Aria, clima, elettrificazione, acque e biodiversità. 38832 articoli raccolti da fonti istituzionali e specializzate, classificati per area ambientale e linkati al porto di riferimento.
Aeroporti europei, Transport & Environment: "Piani di espansione incompatibili con obiettivi climatici" Informazioni Marittime
La principale organizzazione europea in materia di decarbonizzazione dei trasporti avverte che i progetti di venti città del vecchio continente potrebbero aggravare il problema delle emissioni nocive I progetti di espansione di venti dei maggiori scali europei sono incompatibili con gli obiettivi climatici nazionali e con i limiti di emissione imposti dal riscaldamento globale. La criticità emerge da unanuova ricercadiTransport & Environment (T&E), la principale organizzazione europea in materia di decarbonizzazione dei trasporti. Con l'ampliamento degli scali il budget di carbonio superato da 2 a 3 volte. Secondo lo studio, gli ampliamenti di 20 aeroporti in dieci Paesi europei - Regno Unito, Irlanda Francia, Germania, Olanda, Belgio, Spagna, Portogallo, Austria e Svizzera - porteranno ciascuno di questi scali a superare da due a tre volte il proprio budget di emissioni di carbonio compatibile con l'obiettivo di contenere l'aumento delle temperature medie globali entro 1,7 °C. Infatti, sulla base degli attuali piani di crescita, il settore dell'aviazione europeo esaurirà quest'anno il budget di emissioni di carbonio residuo previsto per l'obiettivo di 1,5 °C; ed esaurirà quello per l'obiettivo di 1,7 °C entro il 2033. I SAF (Sustainable Aviation Fuel, carburante sostenibile per l'aviazione) non bastano per restare nel carbon budget. Nelle grandi città europee, tra cui Londra, Parigi, Madrid, Lisbona, Dublino, Francoforte e Bruxelles, sono in corso, o sono stati annunciati, importanti progetti di ampliamento aeroportuale. Compagnie aeree e aeroporti assicurano ai governi di poter intensificare i flussi e trasportare un maggior numero di passeggeri pur rispettando gli obiettivi climatici europei, con la promessa che carburanti più puliti e aeromobili più efficienti consentiranno di ridurre le emissioni in misura sufficiente. Tuttavia, l'analisi di T&E dimostra che ogni aeroporto supererà il proprio carbon budget, anche tenendo conto dell'adozione di carburanti sostenibili per l'aviazione e di aeromobili più efficienti. T&E raccomanda tre azioni:- I governi dovrebbero bloccare o rifiutare gli ampliamenti aeroportuali, laddove superino i carbon budget, e fissare per ogni aeroporto bilanci climatici compatibili con l'Accordo di Parigi;- I responsabili politici dovrebbero porre fine alle esenzioni fiscali nel settore del trasporto aereo, e gestire responsabilmente la domanda: tassando adeguatamente il carburante per aerei, applicando l'IVA ai biglietti e includendo tutti i voli internazionali nel sistema ETS; e allineando la capacità degli slot aeroportuali ai limiti emissivi previsti, nonché limitando i voli più inquinanti con scarso valore sociale;- I governi dovrebbero reindirizzare i fondi pubblici, compresi quelli provenienti dalla Banca europea per gli investimenti e dagli aiuti di Stato, sottraendoli all'aumento della capacità aeroportuale e destinandoli ad alternative di mobilità pulite. 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Aeroporti, i progetti espansivi di 20 scali dell’UE superano di tre volte le emissioni compatibili la Repubblica
ROMA – I progetti di espansione di 20 dei maggiori scali aerei europei risultano incompatibili con gli obiettivi climatici nazionali e con i limiti di emissione imposti dal riscaldamento globale. Ecco cosa emerge da una nuova ricerca di Transport & Environment (T&E), la principale organizzazione europea in materia di decarbonizzazione dei trasporti.
