MONACO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider
of marine dry-bulk transportation services, announced today that it has acquired a 181,000 dwt, Japanese, 2009-built, dry-bulk,
Capesize class vessel at an attractive price. The acquisition was financed from cash on hand. Following a dry docking the vessel is
expected to be employed in the time charter market. As of August 13, 2018, the weighted time charter average of the Baltic Exchange
Cape Index (BCI AVG5TC) was $26,059 per day.
Dr. Loukas Barmparis, President of the Company commented: “While we remain focused on the optimization of our
capital structure by buying back later this month a Kamsarmax class vessel under sale and lease back agreement, our Board has
decided to invest opportunistically in a second-hand Capesize class vessel, the second acquisition since December 2017, which we
believe will be accretive to our revenues and further expand our fleet and our operations in the Capesize market.”
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal,
grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation
services. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under
the symbols “SB”, “SB.PR.C” and “SB.PR.D” respectively.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Exchange Act of
1933, as amended, and in the Section 21E of the Securities Act of 1934, as amended) concerning future events, the Company’s growth
strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters.
Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates” and variations of such words and
similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are
inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual
results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to, changes in the demand for drybulk vessels, competitive factors in the
market in which the Company operates, risks associated with operations outside the United States and other factors listed from time
to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or
undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in the
Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is
based.
For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
+357 25 887 200
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com
