Safe Bulkers Sells Two Bulk Carriers for $27.4 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 18 2026
0mins
Safe Bulkers announced that it has entered into agreements for the sale of two vessels: MV Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of $13M, and MV Pedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of $14.7M. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages.
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About SB
Safe Bulkers, Inc. is a holding company. The Company's principal business is the acquisition, ownership and operation of drybulk vessels. The Company's vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world. As of February 17, 2017 the Company's fleet included 38 vessels, of which 14 are Panamax class vessels, nine are Kamsarmax class vessels, 12 are Post-Panamax class vessels and three are Capesize class vessels, with an aggregate carrying capacity of 3,421,800 deadweight tonnage (dwt). The Company's fleet of Post-Panamax vessels includes Marina, Xenia, Sophia, Eleni, Martine, Andreas K, Panayiota K, Venus Heritage, Venus History, Venus Horizon and Troodos Sun. Its fleet of Capesize vessels includes Kanaris, Pelopidas and Lake Despina.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Safe Bulkers Releases 2025 Sustainability Report
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- Environmental Commitment: President Dr. Loukas Barmparis emphasized that the report provides a comprehensive overview of the company's efforts in managing environmental risks, supporting the communities in which it operates, and strengthening its governance framework to meet evolving regulatory requirements and stakeholder expectations.
- Transportation Services: Safe Bulkers is an international provider of marine drybulk transportation services, primarily transporting coal, grain, and iron ore, serving some of the world's largest users of drybulk transportation, highlighting its significant role in the global shipping market.
- Stock Information: The company's common stock and preferred stocks are listed on the NYSE under the symbols 'SB', 'SB.PR.C', and 'SB.PR.D', reflecting its active presence in the capital markets and investor interest.
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- Stock Information Transparency: The common stock, with a par value of $0.001 per share, will not involve the issuance of additional shares, ensuring that existing shareholders' interests remain unaffected while enhancing the company's transparency in capital markets.
- Market Impact Assessment: While primarily listed on the NYSE, the trading on Euronext Athens is expected to provide a broader investor base, potentially increasing market liquidity and brand visibility for the company.
- Future Outlook: The board approved this listing on April 1, 2026, which is anticipated to lay the groundwork for future business growth and market expansion, particularly in capturing potential opportunities in the European market.
See More
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- Legal Compliance Support: The company is advised by Piraeus Bank S.A. for listing services, with Potamitis Vekris Law Firm and White & Case LLP serving as legal counsel for Greek law and global matters, ensuring compliance and legal support.
- Future Outlook: The company expects to announce the trading commencement date following the approval of the prospectus by the Hellenic Capital Markets Commission, which will provide new opportunities for its stock circulation in European markets.
- Market Impact: This dual listing will enhance Safe Bulkers' competitiveness in the global dry bulk transportation market, attracting more investor attention to its stock and promoting long-term growth for the company.
See More
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- Capital Reinvestment: The sales will provide capital for the company to reinvest in more fuel-efficient ships, thereby improving long-term operational efficiency and enhancing market competitiveness.
- Ongoing New Ship Deliveries: Since 2022, Safe Bulkers has taken delivery of 13 new IMO-compliant vessels and has 11 more on order, demonstrating the company's commitment to continuous fleet upgrades.
- Future Expansion Plans: The company aims to expand its fleet to 38 Phase 3 vessels by Q1 2029 while maintaining $382 million in liquidity to support future growth and operational needs.
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- Executive Changes: Inspired Entertainment's CFO James Richardson stepped down effective May 14, with the board promoting Craig Wilson from Vice President of Finance and Accounting to Executive Vice President and CFO, a change that may influence the company's financial strategy and operational efficiency.
- Vessel Sale Announcement: Safe Bulkers announced the sale of two older vessels, MV Xenia for $13 million and MV Pedhoulas Commander for $14.7 million, as part of its fleet renewal plan aimed at enhancing operational efficiency and market competitiveness.
See More
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See More
Safe Bulkers Releases 2025 Sustainability Report
- Report Release: Safe Bulkers, Inc. announced that its 2025 Sustainability Report is now available for download, prepared in accordance with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) guidelines, showcasing the company's commitment to environmental, social, and governance (ESG) initiatives.
- Environmental Commitment: President Dr. Loukas Barmparis emphasized that the report provides a comprehensive overview of the company's efforts in managing environmental risks, supporting the communities in which it operates, and strengthening its governance framework to meet evolving regulatory requirements and stakeholder expectations.
- Transportation Services: Safe Bulkers is an international provider of marine drybulk transportation services, primarily transporting coal, grain, and iron ore, serving some of the world's largest users of drybulk transportation, highlighting its significant role in the global shipping market.
