MONACO, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (NYSE: SB) (the “Company”), an international provider of marine drybulk transportation services, announced its participation in the Dry Bulk Shipping Panel at the annual DNB Carnegie Energy & Shipping Conference, to be held in Oslo, Norway, on Wednesday, March 4 and Thursday, March 5, 2026. This top-tier Nordic event connects listed companies with capital markets, offering insights into market trends and industry outlooks as part of a prominent an ...

Costs increased year over year. The CFO said daily vessel operating expenses rose 13% to $5,683, compared with $5,047 in the fourth quarter of 2024. Excluding drydocking and delivery expenses, daily vessel OpEx increased 6% to $5,057 from $4,787.Adamopoulos said Safe Bulkers averaged 45 vessels in operation during the fourth quarter of 2025 and generated an average time charter equivalent (TCE) of $17,050, compared with 45.9 vessels and a TCE of $16,521 in the year-ago quarter.Chief Financial Officer Konsta ...

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved adjusted earnings per share of $0.14, compared to $0.15 in Q4 2024 [5][29] - Adjusted EBITDA for Q4 2025 was $37.4 million, down from $40.7 million in Q4 2024 [28] - Daily vessel operating expenses increased by 13% to $5,683 in Q4 2025, compared to $5,047 in Q4 2024 [30] Business Line Data and Key Metrics Changes - The company operated an average of 45 vessels in Q4 2025, earning an average time charter equivalent of $17,050, compared to 45.9 vessels earning $16,521 in Q4 2024 [29] - The company declared a dividend of $0.05 per share, marking the seventeenth consecutive quarterly dividend [23] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% in 2026, with the highest growth in the Panamax and Supermax segments [7] - Global dry bulk demand is forecasted to grow by 2%-3% in 2026, with cargo volumes expected to expand by 1%-2% [13] Company Strategy and Development Direction - The company maintains a balance between spot and time charter exposure to capture market opportunities while preserving cash flow visibility [6] - The company is focusing on fleet renewal with an emphasis on quality tonnage, particularly Japanese-built vessels [12] Management's Comments on Operating Environment and Future Outlook - Management noted increased market volatility in the dry bulk market due to geopolitical reasons, but expressed optimism about the market's recovery [5] - The company highlighted the importance of maintaining a young and technologically advanced fleet to enhance operational performance and regulatory compliance [12] Other Important Information - The company has a strong liquidity position with $382 million in capital resources and a leverage ratio of 34% [23] - The company has a revenue backlog of $178 million, supporting debt service and reinvestment [33] Q&A Session Summary Question: Is there any appetite to renew the Capesize fleet? - Management indicated that second-hand prices are rising, but there is a lack of suitable tonnage available for sale, leading to a focus on newbuilds [36] Question: Have you seen increasing appetite for 2- to 3-year contracts on Kamsarmaxes? - Management noted that there is currently no interest for longer-term contracts, with the market just starting to improve [37][39] Question: Would you favor index-linked exposure or fixed coverage? - Management traditionally prefers fixed rates, especially in a rising market, and noted current rates for one-year deals are around $18,000 to $19,000 per day for Eco Kamsarmaxes [40]

Safe Bulkers (NYSE:SB) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsCliment Molins - Head of Shipping ResearchKonstantinos Adamopoulos - CFO and TreasurerLoukas Barmparis - President and SecretaryOperatorThank you for standing by, ladies and gentlemen, and welcome to Safe Bulkers conference call for the Q4 2025 financial results. We have with us Mr. Polys Hajioannou, Chairman and Chief Executive Officer, Dr. Loukas Barmparis, President, and Mr. Konstantinos Adamopoulos, Chief Fina ...