Con l’ampliamento degli scali il carbonio sarà superato da 2 a 3 volte. Secondo lo studio, gli ampliamenti di 20 aeroporti in dieci Paesi europei - Regno Unito, Irlanda Francia, Germania, Olanda, Belgio, Spagna, Portogallo, Austria e Svizzera - porteranno ciascuno di questi scali a superare da due a tre volte il proprio budget di emissioni di carbonio compatibile con l’obiettivo di contenere l’aumento delle temperature medie globali entro 1,7 °C. Sulla base degli attuali piani di crescita, infatti, il settore dell’aviazione europeo esaurirà quest’anno il budget di emissioni di carbonio residuo previsto per l’obiettivo di 1,5 °C; ed esaurirà quello per l’obiettivo di 1,7 °C entro il 2033.
Gli effetti della carbonizzazione persistente sulle popolazioni povere. Il paradosso sta nel fatto che l’uso dei fossili, come il carbone minerale, crei una oggettiva dipendenza tra le popolazioni più povere del Pianeta al punto da creare un circolo vizioso, una vera trappola, che danneggia gravemente la loro salute, l'ambiente nel quale vivono e le loro economie già precarie. Nei Paesi a basso reddito, il carbone rappresenta spesso l'unica fonte di energia accessibile e a basso costo. Ma i costi umani e sociali di questa assuefazione sono altissimi.I principali danni si dividono in quattro macro-aree:
Danni alla salute e mortalità precoce.
- L'uso domestico di carbone vegetale e legna in stufe inefficienti provoca un inquinamento domestico dell'aria .
- Malattie respiratorie croniche: L'inalazione costante di fumo e polveri sottili causa polmoniti, bronchiti croniche, malattie cardiache e tumori polmonari.
- Impatto sproporzionato su donne e bambini: secondo dati dell'Organizzazione Mondiale della Sanità (OMS), l'inquinamento domestico causa milioni di morti premature ogni anno nel mondo. Le donne e i bambini piccoli sono i più colpiti perché trascorrono più tempo vicino ai fuochi domestici.
Il paradosso economico e climatico. I Paesi poveri – lo si è scritto e detto tante volte – subiscono i danni peggiori pur avendo contribuito pochissimo alle emissioni globali. Le malattie causate dal fumo passivo domestico riducono la capacità lavorativa degli adulti (specialmente delle donne) e prosciugano le risorse economiche familiari per affrontare le cure. E poi c’è da considerare l’estrema vulnerabilità rispetto ai disastri climatici. La carbonizzazione globale contribuisce al cambiamento delle condizioni atmosferiche e alimenta eventi meteorologici estremi. Di fronte a questo, le popolazioni povere non hanno le risorse, né economiche né strutturali per proteggersi dalla siccità estrema, dalle alluvioni, dalle carestie provocate dal clima.
I progetti di espansione in 7 grandi città europee. I SAF – i carburanti sostenibili per il trasporto aereo – non bastano per restare nei limiti sopportabili. Nelle grandi città europee, tra cui Londra, Parigi, Madrid, Lisbona, Dublino, Francoforte e Bruxelles, sono in corso, o sono stati annunciati, importanti progetti di ampliamento aeroportuale.
Le rassicurazioni delle Compagnie e i dubbi nell’analisi di T&E. Le compagnie aeree e gli enti che gestiscono gli aeroporti, tuttavia, assicurano ai governi di poter intensificare i flussi e trasportare un maggior numero di passeggeri pur rispettando gli obiettivi climatici europei, con la promessa che carburanti più puliti e aeromobili più efficienti consentiranno di ridurre le emissioni in misura sufficiente. Tuttavia, l’analisi di T&E dimostra che ogni aeroporto supererà il proprio livello di carbonio, anche tenendo conto dell’adozione di carburanti sostenibili per l’aviazione (SAF) e di aeromobili più efficienti.
