Q3 2025 Safe Bulkers Inc Earnings Call Transcript
Key Points
- Safe Bulkers Inc (SB) declared a dividend of $0.05 per share, marking the 16th consecutive quarterly dividend, which represents a 4.1% dividend yield.
- The company maintains a strong capital structure with $390 million in liquidity and a comfortable leverage of about 35%.
- Safe Bulkers Inc (SB) has a young fleet with an average age of 10.1 years, which is 2.5 years younger than the global average.
- The company has a significant order book of six newbuilds, mainly in Japanese shipyards, which will enhance its fleet's fuel efficiency.
- Safe Bulkers Inc (SB) has achieved zero vessels in D and E carbon intensity CII rating of IMO for 2024, reflecting its commitment to environmental sustainability.
- The company operated in a weaker charter market environment during the third quarter of 2025, leading to decreased revenues.
- Adjusted EBITDA for the third quarter of 2025 decreased to $36.1 million from $41.3 million in the same period in 2024.
- Adjusted earnings per share for the third quarter of 2025 fell to $0.12 from $0.16 in the same period last year.
- The average time charter equivalent rate decreased to $15,507 in the third quarter of 2025 from $17,108 in the same period in 2024.
- The global dry bulk demand growth is forecasted to be modest, with only 2% growth in 2026 and 1.5% in 2027, posing a challenge for demand growth.
Thank you for standing by, ladies and gentlemen. Welcome to Safe Bulker's conference call on the third-quarter 2025 financial results. We have with us today Mr. Polys Hajioannou, Chairman and Chief Executive Officer; Dr. Loukas Barmparis, President; and Mr. Konstantinos Adamopoulos, Chief Financial Officer of the company. (Operator Instructions) I must advise you that this conference is being recorded today. The archived webcast of the conference call will soon be available on the Safe Bulkers website, www.safebulkers.com.
Many of the remarks today contain forward-looking statements based on current expectations. Actual results may differ materially from the results projected from those forward-looking statements. Additional information concerning factors that can cause actual results to differ materially from those in the forward-looking statements is contained in the third-quarter 2025 earnings release, which is available on the Safe Bulkers website, again, www
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