Safe Bulkers Squeeze One Percent More Revenue Out of 2013

MarineLink
Wednesday, February 26, 2014
Image courtesy of Safe Bulkers

Greece's Safe Bulkers, Inc. reports Fourth Quarter & Twelve Months 2013 results and declares quarterly dividend on common stock of $0.06 per share for the fourth quarter of 2013.

Summary of Results for the Twelve-Month Period Ended December 31, 2013

  • Net revenue for the twelve-month period ended December 31, 2013 increased by 1% to $186.7 million from $184.3 million during the same period in 2012.
  • Net income for the twelve-month period ended December 31, 2013 decreased by 13% to $83.3 million from $96.1 million. Adjusted net income1 for the twelve-month period ended December 31, 2013 decreased by 16% to $75.4 million from $89.8 million, during the same period in 2012.
  • EBITDA2 for the twelve-month period ended December 31, 2013 decreased by 5% to $130.0 million from $137.5 million during the same period in 2012. Adjusted EBITDA1 for the twelve-month period ended December 31, 2013 decreased by 7% to $122.2 million from $131.2 million during the same period in 2012.
  • EPS and Adjusted EPS1 for the twelve-month period ended December 31, 2013 were $1.05 and $0.95 respectively, calculated on a weighted average number of shares of 77,495,029, compared to $1.27 and $1.19 for the same period in 2012, calculated on a weighted average number of shares of 75,468,465.

Dr. Loukas Barmparis, President of the Company, said: “As many of our long duration time charters expired, we have substantial and increasing exposure to the spot market. We believe our ongoing efforts to renew and gradually expand our fleet has positioned us well this early stage of the forthcoming shipping cycle’’.
 

 

 

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

People & Company News

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

Transas Upgrades Simulator Complex in Batumi

The presidents of Georgia and Latvia open the Batumi State Maritime Academy renovated training center powered by the Transas simulators On November 27, 2014, President

Ship Recycling Experts Gather in Tokyo

Top ship recycling experts from around the globe gathered in Tokyo on December 10 at the ClassNK Ship Recycling Seminar to discuss the latest updates to the EU

Bulk Carrier Trends

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

US Fleet to Pump $75m into Great Lakes Shipyards

U.S.-flag Great Lakes vessel operators plan to spend $75 million this winter to ready the fleet for the 2015 shipping season, the Lake Carriers’ Association (LCA) reported.

Last Saltie Departs Duluth; Lakers Make Final Push

Duluth-Superior’s international shipping season winds to a close as last saltie departs; Great Lakes freighters make final push to mid-January   This weekend

Finance

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

US Fleet to Pump $75m into Great Lakes Shipyards

U.S.-flag Great Lakes vessel operators plan to spend $75 million this winter to ready the fleet for the 2015 shipping season, the Lake Carriers’ Association (LCA) reported.

Liquefaction Terminals to Draw Big Spending

Liquefaction terminals to dominate forecast LNG capital expenditure   Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators Sonar
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: 0.1991 sec (5 req/sec)