Safe Bulkers, owned by Poly V. Chatziioannou, remains on a profitable course, despite the drop in the freight market and the unstable economic environment. At the same time, a broad environmental program is underway, upgrading the existing fleet, as well as a shipbuilding program of 14 bulk carriers.
The company recorded revenues of 202.1 million dollars in the nine-month period, compared with 263.1 million dollars in the same period last year, and adjusted earnings amounting to 40.7 million dollars, compared with 131.5 million dollars last year.
In the third quarter, the company’s revenue totaled 64.7 million and adjusted earnings 11.1 million dollars.
A year ago revenues and profits reached 93.7 million dollars and 48.8 million dollars respectively.
“Our performance during the third quarter of 2023 was negatively affected by the uncertainty prevailing in the global economy as well as the weaker freight market,” the president of the US listed company, Loukas Barbaris, said and added:
“Our order book for newbuild more efficient ships and the environmental upgrade program of our existing fleet have been completed with orders for two double fuel (methanol) bulk carriers expected to be delivered in the fourth quarter of 2026 and the first quarter of 2027, thus marking an important step for the company towards decarbonization.”
