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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

Bulk Carrier Trends

Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal,

Simushir Under Tow by Barbara Foss

Foss Maritime's ocean-going tug, the Barbara Foss, is towing the Russian cargo vessel, Simushir, which lost power late Thursday night off the west coast of Haida Gwaii.

Vancouver Welcomes Bulker on Her Maiden Voyage

The Port of Vancouver USA welcomed the M/V Jobst Oldendorff, commanded by Capt. Baisie of Ghana, on her maiden voyage October 16. Capt. Baisie and his 21-member

Finance

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

Gulf Craft to Invest $100m in Dubai Shipyard

Company plans to invest $100 million over the next five years in the development of a new shipyard in Dubai Maritime City to build a global luxury yachts manufacturing

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1507 sec (7 req/sec)