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved adjusted earnings per share of $0.14, with a board-declared dividend of $0.05 per share [3][17] - Adjusted EBITDA for Q4 2025 was $37.4 million, down from $40.7 million in Q4 2024 [17] - Daily vessel operating expenses increased by 13% to $5,683 in Q4 2025 compared to $5,047 in Q4 2024 [19] Business Line Data and Key Metrics Changes - The company operated an average of 45 vessels in Q4 2025, earning an average time charter equivalent of $17,050, compared to 45.9 vessels earning $16,521 in Q4 2024 [18] - The company has a revenue backlog of $178 million, supporting debt service and shareholder returns [20] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% in 2026, with the order book at approximately 11.4% of the current fleet [4] - Global dry bulk demand is forecasted to grow by 2%-3% in 2026, with cargo volumes expected to expand by 1%-2% [9][12] Company Strategy and Development Direction - The company maintains a prudent balance between spot and time charter exposure to capture market opportunities while preserving cash flow visibility [3] - The fleet is focused on quality, with approximately 80% being Japanese-built, and an average fleet age of 10.5 years, which is younger than the global average [6][15] Management Comments on Operating Environment and Future Outlook - The management noted increased market volatility in the dry bulk market due to geopolitical reasons, but expressed optimism about the market's recovery [3][9] - The company anticipates that supply growth will marginally match demand for 2026, indicating a balanced market outlook [12] Other Important Information - The company has significant liquidity with $382 million in capital resources and a comfortable leverage of 34% [13][20] - The company has an active share repurchase program of 10 million shares [14] Q&A Session Summary Question: Fleet renewal and Capesize age - Management indicated that second-hand prices are rising, but quality tonnages are scarce, leading to a focus on newbuilds [24][25] Question: Time charter market appetite - Management noted that there is currently no interest in 2-3 year contracts, with the market just starting to improve [26][27]

Q4 2025 EARNINGS PRESENTATION MV EFROSSINI EEDI-PHASE 3 – IMO NOx TIER III KAMSARMAX DELIVERED APRIL 2025 1 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in 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 entering into further time charters. Words ...

Safe Bulkers, Inc. Q4 2025 Earnings Call Summary - Moby Strategic Positioning and Operational Context Performance was driven by a slightly improved charter market environment in Q4 2025 compared to the prior year, resulting in higher charter hires. Management attributes their competitive advantage to a high-quality fleet, noting that 80% of their vessels are Japanese-built compared to a 40% global average. The company maintains a deliberate balance between spot market exposure and time charters to c ...

Core Viewpoint - Safe Bulkers, Inc. reported its unaudited financial results for the year ending December 31, 2025, highlighting a cash dividend declaration of $0.05 per share and a decrease in net income compared to the previous year [1][28]. Financial Highlights - Net revenues for Q4 2025 were $72.6 million, a slight increase from $71.5 million in Q4 2024, while total revenues for 2025 were $275.7 million, down from $307.6 million in 2024 [2][40]. - Net income for Q4 2025 was $11.8 million, down from $19.4 million in Q4 2024, with adjusted net income at $15.9 million compared to $18.1 million in the same period last year [2][40]. - EBITDA for Q4 2025 was $33.3 million, down from $41.9 million in Q4 2024, while adjusted EBITDA was $37.4 million compared to $40.7 million in Q4 2024 [2][40]. Operational Metrics - The average daily time charter equivalent (TCE) rate for Q4 2025 was $17,050, an increase from $16,521 in Q4 2024 [3][40]. - Daily vessel operating expenses rose to $5,683 in Q4 2025 from $5,047 in Q4 2024, with expenses excluding dry-docking and pre-delivery costs at $5,057, up from $4,787 [3][48]. - The average age of the fleet increased to 10.39 years as of December 31, 2025, compared to 9.99 years in the previous year [4][60]. Debt and Liquidity - Total debt as of December 31, 2025, was $540.1 million, with a consolidated leverage of approximately 34% [4][21]. - The company had $162.8 million in cash and cash equivalents, along with $219.5 million in undrawn revolving credit facilities [4][23]. - The repayment schedule for secured debt indicates significant payments due in 2026 and 2027, totaling $44.8 million and $186.7 million, respectively [21]. Fleet and Environmental Initiatives - The fleet consisted of 45 vessels, with one vessel agreed to be sold, and an orderbook of eight newbuilds, including two methanol dual-fueled vessels [12][13]. - The company is focused on environmental upgrades, with 26 vessels upgraded to improve energy efficiency and reduce greenhouse gas emissions [9][10]. - The company has amended its credit facility to align with its sustainability agenda, incorporating performance metrics related to fleet carbon intensity [8]. Dividend Policy - The Board declared a cash dividend of $0.05 per share, payable on March 18, 2026, to shareholders of record as of March 2, 2026 [28][29]. - The company has a history of consistent dividend payments, including a previous dividend of $0.05 per share in November 2025 [30].

