Safe Bulkers Completes Acquisition of Mount Troodos
The international provider of marine drybulk transportation services Safe Bulkers said that it had completed the acquisition a second hand, Japanese, 181,400 dwt, Capesize class dry-bulk vessel the Mount Troodos, built in 2009 in the last quarter.The Monaco-based company said in a press release that: "We have acquired Mount Troodos at what we consider an attractive price."The acquisition was financed from cash on hand and subsequent to quarter end with a new loan facility.Incidentally, the company signed an amendment to an existing loan facility of $32.0 million initially intended for two vessels, upsizing it to a total of $52.4 million…
Safe Bulkers Improves Bottomline
Monaco-based Safe Bulkers said that its net revenues for the three months months period ended September 30, 2018 increased by 34% to $50.1 million from $37.3 million during the same period in 2017.The international provider of marine drybulk transportation services said in a press release that its net income for the third quarter of 2018 increased by 21% to $8.1 million from $6.7 million, during the same period in 2017. Adjusted net income for the third quarter of 2018 was $8.2 million as compared to adjusted net loss of $1.8 million, during the same period in 2017.Meanwhile, the net revenues for the nine months of 2018 increased by 33% to $140.6 million from $105.7 million during the same period in 2017.
Haji-Ioannou Named CMA Commodore
The Connecticut Maritime Association (CMA) announced that Stelios Haji-Ioannou has been named the 2003 recipient of the Association’s prestigious Commodore Award. Stelios Haji-Ioannou, Chairman of easyGroup, joins a distinguished list of maritime executives who have received the Award, which is given each year to a member of the international maritime community who has demonstrated leadership, vision and commitment to the business. Donald Frost, President of the Association, commenting on the selection stated, “Mr. Haji-Ioannou has provided the international maritime community with enthusiastic leadership since he entered it. . Haji…
INTERTANKO appoints Bill Box as Managing Editor
INTERTANKO has appointed Bill Box as Managing Editor for the Association. Bill Box (49) joins INTERTANKO after a long career within shipping and the trade press. Bill started his career in 1973 when he joined the Pomme shipping agency in Port de Bouc in France, where, over a period of four years, he spent time learning about the industry at the sharp end. He later gained experience in S&P broking, tanker chartering and scheduling with companies such as H. Clarkson, Marathon Oil, Gulf Shipping, Troodos and Teekay Shipping. This was then followed by 12 years of journalism with Seatrade and Seatrends. INTERTANKO’s Managing Director Dr. “We have known Bill for many years and are delighted to have secured his services as Managing Editor.
