Safe Bulkers(US:SB)2023-05-11 17:27Financial Performance & Liquidity - Safe Bulkers reported contracted revenues of approximately $282.1 million as of March 31, 2023[36] - The company's liquidity and capital resources amounted to $355.9 million as of March 31, 2023[36] - Safe Bulkers' outstanding consolidated debt was $430.2 million as of March 31, 2023[37] - The company's fleet scrap value was $389.4 million as of March 31, 2023, based on $575/lwt ton[37] - Safe Bulkers reported a Time Charter Equivalent (TCE) rate of $15,760 for the period ending March 31, 2023[87] Fleet & Environmental Compliance - Safe Bulkers has an extensive orderbook of 12 Tier III newbuilds and scheduled 20 vessels upgraded by end 2023[26] - The company has 20 Scrubber fitted vessels with +3 scrubbers on order, creating ~$25.9M additional scrubber revenue capacity[37] - Safe Bulkers' fleet average age is 10.59 years as of March 31, 2023[87] - Safe Bulkers has 80% Japanese built fleet[43] Market Outlook - Global dry bulk demand growth is projected at +2% by Bimco Mar-23, driven mostly by China's economic recovery[20] - World Bank projects a 21% price drop in commodities in 2023[21]