Safe Bulkers Reports $44.2 Million Revenue, 1Q13 Results

MarineLink.com
Thursday, May 16, 2013

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced its unaudited financial results for the quarter ended March 31, 2013. The Company’s Board of Directors also declared a quarterly dividend of $0.05 per share for the first quarter of 2013.

Summary of First Quarter 2013 Results


Net revenue for the first quarter of 2013 remained almost unchanged at $44.2 million from $44.1 million during the same period in 2012.

Net income for the first quarter of 2013 decreased by 25% to $16.1 million from $21.6 million during the same period in 2012. Adjusted net income 1 for the first quarter of 2013 decreased by 30% to $16.0 million from $22.9 million during the same period in 2012.

EBITDA 2 for the first quarter of 2013 decreased by 10% to $27.5 million from $30.7 million during the same period in 2012. Adjusted EBITDA 1 for the first quarter of 2013 decreased by 14% to $27.4 million from $31.9 million during the same period in 2012.

Earnings per share (“EPS”) and Adjusted EPS 1 for the first quarter of 2013 were $0.21 and $0.21, respectively, calculated on a weighted average number of shares of 76,673,484, compared to $0.30 and $0.32, respectively, in the first quarter 2012, calculated on a weighted average number of shares of 71,868,950.

The Company’s Board of Directors declared a dividend of $0.05 per share for the first quarter of 2013.

SafeBulker's full report can be viewed online here.

www.safebulkers.com
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers

Brazil Truck Strike Diminishes

Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a

Bulk Carrier Trends

Shipping Industry Faces Shake Up

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate

Vessel Sales: February 2015

Vessel sales for February 2015  - (as of March 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built -  - (Age)

First Ship to Load Soy at Tegram Bound for China

The first ship to load soybeans from the new Tegram terminal in the northeastern port of Ponta Madeira in Sao Luis, Brazil, will berth on March 10, local shipping agents Cargonave said on Tuesday.

Finance

Shipping Industry Faces Shake Up

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate

Gulf of Mexico Oil Production on the Rise

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016.

Vessel Sales: February 2015

Vessel sales for February 2015  - (as of March 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built -  - (Age)

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4633 sec (2 req/sec)