CSIMarket
 
Safe Bulkers Inc   (SB)
Other Ticker:  
 
 
Price: $4.7100 $-0.09 -1.875%
Day's High: $4.79 Week Perf: -2.89 %
Day's Low: $ 4.68 30 Day Perf: -5.04 %
Volume (M): 378 52 Wk High: $ 5.15
Volume (M$): $ 1,779 52 Wk Avg: $3.70
Open: $4.77 52 Wk Low: $2.97



 Market Capitalization (Millions $) 535
 Shares Outstanding (Millions) 114
 Employees 692
 Revenues (TTM) (Millions $) 580
 Net Income (TTM) (Millions $) 77
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 0

Safe Bulkers Inc

We are 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 consumers of marine drybulk transportation services. We had a fleet of 33 drybulk vessels, with an aggregate carrying capacity of 3,019,700 dwt and an average age of 5.8 years, making us one of the world’s youngest fleets of Panamax, Kamsarmax, Post-Panamax and Capesize class vessels. Our fleet is expected to grow through 2018 as the result of the delivery of 11 further contracted newbuild vessels, comprised of four Panamax class vessels, four Kamsarmax class vessels and three Post-Panamax class vessels. Upon delivery of the last of our contracted newbuilds, assuming we do not acquire any additional vessels or dispose of any of our vessels, our fleet will be comprised of 44 vessels, having an aggregate carrying capacity of 3,906,400 dwt.

We employ our vessels on both period time charters and spot time charters, according to our assessment of market conditions, with some of the world’s largest consumers of marine drybulk transportation services. The vessels we deploy on period time charters provide us with relatively stable cash flow and high utilization rates, while the vessels we deploy in the spot market allow us to maintain our flexibility in low charter market conditions.

Safe Bulkers, Inc. was incorporated in the Republic of the Marshall Islands on December 11, 2007, under the BCA, for the purpose of acquiring ownership of various subsidiaries that either owned or were scheduled to own vessels. We are controlled by the Hajioannou family, which has a long history of operating and investing in the international shipping industry, including a long history of vessel ownership. Vassos Hajioannou, the late father of Polys Hajioannou, our chief executive officer, first invested in shipping in 1958. Polys Hajioannou has been actively involved in the industry since 1987, when he joined the predecessor of Safety Management.

Over the past 20 years under the leadership of Polys Hajioannou, we have renewed our fleet by selling 11 drybulk vessels during periods of what we viewed as favorable secondhand market conditions and contracting to acquire 53 drybulk newbuilds and four drybulk secondhand vessels. Also under his leadership, we have expanded the classes of drybulk vessels in our fleet and the aggregate carrying capacity of our fleet has grown from 887,900 deadweight tons prior to our initial public offering in May 28, 2008 to 3,019,700 dwt. The quality and size of our current fleet, together with our long-term relationships with several of our charter customers, are, we believe, the results of our long-term strategy of maintaining a young, high quality fleet, our broad knowledge of the drybulk industry and our strong management team. In addition to benefiting from the experience and leadership of Polys Hajioannou, we also benefit from the expertise of our Manager which, along with its predecessor, has specialized in drybulk shipping since 1965, providing services to over 49 drybulk vessels. In June 2008, we completed an initial public offering of our common stock in the United States and our common stock began trading on the New York Stock Exchange. Our principal executive office is located at Apt. D11, Les Acanthes, 6, Avenue des Citronniers MC 98 000 Monaco. Our representation office in Greece is at 30-32 Avenue Karamanli, 16673 Voula, Athens, Greece. Our registered address in the Republic of the Marshall Islands is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960. The name of our registered agent at such address is The Trust Company of the Marshall Islands, Inc.

Our vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. We may employ our vessels in time charters or in voyage charters.

A time charter is a contract to charter a vessel for a fixed period of time at a set daily rate and can last from a few days up to several years, where the vessel performs one or more voyages between load port(s) and discharge port(s). Based on the duration of vessel’s employment, a time charter can be either a long-term, or period, time charter with duration of more than three months, or a short-term, or spot, time charter with duration of up to three months. Under our time charters, the charterer pays for most voyage expenses, such as port, canal and fuel costs, agents’ fees, extra war risks insurance and any other expenses related to the cargoes, and we pay for vessel operating expenses, which include, among other costs, costs for crewing, provisions, stores, lubricants, insurance, maintenance and repairs, tonnage taxes, drydocking and intermediate and special surveys.

