SB SAFE BULKERS, INC.
Price Chart
Executive Summary
Safe Bulkers announced the sale of two older vessels (MV Xenia, a 2006 Post-Panamax for $13.0M, and MV Pedhoulas Commander, a 2008 Kamsarmax for $14.7M) as part of fleet renewal, totaling $27.7M in gross proceeds. The divestitures align with the company's strategy to replace aging tonnage with modern, fuel-efficient newbuilds, and proceeds likely support liquidity for its 11-vessel newbuilding orderbook.
Actionable Insight
The $27.7M in gross proceeds from selling the oldest vessels is modest relative to the 11 newbuild orderbook — watch for cash deployment decisions in upcoming quarters and potential follow-on equity or debt financing to fund remaining newbuild capex. The preferred stock (SB-PD) is mainly impacted by broader credit coverage and liquidity, not by routine fleet sales of this scale.
Key Facts
- Sale of MV Xenia (2006-built Post-Panamax) for gross price of $13.0 million
- Sale of MV Pedhoulas Commander (2008-built Kamsarmax) for gross price of $14.7 million
- Total combined gross sale proceeds of $27.7 million
- Both vessels to be delivered with dry-dockings due, upon completion of current voyages
- Company has taken delivery of 13 IMO GHG Phase 3 NOx Tier III vessels since 2022
- Current orderbook includes 11 additional newbuilds
- Filing incorporated by reference into existing Form F-3 shelf registration statement
Financial Impact
Total gross proceeds of $27.7 million from two vessel sales; net proceeds after any debt repayment or transaction costs not disclosed
Risk Factors
- Gain or loss on sale of vessels is not disclosed — could result in a book loss if vessel carrying values exceed sale prices
- Proceeds are relatively small ($27.7M) compared to the cost of 11 newbuilds, so additional financing needs may arise
- Ongoing weak drybulk freight rates could pressure operating cash flow and newbuild funding
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001317861-26-000022 |
| Document: 0001317861-26-000022-index-headers.html | 0001317861-26-000022 |
| Document: 0001317861-26-000022-index.html | 0001317861-26-000022 |
| Document: 0001317861-26-000022.txt | 0001317861-26-000022 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 4, 2026
10d ago
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6-K
| $26.09 $26.00 | ▼ −0.36% | ▲ +2.21% | $6.90 (−73.55%) |
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Jun 2, 2026
12d ago
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6-K
| $25.90 $26.09 | ▲ +0.73% | ▲ +0.33% | $6.90 (−73.36%) |
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Jun 2, 2026
12d ago
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6-K
| $25.86 $25.90 | ▲ +0.15% | ▲ +0.85% | $6.90 (−73.32%) |
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Jun 2, 2026
12d ago
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6-K
| $25.86 $25.90 | ▲ +0.15% | ▲ +0.88% | $6.90 (−73.32%) |
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May 29, 2026
16d ago
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6-K
| $25.86 $25.86 | · 0.00% | ▼ −0.14% | $6.90 (−73.32%) |
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May 28, 2026
17d ago
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6-K
| $25.96 $25.86 | ▼ −0.39% | ▼ −0.64% | $6.90 (−73.42%) |
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May 27, 2026
18d ago
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6-K
| $25.96 $25.96 | ▲ +0.01% | ▼ −0.23% | $6.90 (−73.42%) |
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May 19, 2026
26d ago
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6-K
| $26.33 $26.10 | ▼ −0.87% | ▼ −1.91% | $6.90 (−73.79%) |
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May 11, 2026
4w ago
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Press Release
| $7.33 $7.33 | · 0.00% | ▼ −0.54% | $6.90 (−5.87%) |
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Apr 16, 2026
8w ago
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6-K
| $26.11 $25.84 | ▼ −1.03% | ▼ −2.25% | $6.90 (−73.57%) |
US Market Status
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