Le scelte nette che i governi dovrebbero fare. Dice Andrea Boraschi, direttore dell’ufficio italiano di T&E: “I governi possono scegliere di non esasperare il cambiamento climatico. L’aumento del volume di traffico aereo che si avrà costruendo nuove piste e ampliando i terminal annullerà qualsiasi beneficio derivante da carburanti più puliti o motori più efficienti. Dopo il caldo torrido, gli incendi e la siccità di quest’estate – ha aggiunto – i governi si trovano di fronte a una scelta netta: possono aggravare la situazione, approvando espansioni aeroportuali dannose, oppure agire con decisione e fermarle subito”.
Gli aeroporti peggiori d’Europa per l’ambiente.
Lisbona e Porto.Negli attuali piani di espansione aeroportuale del Portogallo, si registrano gli scali di Lisbona e Porto, con uno sforamento di 2,8 volte il budget di carbonio. Insieme i due aeroporti rappresentano circa l’80% delle emissioni del settore del trasporto aereo portoghese, ma dovrebbero al contrario ridurre le emissioni del 12% ogni anno.
Dublino. Con un fattore di 2,6 volte i livelli tollerabili. Sonomilioni di tonnellate di CO₂ all'anno , un quantitativo equivalente alle emissioni prodotte in un anno da 1,4 milioni di automobili.
Gli aeroporti spagnoli. Portano la maglia nera per emissioni e crescono più velocemente che nel resto d’Europa. Le emissioni del settore aereo in Spagna stanno crescendo più rapidamente che in qualsiasi altro grande Paese europeo. Ciononostante, il Paese sta cercando di ampliare contemporaneamente 12 dei suoi aeroporti più trafficati, tra cui Madrid, Barcellona, Palma e Malaga. Questi quattro aeroporti rappresentavano i due terzi (66%) delle emissioni in partenza dalla Spagna nel 2025.
Ma esistono Paesi virtuosi. Un recente studio condotto da T&E e dalla New Economics Foundation ha rilevato che, nella maggior parte dell’Europa occidentale, le ragioni economiche a favore dell’espansione degli aeroporti non sono più fondate. Nel frattempo, le esenzioni fiscali concesse al settore del trasporto aereo ne stanno accelerando la crescita: carburante non tassato, biglietti esenti da IVA e voli che sono coperti solo marginalmente dai mercati europei delle emissioni di carbonio.
Gli esempi di Regno Unito e Francia. I governi non hanno bisogno di inventare nuovi quadri normativi per affrontare queste sfide. Gli esempi del Regno Unito e della Francia dimostrano che bilanci emissivi nazionali e roadmap di decarbonizzazione, per il settore aereo, sono possibili; i Paesi Bassi, altresì, hanno definito limiti emissivi vincolanti a livello dei singoli aeroporti.
E-Fuel Bunkering Skid Market Outlook 2026-2030 Featuring Profiles of Chart Industries, Nikkiso and Wärtsilä - Market to Reach $3.02 Billion by 2030 as Maritime Decarbonization Accelerates Yahoo Finance UK
Green shipping and industrial decarbonization are driving demand for modular, portable e-fuel skids with automated metering, monitoring and advanced safety systems. E-Fuel Bunkering Skid Market Dublin, Sept. 03, 2026(GLOBE NEWSWIRE)-- The"E-Fuel Bunkering Skid Market Global Report 2026"has been added toResearchAndMarkets.com'soffering. The global e-fuel bunkering skid market is experiencing rapid expansion as ports, shipping operators and fuel suppliers invest in infrastructure for low-carbon marine fuels. The market is projected to grow from $1.19 billion in 2025 to $1.43 billion in 2026, representing a compound annual growth rate (CAGR) of 20.3%. Historical growth has been supported by maritime emissions reduction initiatives, increased adoption of alternative marine fuels and the expansion of port fuel-handling infrastructure. Investment in synthetic fuel production facilities has also increased demand for systems that can support the safe storage, metering and transfer of next-generation fuels. The e-fuel bunkering skid market is forecast to reach $3.02 billion by 2030, expanding at a CAGR of 20.5%. Growth during the forecast period is expected to be driven by the commercialization of e-fuels across transportation sectors, the development of green shipping corridors and rising demand for automated bunkering systems. Government incentives for low-carbon fuel infrastructure and broader industrial decarbonization programs are also expected to strengthen market opportunities. Key e-fuel bunkering skid market trends include the