Safe Bulkers reported FY 2025 revenue of USD 288.1 million (-10.1%) and net revenue of USD 275.7 million. Net income was USD 38.6 million and operating income was USD 70.0 million, with EPS (basic and diluted) of USD 0.30. Time charter equivalent (TCE) revenue was USD 256.3 million and the TCE rate was USD 15,511 (FY 2025 vs. FY 2024: -11.9%). Net cash provided by operating activities was USD 102.3 million, while cash and cash equivalents rose to USD 141.6 million as of Dec. 31, 2025. For FY 2025, voyage expenses were USD 19.5 million (+16.3%), which the company attributed mainly to increased bunker consumption costs for scrubber-fitted vessels under charter agreements with variable consideration. Vessel operating expenses were USD 97.3 million (+5.1%), and general and administrative expenses were USD 29.9 million (+10.4%), reflecting higher management fees denominated in euros amid a stronger EUR/USD exchange rate. The company recorded a gain on sale of assets of USD 4.6 million, following the sale of two vessels during 2025, and said it acquired the newbuild Kamsarmax vessel Efrossini. Safe Bulkers ended 2025 with liquidity of USD 382.3 million as of Dec. 31, 2025, including USD 162.8 million in cash, cash equivalents, bank time deposits and restricted cash, and USD 219.5 million available under revolving credit facilities. The company said it had an existing fleet of 45 vessels and six newbuild vessels in its orderbook as of Dec. 31, 2025, and reported contracted revenue of about USD 164.2 million (net of commissions) from non-cancellable spot and period time charter contracts as of that date. It declared cash dividends of USD 0.20 per common share for FY 2025, and said it remained in compliance with all debt covenants as of Dec. 31, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Safe Bulkers Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-014408), on March 04, 2026, and is solely responsible for the information contained therein.