Safe Bulkers Sells Two Older Vessels for Fleet Renewal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 18 2026
0mins
Source: seekingalpha
- 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.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy SB?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on SB
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 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
Q1 2026 Shipping Insights Report Released
- Industry Insights Released: Capital Link's Q1 2026 Shipping Insights report compiles exclusive discussions with executives from container, dry bulk, LNG, LPG, and tanker sectors, offering in-depth analysis of critical industry themes to help investors navigate market dynamics.
- Regulatory and Decarbonization Focus: The report emphasizes regulatory updates and decarbonization efforts, reflecting the industry's proactive stance in addressing environmental challenges, which is expected to drive investments and strategic adjustments in sustainability among related companies.
- Global Trade Trends: As the maritime industry enters Q2 2026, the report analyzes global trade trends and their impact on the shipping market, highlighting the importance of capital allocation strategies for companies to enhance shareholder value.
- Executive Insights Shared: The report features insights from executives of prominent companies, including leaders in international shipping and energy transportation, providing forward-looking perspectives on future market directions to assist investors in making informed decisions.
See More
Q1 2026 Shipping Insights Released
- Industry Insights Released: Capital Link's Q1 2026 Shipping Insights report compiles exclusive discussions with executives from the container, dry bulk, LNG, LPG, and tanker sectors, offering in-depth analysis of key industry themes to help investors navigate market dynamics.
- Regulatory and Decarbonization Focus: The report emphasizes regulatory updates and decarbonization efforts, reflecting the industry's proactive stance in addressing environmental challenges, which is expected to drive investments and strategic adjustments in sustainability among related companies.
- Global Trade Trends: As the shipping industry enters Q2 2026, the report analyzes global trade trends and their impact on capital allocation strategies, highlighting companies' efforts to enhance shareholder value, which may influence investor decisions.
- Executive Insights: The report features insights from executives of notable companies, including International Seaways, MPC Container Ships, and Scorpio Tankers, providing forward-looking perspectives on future market directions to assist investors in evaluating potential investment opportunities.
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
Q1 2026 Shipping Insights Report Released
- Industry Insights Released: Capital Link's Q1 2026 Shipping Insights report compiles exclusive discussions with executives from container, dry bulk, LNG, LPG, and tanker sectors, offering in-depth analysis of critical industry themes to help investors navigate market dynamics.
- Regulatory and Decarbonization Focus: The report emphasizes regulatory updates and decarbonization efforts, reflecting the industry's proactive stance in addressing environmental challenges, which is expected to drive investments and strategic adjustments in sustainability among related companies.
- Global Trade Trends: As the maritime industry enters Q2 2026, the report analyzes global trade trends and their impact on the shipping market, highlighting the importance of capital allocation strategies for companies to enhance shareholder value.
- Executive Insights Shared: The report features insights from executives of prominent companies, including leaders in international shipping and energy transportation, providing forward-looking perspectives on future market directions to assist investors in making informed decisions.
See More
Q1 2026 Shipping Insights Released
- Industry Insights Released: Capital Link's Q1 2026 Shipping Insights report compiles exclusive discussions with executives from the container, dry bulk, LNG, LPG, and tanker sectors, offering in-depth analysis of key industry themes to help investors navigate market dynamics.
- Regulatory and Decarbonization Focus: The report emphasizes regulatory updates and decarbonization efforts, reflecting the industry's proactive stance in addressing environmental challenges, which is expected to drive investments and strategic adjustments in sustainability among related companies.
- Global Trade Trends: As the shipping industry enters Q2 2026, the report analyzes global trade trends and their impact on capital allocation strategies, highlighting companies' efforts to enhance shareholder value, which may influence investor decisions.
- Executive Insights: The report features insights from executives of notable companies, including International Seaways, MPC Container Ships, and Scorpio Tankers, providing forward-looking perspectives on future market directions to assist investors in evaluating potential investment opportunities.
See More
