Safe Bulkers Inc ( (SB) ) has released its Q2 earnings. Here is a breakdown of the information Safe Bulkers Inc presented to its investors.
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Safe Bulkers Inc., a company specializing in marine drybulk transportation services, operates within the international shipping industry, focusing on transporting bulk cargoes such as coal, grain, and iron ore. The company is known for its commitment to fleet renewal and environmental sustainability.
In its latest earnings report for the second quarter of 2025, Safe Bulkers Inc. announced a net income of $1.7 million, a significant drop from $27.6 million in the same period the previous year. The company also declared a cash dividend of $0.05 per share of common stock, reflecting its ongoing commitment to shareholder returns despite challenging market conditions.
Key financial metrics revealed a decrease in net revenues to $65.7 million, down from $78.5 million in Q2 2024, primarily due to lower charter hires and reduced earnings from scrubber-fitted vessels. The company also reported increased vessel operating expenses, which rose by 9% to $28.1 million, driven by higher costs for spare parts and crew wages. Additionally, Safe Bulkers Inc. continued its fleet renewal strategy, with the sale of an older vessel and the delivery of newbuilds designed to meet stringent environmental regulations.
Strategically, the company secured new credit facilities, including a $75 million sustainability-linked revolving credit facility, aligning its financing with corporate sustainability goals. Safe Bulkers Inc. also continued its environmental upgrade program, enhancing energy efficiency and reducing greenhouse gas emissions across its fleet.
Looking ahead, Safe Bulkers Inc. remains focused on maintaining strong liquidity and comfortable leverage while navigating a softer market environment. The company aims to continue its fleet renewal efforts and capitalize on potential market improvements, ensuring long-term value creation for its shareholders.