- Stock Information: The company's common stock and preferred stocks are listed on the NYSE under the symbols 'SB', 'SB.PR.C', and 'SB.PR.D', reflecting its active presence in the capital markets and investor interest.
See More
Safe Bulkers Successfully Lists on Euronext Athens
- Dual Listing Approval: Safe Bulkers received approval for a dual listing on Euronext Athens on May 26, 2026, with all 101,826,580 shares expected to commence trading on June 2, 2026, marking a significant expansion in the company's international presence.
- Stock Information Transparency: The common stock, with a par value of $0.001 per share, will not involve the issuance of additional shares, ensuring that existing shareholders' interests remain unaffected while enhancing the company's transparency in capital markets.
- Market Impact Assessment: While primarily listed on the NYSE, the trading on Euronext Athens is expected to provide a broader investor base, potentially increasing market liquidity and brand visibility for the company.
- Future Outlook: The board approved this listing on April 1, 2026, which is anticipated to lay the groundwork for future business growth and market expansion, particularly in capturing potential opportunities in the European market.
See More
Safe Bulkers Confirms Dual Listing Plans on Euronext Athens
- Dual Listing Confirmation: Safe Bulkers, Inc. has confirmed its dual listing on Euronext Athens, meeting all listing requirements, which signifies the company's further expansion into international markets.
- Legal Compliance Support: The company is advised by Piraeus Bank S.A. for listing services, with Potamitis Vekris Law Firm and White & Case LLP serving as legal counsel for Greek law and global matters, ensuring compliance and legal support.
- Future Outlook: The company expects to announce the trading commencement date following the approval of the prospectus by the Hellenic Capital Markets Commission, which will provide new opportunities for its stock circulation in European markets.
- Market Impact: This dual listing will enhance Safe Bulkers' competitiveness in the global dry bulk transportation market, attracting more investor attention to its stock and promoting long-term growth for the company.
See More
Safe Bulkers Sells Two Older Vessels for Fleet Renewal
- Fleet Renewal Strategy: Safe Bulkers announced the sale of MV Xenia and MV Pedhoulas Commander for $13 million and $14.7 million respectively, reflecting the company's strategy to replace older vessels with modern ones.
- Capital Reinvestment: The sales will provide capital for the company to reinvest in more fuel-efficient ships, thereby improving long-term operational efficiency and enhancing market competitiveness.
- Ongoing New Ship Deliveries: Since 2022, Safe Bulkers has taken delivery of 13 new IMO-compliant vessels and has 11 more on order, demonstrating the company's commitment to continuous fleet upgrades.
- Future Expansion Plans: The company aims to expand its fleet to 38 Phase 3 vessels by Q1 2029 while maintaining $382 million in liquidity to support future growth and operational needs.
See More
Wall Street Major Averages Mixed as Investors Await Earnings Reports
- Mixed Market Performance: Wall Street's major indices closed mixed on Monday, with the Dow up 0.3%, the S&P 500 down 0.1%, and the Nasdaq Composite down 0.5%, reflecting cautious investor sentiment ahead of Nvidia and retail earnings reports.
- Akamai Stock Movement: Akamai Technologies saw its shares decline in after-hours trading following its proposal to offer $2.6 billion in convertible senior notes, a move that could dilute existing shareholders and impact market expectations for future growth.
- Executive Changes: Inspired Entertainment's CFO James Richardson stepped down effective May 14, with the board promoting Craig Wilson from Vice President of Finance and Accounting to Executive Vice President and CFO, a change that may influence the company's financial strategy and operational efficiency.
- Vessel Sale Announcement: Safe Bulkers announced the sale of two older vessels, MV Xenia for $13 million and MV Pedhoulas Commander for $14.7 million, as part of its fleet renewal plan aimed at enhancing operational efficiency and market competitiveness.
See More
Dry Bulk Shipping Rates Surge to Four-Month High Driven by Capesize Demand
- Rate Surge: Dry bulk shipping rates have surged to a four-month high due to a sharp increase in demand for larger vessels, particularly Capesize ships, with the Baltic Dry Index rising 5% to its highest level since early December, indicating robust demand for iron ore and coal.
- Market Trend: The Baltic Dry Index has now extended its winning streak to nine consecutive sessions, reflecting a sustained positive market sentiment, although the contributions from Panamax and Supramax segments were more moderate, underscoring the concentration of the current rally in iron ore-linked trade flows.
- Stock Performance: Quant ratings for dry bulk shipping stocks reveal a lack of confidence, with Seanergy Maritime (SHIP) and Diana Shipping (DSX) rated at -4.93 and -4.90 respectively, despite the potential optimism brought by rising freight rates.
- Acquisition Dynamics: Diana Shipping has decided to take its stalled acquisition talks with Genco Shipping to shareholders after months of inactivity, indicating a proactive stance in market consolidation that could influence future market dynamics.
See More