deployment of modular infrastructure at ports and industrial hubs, as well as growing adoption of synthetic methanol and e-diesel fueling systems. Investment is increasing in standardized, scalable fuel-transfer solutions that can accommodate emerging operational requirements. Automated monitoring, integrated safety technology and portable or containerized fueling systems are also gaining importance, particularly for remote locations and projects requiring flexible deployment. Rising investment in green hydrogen and power-to-fuel projects is a major factor supporting market growth. Government decarbonization policies and net-zero targets are improving the commercial viability of clean hydrogen and synthetic fuel value chains. E-fuel bunkering skids enable these projects to move into operation by providing accurate metering, controlled fuel transfer and enhanced safety at ports and refueling facilities. According to the Hydrogen Council, committed investment in clean hydrogen projects reached $110 billion across 510 projects in 2025. This represented an increase of $35 billion compared with 2024. Continued capital deployment across clean fuel production and distribution networks is expected to create additional demand for reliable e-fuel bunkering infrastructure. Industrial decarbonization initiatives are also accelerating adoption. Stricter carbon emissions regulations are encouraging energy-intensive industries and maritime operators to implement cleaner technologies, improve regulatory compliance and reduce exposure to penalties. As shipping companies transition to low-carbon and zero-carbon fuels, demand is increasing for bunkering skid systems that can deliver synthetic fuels to vessels safely, efficiently and in accordance with evolving standards. The International Maritime Organization's greenhouse gas strategy includes checkpoints toward achieving net-zero emissions from international shipping. The strategy targets a reduction of at least 20% by 2030 while striving for 30%, followed by further progress by 2040. These objectives are expected to encourage investment in alternative-fuel vessels, port upgrades and compliant e-fuel transfer infrastructure. Product innovation is increasingly focused on cryogenic and pressurized fuel-handling capabilities that improve operational safety and efficiency for LNG and ammonia bunkering. In March 2025, Anglo-Eastern launched an LNG and ammonia bunkering station skid intended to address critical safety and operational challenges associated with alternative-fuel vessels. The modular training system incorporates cryogenic fuel-transfer technology, integrated safety controls, real-time monitoring and emergency-response simulations. It is designed to strengthen crew readiness, regulatory compliance and practical expertise in LNG and ammonia fueling procedures. Europe was the largest region in the e-fuel bunkering skid market in 2025, while Asia-Pacific is expected to record the fastest growth during the forecast period. The market report covers Asia-Pacific, Southeast Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. Countries analyzed include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, the United Kingdom, the United States, Canada, Italy and Spain. Markets Covered:1) By Type: Mobile Skid; Stationary Skid2) By Fuel Type: E-Diesel; E-Gasoline; E-Kerosene; E-Methanol; Other Fuel Types3) By Component: Storage Tanks; Pumps; Valves; Meters and Monitoring Systems; Control and Safety Systems; Piping and Hoses4) By Application: Marine; Aviation; Automotive; Industrial; Other Applications5) By End-User: Commercial; Military; Other End UsersSubsegments:1) By Mobile Skid: Truck Mounted Mobile Skid; Trailer Mounted Mobile Skid; Containerized Mobile Skid; Portable Compact Mobile Skid2) By Stationary Skid: Fixed Ground Mounted Stationary Skid; Modular Stationary Skid; High Capacity Stationary Skid; Integrated Facility Stationary SkidTime Series:Five years historic and ten years forecast.Data:Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.Data Segmentation:Country and regional historic and forecast data, market share of competitors, market segments.Key Attributes Report Attribute Details No. of Pages 250 Forecast Period 2026-2030 Estimated Market Value (USD) in 2026 $1.43 Billion Forecasted Market Value (USD) by 2030 $3.02 