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Saturday, August 8, 2020

Marine Drybulk Transportation Services News

Image: Safe Bulkers

Safe Bulkers Sells, Leasebacks 8 Vessels

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…

Image: Safe Bulkers

Safe Bulkers Signs Pact with Alfa Laval

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…

Pic courtesy: Safe Bulkers

Safe Bulkers Slips to Q2 Loss

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.

Pic: Safe Bulkers

Safe Bulkers Improves Bottomline

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…

Photo: Safe Bulkers, Inc

Safe Bulkers to Amend Loan Pact with RBS

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…

Safe Bulkers Agrees to Amend Term Loan Facility

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has announced  that the company has agreed with Danish Ship Finance, to amend certain financial covenants and terms to its existing credit facility with an outstanding balance of US $40.0 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 EBITDA1 to its interest expense must be not less than 2.0:1 on a trailing 12 month basis…

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Safe Bulkers Regains Compliance with NYSE

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”…

Safe Bulkers Acquires Two New Drybulk Vessels

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it has agreed to acquire two additional newbuild drybulk Post-Panamax class vessels, each with a capacity of 95,000 deadweight tons, built by a Japanese shipyard. The first of the newbuilds is expected to be delivered during the second half of 2010 and the second is expected to be delivered during the first half of 2012. The new agreements expand the existing relationship between the company and the shipyard…

Safe Bulkers Q3 Results

Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three- and nine-month periods ended September 30, 2009. Net revenue for the third quarter of 2009 decreased by 31% to $36.9 million from $53.4 million during the same period in 2008. The company operated 13.2 vessels on average during the third quarter of 2009, earning a Time Charter Equivalent ("TCE")(1) rate of $30,113, compared to 11 vessels and a TCE rate of $52,724 during the third quarter of 2008.

Safe Bulkers Q2 2009 Results

Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced its unaudited financial results for the three and six months periods ended June 30, 2009. Net revenue for the second quarter of 2009 decreased by 14% to $44.3m from $51.4m during the same period in 2008. The company operated 13 vessels on average during the second quarter of 2009, earning a Time Charter Equivalent (TCE)(1) rate of $37,555, compared to 11 vessels and a TCE rate of $52,069 during the second quarter of 2008.