rss icon Subscribe
desktop mobile

Safe Bulkers 4Q Net Revenues Up by 34%

Image: Safe Bulkers

By Aiswarya Lakshmi

Safe Bulkers reported fourth-quarter of 2017 revenues of $2.9 million $42.4 million increased by 34% from $31.7 million during the same period in 2016.

Net loss for the fourth quarter of 2017 was $86.6 million as compared to $4.6 million, during the same period in 2016.
For the year, the company reported that its loss widened to $84.7 million, or 98 cents per share. Revenue was reported as $148 million.
In December 2017, the Company took delivery of Agios Spyridonas, a second-hand, 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel, sistership of its two existing Post-Panamax class vessels, at an attractive price. The acquisition was financed from cash on hand.
As of February 9, 2018, our operational fleet comprised of 39 drybulk vessels with an average age of 7.6 years and an aggregate carrying capacity of 3.5 million dwt.
"Our fleet consists of 14 Panamax class vessels, 9 Kamsarmax class vessels, 13 post- Panamax class vessels and 3 Capesize class vessels, all built 2003 onwards. Upon delivery of our last contracted drybulk newbuild Kamsarmax class vessel, scheduled for 2018, and assuming no additional vessel acquisitions or disposals, our fleet will comprise of 40 vessels, 11 of which will be eco-design vessels, with an aggregate carrying capacity of 3.6 million dwt," said a statement from the company.

Feb 14, 2018

 

Bulk Carrier Trends

Dry Bulk Market Looks Up: J. Lauritzen

Lauritzen Bulkers. Photo:  J. Lauritzen

Both the dry bulk market and the market for small gas carriers are anticipated to benefit from

US Pushes More Sanctions Targeting N.Korea Maritime Smuggling

U.S. Ambassador to the United Nations Nikki Haley (File photo: US Mission to the United Nations)

The United States proposed a list of entities on Friday to be blacklisted under United Nations

Baltic Index Records Best Week in 3 Months

© Unkas Photo / Adobe Stock

The Baltic Exchange's main sea freight index hit its highest in more than three weeks and recorded

Finance

All Aboard for Hedge Funds as Trade Tide Lifts Shipping

© leeyiutung / Adobe Stock

Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing

U.S. Sues to Stop Wilhelmsen From Buying Rival Drew Marine

The U.S. Federal Trade Commission said on Friday it would challenge in court the Norwegian company Wilhelmsen Maritime Services' plan to buy smaller U.S. rival Drew Marine Group.

AP Moller-Maersk Planning Roadshow ahead of Euro Benchmark

File Image: A Maersk boxship alongside and working cargo. CREDIT: HR Wallingford

A.P. Møller - Mærsk A/S rated Baa2/BBB (on review for possible downgrade/CreditWatch negative) by

Maritime Apps