Marine Drybulk Transportation Services News

The Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers Safe Bulkers has sold and leased back eight ships to refinance $105.2m in loans coming due in 2023 and 2025.The New York-listed bulker owner said that it will receive $158.3m in proceeds from the transaction.Under the arrangements, two vessels were leased back, under bareboat charter agreements, for a period of six years and six vessels were leased back under bareboat charter agreements, for a period of eight years.Four of such arrangements contemplate a purchase obligation at the end of the bareboat charter period and purchase options commencing three years following commencement of the bareboat charter period…

The international provider of marine drybulk transportation services Safe Bulkers has entered into a service agreement  with Alfa Laval for 20 scrubber units on its vessels to meet the requirements of IMO 2020.According to the shipowner, the agreement is to minimize down time, enhance regulatory compliance and safeguard scrubber performance over the life-time of the vessel.The agreement provides for a flat yearly fee, lifecycle-oriented services from the Alfa Laval PureSOx 360° Service Portfolio, including remote monitoring of scrubber performance through connectivity module, service kits, minimum inventory of genuine Alfa Laval spares parts on board and ashore for remote trouble-shooting and sensor calibration by exchange.In addition…

Monaco-headquartered provider of marine drybulk transportation services Safe Bulkers reported a net loss for the second quarter, contrary to the market’s expectations for profit.The net revenue at USD 45.5 million for Q2 was hurt by a 3% decline from the second quarter of 2018. For the second quarter, Safe Bulkers reported an adjusted loss of $0.01 per share, compared to earnings of $0.02 per share in the same period of last year.Dr. Loukas Barmparis, President of the Company, said: “In the first half of 2019 the charter market was weak. Since then the Baltic exchange Dry Index has risen to an average of 1,904 for the 3rd quarter to date and as a consequence we are now entering into charters at much higher rates.

Safe Bulkers, the provider of marine drybulk transportation services, announced that the first scrubber was successfully installed and commissioned on MV Martine, a Japanese, Post-Panamax class vessel, built in 2009.The US-listed operator of drybulk vessels for transporting bulk cargoes said that the scrubber is open loop, U-Type, Alfa Laval PureSOx and during commissioning has been tested in several loads complying comfortably with the stricter 0.1% sulfur fuel content limit applicable in Environmentally Controlled Areas (ECA).The installation of scrubber was done concurrently with ballast water treatment system during the scheduled dry-docking of the vessel…

Safe Bulkers, the provider of marine drybulk transportation services, said that it is on schedule in implementing its environmental investments installing scrubbers in approximately half of its  fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020."We also remain committed to installing ballast water treatment systems in each of our vessels," said Dr. Loukas Barmparis, President.Safe Bulkers said that its managers are certified in accordance with ISO 14001 and ISO 50001 related to environmental performance and energy efficiency, respectively."We have obtained environmental notation for 39 out of 41 of our vessels for the prevention of sea and air pollution…

Safe Bulkers has entered into a Memorandum of Agreement with an unaffiliated seller to acquire a Japanese-built, dry-bulk, Post-Panamax class, resale, newbuild vessel. The vessel is expected to be delivered within the first half of 2020.The international provider of marine drybulk transportation services said in a press release that it has the option to finance up to 50% of the purchase price of the vessel through the periodic issuance of the Company’s common stock to the seller. Any such common stock issued by the Company will be subject to a restriction on transfer for a period of six months from the date of such issuance. The cash component of the purchase price will be financed with cash on hand.Dr.

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…

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.

Safe Bulkers has agreed with Cosco Shipping Heavy Industry, a detailed schedule within 2019 for the installation of Alfa Laval PureSOx scrubbers in about half of the Company’s fleet mainly in medium size vessels, Kamsarmax to Post-Panamax class.The international provider of marine drybulk transportation services said that more specifically it will install scrubbers in five Kamsarmax class vessels, in thirteen Post-Panamax class vessels and in the recently acquired Cape-size class vessel while it maintains an option for an additional scrubber.All preparatory engineering works are in progress targeting to initiate the first installation in second quarter of 2019 and the last installation in the fourth quarter of 2019…

Safe Bulkers announced that it has acquired a 181,000 dwt, Japanese, 2009-built, dry-bulk, Capesize class vessel at an attractive price. The acquisition was financed from cash on hand.The international provider of marine dry-bulk transportation services said that following a dry docking the vessel is expected to be employed in the time charter market.As of August 13, 2018, the weighted time charter average of the Baltic Exchange Cape Index (BCI AVG5TC) was $26,059 per day. Dr. Loukas Barmparis, President of the Company commented: “While we remain focused on the optimization of our capital structure by buying back later this month a Kamsarmax class vessel under sale and lease back agreement…

Safe Bulkers, an international provider of marine drybulk transportation services, announced today that it has agreed with Erma First, a Greece based company, to install in all Company's vessels a Ballast Water Treatment System (BWTS). The Ballast Water Management (BWM) Convention was adopted by the International Maritime Organization (IMO) and entered into force on 8 September 2017. The United States Environmental Protection Agency (EPA) had adopted similar regulation for ballast water treatment effective on January 1, 2016. Both organizations have provided certain extensions for BWTS installation for various reasons including type approval.