Voyage charters are generally contracts to carry a specific cargo from a load port to a discharge port, including positioning the vessel at the load port. Under a voyage charter, the charterer pays an agreed upon total amount or on a per cargo ton basis, and we pay for both vessel operating expenses and voyage expenses. We infrequently enter into voyage charters. Voyage charters together with spot time charters are referred to in our industry as employment in the spot market.

We intend to employ our vessels on both period time charters and spot time charters, according to our assessment of market conditions, with some of the world’s largest consumers of marine drybulk transportation services. The vessels we deploy on period time charters provide us with relatively stable cash flow and high utilization rates, while the vessels we deploy in the spot market allow us to maintain our flexibility in low charter market conditions.



   Company Address: Apt. D11 Monaco 0
   Company Phone Number: 888 400   Stock Exchange / Ticker: NYSE SB
    Next quarterly dividend pay out on April 17, 2024.


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
EGLE   -0.16%    
GNK        1.13% 
NMM        1.06% 
PANL   -2.05%    
SBLK   -3.19%    
SFL   -1.49%    
• View Complete Report
   



Dividend

Safe Bulkers, Inc. Demonstrates Commitment to Shareholders through Generous Dividend Declaration

Published Wed, Apr 3 2024 1:00 PM UTC

Safe Bulkers, Inc. Strengthens Commitment to Shareholders with Dividend Declaration
Safe Bulkers, Inc., a leading provider of marine drybulk transportation services, has announced its dedication to enhancing shareholder value through a generous dividend declaration. The company's Board of Directors declared the decision on October 4, 2023, reiterating its commitment to r...

Product Service News

Safe Bulkers, Inc. Announces Sale of Two Dry-bulk Vessels as Company Sees Revenue Increase

Published Wed, Mar 6 2024 2:00 PM UTC

In a recent announcement, Safe Bulkers, Inc. (NYSE: SB), a global provider of marine drybulk transportation services, revealed that it has entered into separate agreements for the sale of two dry-bulk vessels. The vessels in question are the MV Panayiota K, a 2010-built Post-Panamax class vessel, and the MV Paraskevi 2, a 2011-built Panamax class vessel. The gross sale price...

Safe Bulkers Inc

Safe Bulkers Inc reports sharp drop in income per share for fourth quarter of 2023

Safe Bulkers Inc (SB) recently reported its financial results for the fourth quarter of 2023, showing a decline in both top and bottom-line figures compared to the previous year. The company's net profit per share plummeted by -55.15%, while revenue decreased by -18.77% year on year. Revenue for the quarter was reported at $579.79 million, down from $713.77 million in the same period last year. Earnings per share also dropped to $0.61 from $1.36 in the corresponding time frame a year before.
The company's operating margin decreased to 17.96%, and net margin shrank to 13.34% in the fourth quarter of 2023. Operating earnings fell by -43.6% to $104.148 million, leading to a reduction in the operating margin from 25.87% in the fourth quarter of 2022. The company's profitability for the financial period ending December 31, 2023, was impacted by these declines.

Dividend

Safe Bulkers, Inc. Reports Strong Financial Results and Declares Dividend, Driving Share Price Momentum

Published Mon, Feb 12 2024 9:15 PM UTC

Safe Bulkers, Inc. Reports Strong Financial Results and Declares Dividend on Common Stock
Safe Bulkers, Inc., a leading provider of marine drybulk transportation services, has recently announced its unaudited financial results for the fourth quarter and twelve months of 2023. The company also declared a cash dividend of $0.05 per share of outstanding common stock. These ...

Contract

Safe Bulkers Inc.: Navigating Fleet Optimization and Revenue Challenges in the Drybulk Transportation Industry

Published Mon, Feb 12 2024 9:05 PM UTC

Safe Bulkers Inc. Announces Sale of Oldest Vessel in Fleet and Competes with Increase in Revenue but Sluggish Net Income GrowthSafe Bulkers Inc., an international provider of marine drybulk transportation services, recently announced the sale of MV Maritsa, the oldest vessel in its fleet, for a gross sale price of $12.2 million. The Japanese-built Panamax class dry-bulk vess...






 

Safe Bulkers Inc's Segments
 
 
• View Complete Report




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com