Safe Bulkers Inc

Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, operating a fleet of 46 vessels (including two held for sale) consisting of Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels with a total carrying capacity of 4.5 million deadweight tons and an average fleet age of 10.4 years. The company transports bulk cargoes — particularly coal, grain, and iron ore — along worldwide shipping routes for some of the world's largest consumers of marine drybulk transportation. Safe Bulkers employs its vessels under both period time charters (providing stable cash flows) and spot time charters (offering upside potential in strong markets). The company is actively pursuing fleet renewal by ordering newbuilds with advanced energy efficiency characteristics designed to meet IMO GHG Phase 3 and NOx Tier III emission regulations, while selectively selling older tonnage. As of mid-2026, the company has an orderbook of 10 newbuilds scheduled for delivery through 2029. Twenty vessels are equipped with exhaust gas cleaning systems (scrubbers), which generate additional earnings under charter agreements with variable consideration based on bunker consumption. The company's common stock is dual-listed on the NYSE and Euronext Athens, and it also has Series C and Series D preferred shares listed on the NYSE. Updated Jul 29, 2026