Safe Bulkers Inc
NYSE:SB
Safe Bulkers Inc
Safe Bulkers, Inc. is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm's principal business is the acquisition, ownership and operation of drybulk vessels. The firm's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The firm is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The firm's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
Safe Bulkers, Inc. is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm's principal business is the acquisition, ownership and operation of drybulk vessels. The firm's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The firm is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The firm's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
Revenue Decline: Safe Bulkers experienced decreased revenue in Q3 2025 due to weaker charter market conditions and lower earnings from scrubber-fitted vessels.
Profitability: Adjusted EBITDA was $36.1 million, down from $41.3 million YoY, and adjusted EPS was $0.12 versus $0.16 last year.
Dividend: The company declared its 16th consecutive quarterly dividend of $0.05 per share, yielding 4.1%.
Fleet Renewal: Sold two of its oldest vessels and continues to invest in new, fuel-efficient ships, with six newbuilds on order and dual-fuel vessels arriving in 2027.
Liquidity & Balance Sheet: Safe Bulkers maintains strong liquidity with $187 million in cash and $210 million in undrawn revolving credit facilities.
Market Outlook: Management expects a gradually improving freight market but notes that supply growth is expected to outpace demand in the near term.