Core Viewpoint - Safe Bulkers, Inc. has announced the sale of MV Michalis H for a gross price of $35.2 million, aligning with its renewal strategy and market timing [1][2]. Company Overview - Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, focusing on transporting bulk cargoes such as coal, grain, and iron ore [2]. - The company's common stock and preferred stocks are listed on the NYSE under the symbols "SB", "SB.PR.C", and "SB.PR.D" [2]. Transaction Details - The MV Michalis H, a Capesize class vessel built in 2012, is set for delivery within the first quarter of 2026 [1]. - The sale is considered optimal in the current market cycle, reflecting the company's strategic approach to fleet renewal [2]. Future Outlook - The company currently has an orderbook consisting of eight vessels scheduled for delivery by 2029 [2].

Investment Rating - The industry investment rating is "Buy" [3] Core Insights - The dry bulk shipping market is at the beginning of a new cycle, with supply bottoming out and demand showing signs of recovery. The global order book is at a historical low, and the manufacturing PMI has returned above 50, indicating potential demand growth [8][18]. - Different ship types exhibit varying earnings elasticity. The Capesize vessels show the highest elasticity, with a TCE increase of approximately $1,274 per day for every 100-point rise in the BDI index, while smaller vessels have a more muted response [18][96]. - The report highlights the comparative analysis of listed dry bulk shipping companies in the US and Hong Kong, focusing on TCE elasticity and balance sheet quality [18][79]. Summary by Sections Section 1: Elasticity of Listed Companies - The report emphasizes that despite significant differences in fleet size, average age, and order backlog among listed companies, their stock price movements are highly correlated due to the cyclical nature of the industry [18][19]. Section 2: Company Reviews - **Star Bulk Carriers (SBLK)**: SBLK has a diversified fleet and maintains a low average daily operating cost due to its scale. The company has a strong management team with extensive industry experience [21][22]. - **Himalaya Shipping (HSHP)**: HSHP focuses on large bulk carriers and has a young fleet. It benefits from high operational leverage and low cash break-even points, making it a key player in a rising market [34][39]. - **Genco Shipping (GNK)**: GNK has a low debt ratio and focuses on maintaining stable dividends, even during downturns. The company has shifted its strategy to reduce leverage and improve financial health [43][50]. - **Safe Bulkers (SB)**: SB has a concentrated ownership structure and focuses on fleet renewal, replacing older vessels with more environmentally friendly options. The company has a consistent dividend policy [51][55]. - **Diana Shipping (DSX)**: DSX employs a conservative strategy by locking in long-term charters, which stabilizes earnings and supports a steady dividend policy [62][70]. - **Pacific Shipping (2343.HK)**: This company focuses on smaller vessels and has a stable operational model, although it has lower earnings elasticity compared to its US counterparts [72][79]. Section 3: Horizontal Comparison - The report notes a clear differentiation in fleet composition between US and Hong Kong listed companies, with US firms predominantly operating larger vessels. This structural difference impacts their earnings volatility and potential for excess returns during market fluctuations [79][80].