating expenses increased due to substantial supplies for dry dockings but do not expect significant annual differences [28] Question: What are the thoughts on the buyback program going forward? - Management mentioned that the buyback program is nearly exhausted, and future decisions will depend on capital allocation strategies [66]

Apt. D11, Les Acanthes 6, Avenue des Citronniers, MC98000 Monaco (Address of principal executive office) 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 February 2024 SAFE BULKERS, INC. (Translation of registrant's name into English) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) Commission File Number 001-34077 SAFE BULKERS, INC. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Republic of the Marshall Islands (Jurisdiction of incorporation or organization) Safe Bulkers, Inc. Apt. D11 Les Acanthes 6, Avenue des Citronniers MC98000 Monaco (Address of principal executive office) Dr. Loukas Barmparis President Telephone: +30 ...

Safe Bulkers, Inc. (NYSE:SB) Q4 2023 Earnings Conference Call February 13, 2024 10:00 AM ET Company Participants Loukas Barmparis - President Konstantinos Adamopoulos - Chief Financial Officer Polys Hajioannou - Chairman & Chief Executive Officer Conference Call Participants Omar Nokta - Jefferies Climent Molins - Value Investor's Edge Operator Thank you for standing by, ladies and gentlemen, and welcome to the Safe Bulkers Conference Call on the Fourth Quarter ended December 31, 2023, Financial Results. We ...

Loukas Barmparis - President Konstantinos Adamopoulos - Chief Financial Officer Polys Hajioannou - Chairman & Chief Executive Officer Operator Before we begin, please note that this presentation contains forward-looking statements as defined in Section 27A of the Securities Act of 1933 as amended and 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 enteri ...

Q3 2023 EARNINGS PRESENTATION 2022 Sustainability Report MV MORPHOU EEDI-PHASE 3 – IMO NOx TIER III KAMSARMAX DELIVERED OCTOBER 2023 1 https://www.safebulkers.com/sustainability2022 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1934, as amended, and in Section 21E of the Securities Act of 1933, as amended) including, among other items, statements concerning future events, the Company's growth strategy and measure ...

Omar Nokta – Jefferies There are unresolved real estate problems with negative cross-border spillovers as the Chinese economy seems to be losing steam then leading to weaker-than-expected demand. The inflation maybe well below target and the central bank has cut interest rates. Nonetheless, continued weakness in the real estate sector is weighing on investment, foreign demand remains weak and rising and elevated youth unemployment at 20.9% in May 2023 indicates future labor market weakness. India's emergenc ...

Q2 2023 EARNINGS PRESENTATION MV VASSOS EEDI-PHASE 3 – IMO NOx TIER III KAMSARMAX DELIVERED MAY 2022 1 2022 Sustainability Report https://www.safebulkers.com/sustainability2022 This presentation contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of 1934, as amended, and in Section 21E of the Securities Act of 1933, as amended) including, among other items, statements concerning future events, the Company's growth strategy and measures to implement such strategy, in ...

Financial Data and Key Metrics Changes - The net income for Q1 2023 was $19.3 million, down from $36.4 million in Q1 2022 [54] - Adjusted earnings per share for Q1 2023 was $0.10, compared to $0.24 in the same period of 2022 [28] - The company maintained a cash position of approximately $90.7 million as of May 2023, with total liquidity and capital resources amounting to $351 million [29][48] Business Line Data and Key Metrics Changes - The average time-charter equivalent for Q1 2023 was $15,760, down from $21,354 in Q1 2022 [70] - Daily operating expenses for Q1 2023 were $5,550, compared to $5,722 in the previous year [54] - Adjusted EBITDA for Q1 2023 was $23.1 million, down from $26.1 million in Q1 2022 [55] Market Data and Key Metrics Changes - The global dry bulk demand growth is expected to increase only by 2% in 2023, with a forecasted drop in iron ore demand by 1% [41] - Commodity prices are projected to fall by 21% in 2023 after a 45% increase in 2022 [40] - The World Bank commodity price index declined by 30% as of April 2023 [43] Company Strategy and Development Direction - The company aims to maintain a competitive edge through an extensive environmental upgrade program and a focus on fuel efficiency [19][23] - The company has a cautious outlook on the medium-term freight market due to an aging fleet and regulatory pressures [15] - The strategy includes a balanced approach to capital allocation, focusing on dividends, share buybacks, and potential newbuild investments [81][92] Management's Comments on Operating Environment and Future Outlook - Management noted a gradually weakening charter market environment compared to the same period in 2022 [25] - The company is monitoring the market for potential investment opportunities but remains cautious due to high interest costs and market uncertainties [74][76] - The management expressed confidence in the company's liquidity and ability to navigate market challenges [57][92] Other Important Information - The company has terminated its ATM program, which had been in place since September 2021 [9] - The company has an active share buyback program targeting 10 million shares, with 8.3 million shares repurchased as of May 2023 [50][92] Q&A Session Summary Question: Thoughts on fleet opportunities and newbuilding - Management indicated that the newbuilding market is confusing, with rising prices and unclear future fuel options [32][61] Question: Investment in scrubbers - Management stated that current scrubber spreads are not attractive for new investments, with a threshold of around 150 for viability [64] Question: Capital allocation strategy - Management emphasized a balanced approach to capital allocation, focusing on dividends, buybacks, and maintaining a strong balance sheet [81][82] Question: Plans for older vessels in the fleet - Management plans to upgrade a significant portion of the older fleet to improve efficiency and maintain competitiveness [83][86] Question: Market outlook and pricing - Management noted that despite underperformance in the trade markets, there are signs of increasing prices in other sectors, indicating potential market recovery [87][91]