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Safe Bulkers

Safe Bulkers Expands Fleet

Photo: Safe Bulkers, Inc.

 Safe Bulkers, in its Q1 financial results annoucements said that with the latest addition of Pedhoulas Rose, its fleet has increased to 38 dry bulk vessels. In January 2017, the company took delivery of Pedhoulas Rose (Hull No. 1146), a 82,000 dwt, newbuild Kamsarmax class vessel.  Also in January, Safe Bulkers took delivery of Hull No. 1551, a 81,600 dwt, newbuild Kamsarmax class vessel which was subsequently sold to chief executive officer and chairman, Polys Hajioannou.   As of May 12, 2017, Safe Bulkers' operational fleet was comprised of 38 dry bulk vessels with an average age of 6.9 years and an aggregate carrying capacity of 3.4 million dwt.   "Taking into account our last contracted drybulk newbuild Kamsarmax class vessel, scheduled for delivery in 2018, our fleet will be comprised of 39 vessels, 11 of which will be eco-design vessels, with an aggregate carrying capacity of 3.5 million dwt, assuming no additional vessel acquisitions or disposals," the company said.  


Olivier Named UK Club Chairman

Alan Olivier, the new Chairman and President of the UK P&I Club

Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club’s Chairman for the past five years, having joined the board in 1996 in the shipping division


Safe Bulkers Announce Public Offering

Safe Bulkers, Inc., an international provider of marine drybulk transpor tation services, announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share to the public. In connection with the public offering, the company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Shares


Safe Bulkers Close Series B Preferred Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share at a price of $25.00 per share. The company also announced the closing of its previously announced private placement of 800


Safe Bulkers to Amend Loan Pact with RBS

Photo: Safe Bulkers, Inc

 Safe Bulkers, Inc., an international provider of marine drybulk transportation services,  has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73.4 million.    Following this amendment the term loan facility contains the following: The total consolidated liabilities of the Company divided by its total consolidated assets charter inclusive must not exceed


Safe Bulkers Reports Q2 Loss, Expands Fleet

Photo: Safe Bulkers Inc.

 The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter.  It had a loss of 15 cents per share.   Net revenue for Q2 of 2016 decreased by 18% to $26.2 million from $31.8 million during same period in 2015.   Net loss for the second quarter of 2016 was $9.0 million as compared to $4.4 million, during the same period in 2015.  Adjusted net loss for the second quarter of 2016 was $8.7 million as compared to $3


Hajioannou Takes on Safe Bulkers Newbuilds

Courtesy Safebulkers

Safe Bulkers, Inc. announced today that the Company has agreed to novate an existing newbuild contract for Hull No. S835, a Japanese Panamax class vessel, and sell, upon delivery, Hull No. 1551, a Japanese Kamsarmax class vessel, in each case, to entities owned by Mr. Polys Hajioannou, the Chairman of the Board and the Chief Executive Officer of the Company. Each vessel is scheduled to be delivered in the first quarter of 2017.


Moore Stephens: 4th Straight Year of Operating Costs Decline

Richard Greiner (Photo: Moore Stephens)

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015.   This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators


US Post-election Shipping Rally Raises Interest, Questions

File photo: Diana Containerships

Shares of U.S. shipping companies shot higher again on Wednesday, causing volatility halts in a number of stocks and raising questions among investors and analysts over the extent of their sharp post-election rally.   The jump in share prices and unusually heavy trading volume even surprised analysts who follow the stocks, although some said the gains appeared to result in part from optimism that commodity demand would increase under President-elect Donald Trump.  


ABS Initiative Improves Bulker Loading Safety

Photo: ABS

 ABS has introduced a new service and analysis tool that will allow atypical cargoes on bulk carriers. The software streamlines loading analysis and provides a safer approach to loading atypical bulk cargo.   “ABS understands that maintaining a leadership role means finding ways to improve safety and efficiency for industry,” says ABS Executive Vice President for Global Marine Dr. Kirsi Tikka. “Our new steel coil loading solution delivers customization options to


UKHO Supports HMS Queen Elizabeth in Portsmouth

Photo: © British Crown

The United Kingdom Hydrographic Office (UKHO) has supported the safe arrival of HMS Queen Elizabeth into Portsmouth by providing specialist marine geospatial and hydrographic expertise and data capabilities.   Following initial dredging operations to make Portsmouth’s navigation