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. The total consolidated liabilities of the Company divided by its total consolidated assets charter inclusive must not exceed 90% until and including year-end 2017 and 85% from 2018 onwards. The ratio of the Company's EBITDA(1) to its interest expense must be not less than 2.0:1 on a trailing 12 month basis, applicable from 2018 onwards. The consolidated net worth of the Company…

Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it was notified by the New York Stock Exchange (“NYSE”) that the Company has regained compliance with the NYSE’s minimum share price standard for continued listing of its common stock. On January 15, 2016, the Company announced that it had received notification from the NYSE that the trading price of the Company’s common stock, listed on the NYSE as “SB”, was not in compliance with the NYSE’s continued listing standard that requires a minimum average closing price of $1.00 per share over a period of 30 consecutive trading days.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that the Company has agreed to amend an existing loan facility secured by four vessels with an outstanding balance of US $51.8 million, delaying the balloon payment initially scheduled to be made in 2019 for 2022. * The total consolidated liabilities of the Company divided by its total consolidated assets must not exceed 85%. * The aggregate market value of the four vessels under the facility divided by the aggregate outstanding loan value must exceed 110% until year end 2017 and 120% from 2018 onwards. * The ratio of the Company’s EBITDA1 to its interest expense must be not less than 2.0:1 on a trailing 12 month basis, applicable from 2018 onwards.

Greece's Safe Bulkers, Inc. has set the price of its public offering offering of shares. The Company says it plans to use the net proceeds of the public offering to fund its newbuilding program and for other general corporate purposes, which may include repayment of indebtedness. The public offering of 2,800,000 shares of its 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series D Preferred Shares”) was priced at $25.00 per share. SafeBulkers add that the gross proceeds from the Public Offering before the underwriting discount and other offering expenses are expected to be approximately $70 million. The offering is expected to close on or about June 30, 2014, subject to customary closing conditions.

Safe Bulkers, Inc. an international provider of marine drybulk transportation services, announced today that it has been ranked and awarded the First Place in “Marine Money's 2013 annual rankings of the Publicly Traded Shipping Companies”. The award was announced at the annually held Marine Money Conference that took place in New York City on June 17-19, 2014. Marine Money has been publishing its rankings for the past 20+ years after evaluating companies from the shipping industry worldwide. The rankings are based upon a series of financial measures and ratios. The Company's common stock, series B and series C preferred stock is listed on the NYSE, where it trades under the symbols “SB”, “SB.PR.B” and “SB.PR.C”, respectively.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that the company's Board of Directors has declared a cash dividend of $0.50 per share on its 8% Series B Cumulative Redeemable Perpetual Preferred Shares for the period from October 30, 2013 to January 29, 2014. The dividend will be paid on January 30, 2014 to all Series B preferred shareholders of record as of January 24, 2014. The company has 1,600,000 Series B Preferred Shares outstanding as of today. This is the third consecutive cash dividend the Company has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on June 19, 2013.

Safe Bulkers, Inc. has declared a cash dividend of $0.26111 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares. The dividend will be paid on July 30, 2013 to all Series B preferred shareholders of record as of July 25, 2013. The Company has 1,600,000 Series B Preferred Shares outstanding as of today. This is the first cash dividend the Company has declared since the commencement of trading of its Series B Preferred Shares on the New York Stock Exchange on June 19, 2013. About Safe Bulkers, Inc.

Greece-based Safe Bulkers, Inc. commences trading of its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares on the New York Stock Exchange. The ticker symbol of the Preferred Shares is “SBPRB.” About Safe Bulkers, Inc. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of such services. The Company’s current fleet consists of 26 drybulk vessels, all built 2003 onwards, and the Company has contracted to acquire eight additional drybulk newbuild vessels to be delivered at various dates through 2015.

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 800,000 shares of its Series B Preferred Shares to Chalkoessa Maritime Inc., an entity associated with its chief executive officer, Polys Hajioannou, at the public offering price. The aggregate gross proceeds from the public offering and the private placement, before the underwriting discount and other offering expenses, were $40,000,000.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced that its public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, was priced at $25 per share. Concurrently with the public offering, the company has also sold through a private placement, 800,000 series b preferred shares to Chalkoessa Maritime Inc., an entity associated with the company’s chief executive officer, Polys Hajioannou, at the public offering price. The aggregate gross proceeds from the public offering and the private placement, before the underwriting discount and other offering expenses, are expected to be $40,000,000.

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. 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.

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and twelve month period ended December 31, 2012. The Company’s Board of Directors also declared a quarterly dividend of $0.05 per share for the fourth quarter of 2012. Net revenue for the fourth quarter of 2012 increased by 8% to $46.4 million from $42.9 million, during the same period in 2011. Net income for the fourth quarter of 2012 increased by 36% to $32.2 million from $23.6 million, during the same period in 2011. Adjusted net income1 for the fourth quarter of 2012 decreased by 15% to $20.5 million from $24.0 million, during the same period in 2011.