Safe Bulkers, Inc. Announces the Acquisition of a Post-Panamax Class Dry-bulk Vessel
December 14 2017 - 4:05PM
Safe Bulkers, Inc. (the Company) (NYSE:SB), an international
provider of marine dry-bulk transportation services, announced
today that it has acquired a 92,000 dwt, South Korean 2010 built,
dry-bulk, Post-Panamax class vessel at an attractive price. The
vessel is a sistership of the Company’s two existing South Korean
Post-Panamax class vessels. The acquisition was financed from cash
on hand.
Dr. Loukas Barmparis, President of the Company
commented: “In parallel with the optimization of our capital
structure our Board has decided to invest in a second hand vessel
which we believe it will be accretive to our revenues. Furthermore,
the acquisition of an additional sistership provides us with
enhanced operational flexibility and optimizes our ability to
control fleet operating expenses.”
About Safe Bulkers, Inc.The
Company is an international provider of marine dry-bulk
transportation services, transporting bulk cargoes, particularly
coal, grain and iron ore, along worldwide shipping routes for some
of the world’s largest users of marine dry-bulk transportation
services. The Company’s common stock, series B preferred stock,
series C preferred stock and series D preferred stock are listed on
the NYSE, and trade under the symbols “SB”, “SB.PR.B”, “SB.PR.C”,
and “SB.PR.D”, respectively.
Forward-Looking StatementsThis
press release contains forward-looking statements (as defined in
Section 27A of the Securities Exchange Act of 1933, as amended, and
in Section 21E of the Securities Act of 1934, as amended)
concerning future events, the Company’s growth strategy and
measures to implement such strategy, including expected vessel
acquisitions and entering into further time charters. Words such as
“expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,”
“estimates” and variations of such words and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a
number of assumptions and estimates that are inherently subject to
significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, changes in the demand
for drybulk vessels, competitive factors in the market in which the
Company operates, risks associated with operations outside the
United States and other factors listed from time to time in the
Company’s filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
For further information please
contact:
Company Contact:Dr. Loukas
BarmparisPresident Safe Bulkers, Inc.Tel.: +30 2 111 888 400+357 25
887 200E-Mail: directors@safebulkers.com
Investor Relations / Media
Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230
Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax:
(212) 661-7526E-Mail: safebulkers@capitallink.com
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From Apr 2023 to Apr 2024