MPA, IBM Complete Pilot Trial on Project SAFER

Illustration: MPA

 The Maritime and Port Authority of Singapore (MPA) and IBM today announced at the opening of the International Safety@Sea Conference that they have jointly completed the pilot trial of three modules under the MPA-IBM SAFER project, which will be rolled out progressively beginning September


NYK Distributes Digital Version of Safe Cargo Operation Guidelines

Photo: NYK Europe

 NYK has released a digital version of its “Essential-15” safe cargo operation guidelines for the high quality transport of dry bulk cargo. The new, multilingual version includes digital animations and replaces the previous version, which was a paper document


Florida Navy Bases Prepare for Irma

Photo: United States Navy

 Navy installations throughout Florida are preparing for heavy weather as Hurricane Irma approaches South Florida.   Commander, Navy Region Southeast, Rear Adm. Bette Bolivar, directed the evacuation of non-essential personnel and family members from Naval Air Station Key West, Florida


Bugbee Buys More Scorpio Bulkers Shares

Dry bulk vessel owner and operator Scorpio Bulkers Inc. said its president Robert Bugbee has purchased 15,000 common shares of the company at an average price of $6.29 per share in the open market.    A director of the company also purchased 10


Newbuild Tonnage: Greece Leads the Way in 2017

File photo: Maran Tankers

Greece newbuidling orders dominate in 2017 so far   Globally 119 new bulkers and tankers have been ordered since the start of 2017, according to data compiled by VesselsValue Deals. Of those orders, 35 come from Greek ship owners (14 bulkers, 21 tankers) – by far the most of any nation


Skangas Names LNG Bunker Supply Ship Coralius

Photo: Skangas

 Coralius, the first European built LNG bunker and distribution vessel was named Monday, May 22, by Johanna Lamminen, Chair of the Board of Skangas and Chief Executive Officer of Gasum.    The 5,800 cbm vessel was commissioned by owners Anthony Veder and Sirius Shipping in 2015


Boris Johnson Visits Coldharbour Marine

The Foreign Secretary Boris Johnson visiting Coldharbour Marine (Credit: Nottingham Post / Coldharbour Marine)

 U.K. Foreign Secretary Boris Johnson paid a visit to Coldharbour Marine recently as the ballast water treatment system manufacturer’s facility in Nottinghamshire gears up for significant export-oriented production. Coldharbour Marine has spent more than 10 years researching and


LNG-fueled Newcastlemax Bulk Carrier Design Unveiled

The project partners of the Green Corridor Joint Industry Project (JIP) came together for a meeting at the DNV GL Group headquarters in Høvik this week. They also presented the results from stage one of the JIP at the Nor-Shipping trade fair. Photo: DNV GL

Project partners BHP, Fortescue, Mitsui O.S.K. Lines (MOL), Rio Tinto, SDARI, U-Ming, Woodside, and DNV GL presented the results from stage one of their “Green Corridor” joint industry project (JIP), which demonstrated the commercial potential and technical feasibility of bulkers


Baltic Index Gains on Firmer Rates for Larger Vessels

© jieophoto / Adobe Stock photo

The overall index, which considers rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.37 percent, at 824 points. The capesize index was up 2 points, or 0.15 percent, at 1,381 points. "Capesize dry bulkers are continuing to see slight gains in the


Baltic Index Rises as Key Vessel Rates Firm

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on higher vessel rates across the industry. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 14 points, or 1


Newbuild Orders Drop during H1 2017

© Nightman1965 / Adobe Stock photo

Newbuild orders for tankers and bulkers have increased during the first half of 2017, though overall the number of orders placed in all vessel segments has more than halved when compared to the same period in 2015, according to VesselsValue.  


Safe Bulkers Reports 2Q Loss, Buys Newbuild

Photo: Safe Bulkers

 Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016.  The shipping company posted revenue of $35 million in the period   Net loss for the six months of 2017 was $4


Baltic Index Buoyed by Capesize, Panamax Rates

File Image (CREDIT: AdobeStock / (c)Lukasz Z))

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger rates for capesize and panamax vessels.   The overall index — which factors in rates for capesize, panamax


New Player Enters the Decommissioning Market

Executive Director of Well-Safe Solutions, Mark Patterson (Photo: Well-Safe Solutions)

A new entrant to North Sea decommissioning, Well-Safe Solutions was established by a group of oil industry stalwarts Alasdair Locke, Mark Patterson and Paul Warwick, setting out to provide a new approach to the safe and cost-efficient decommissioning of subsea wells.    






 
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