Billion Compound Annual Growth Rate 20.5% Regions Covered Global Companies Featured Emerson Electric Co. Woodside Energy Group Ltd Eastman Meters & Systems Pvt. Ltd. TechnipFMC plc Wartsila Corporation Endress+Hauser Group Services AG Kongsberg Maritime AS Trelleborg AB MAKEEN Energy A/S GTT SA Burckhardt Compression Holding AG Plug Power Inc. DESMI A/S Amogy Inc. TGE Marine Gas Engineering GmbH Liquid Controls LLC Kanon Loading Equipment B.V. MAN Energy Solutions SE NPROXX B.V. Azane Fuel Solutions AS Henan Eaglestar Energy Technology Co. Ltd. For more information about this report visithttps://www.researchandmarkets.com/r/gn83t1 About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment E-Fuel Bunkering Skid Market
Greece’s geographic location—between Europe, Africa, the Middle East, and Asia—makes it an attractive destination for strategic investments. Amazon, Google, and Microsoft are establishing facilities in Attica, while a large-scale data center is planned on the…
Δείτε περισσότερα άρθρα μας στα αποτελέσματα αναζήτησης If there is one thing that lies at the heart of artificial intelligence and the broader Fourth Industrial Revolution, it is… the cloud. As cloud computing becomes the essential solution for storing the vast amounts of data required by the next generation of digital services, Greece is positioning itself as a major player by attracting an increasing number of data centers. The country is emerging as a key digital services hub amid rapidly growing demand for cloud infrastructure and AI applications, with investments expected to exceed€50 billion over the next decade. The big story, however, is not just the size of these investments. A closer look at the map of planned data center locations reveals that interest ingiga—or hyperscale—data centersis increasingly focused on regions in northern Greece, creating jobs and contributing to regional development beyond Athens. Consider this: three of the “Big Four” companies in cloud services and data storage—AWS (Amazon), Google, and Microsoft—have already launched investments in Greece to build data centers. At the same time, global real estate and infrastructure giants such asEXA Infrastructureare participating in projects or planning their expansion into the Greek market. Nothing comes without a cost, however. A typical data center requires: The Greek government has recognized the surge of interest in data centers and aims to secure a leading position in this sector. A flagship project involves the development of agiga data center in Kozani, in cooperation with major investors and PPC (Public Power Corporation), on the site of a former lignite-fired power plant. The former coal facility is expected to be transformed into a massive data center storing cloud data from across Europe. The project is expected to attract€5.75 billion in investmentand create approximately2,000 permanent jobs. The location is considered highly attractive due to: PPC also benefits from its participation in: According todatacentermap.com, analyzed byProto Thema, Greece currently hosts: Distribution: According to a PwC study prepared for the Greek government, recorded investor interest already exceeds1 GWof power capacity, concentrated primarily inAttica (approximately 65%). Overall declared interest ranges between1.4 GW and 2.2 GW. PwC’s siting study reports: Investors have also formally expressed interest in an additional0.8 GW. Electricity demand from data centers is estimated at: PwC concludes that building1 GWof data center capacity would unlock major economic benefits, including: Combined with submarine fiber-optic cables and supercomputers, these investments are expected to establish Greece as a major digital hub. A recent study by consulting firmAriztonestimates that Greece’s data center market will attract cumulative investments exceeding$1.34 billion by 2029. The report highlights Greece’s strategic geographic position connectingEurope, Africa, the Middle East, and Asia, making it an attractive destination for data center investments. According to Arizton, Greece is expected to add more than67,819 square metersof new data center space between2024 and 2029. Major cloud providers such asGoogleandMicrosofthave already played a significant role in expanding the country’s data center market. While data centers are welcomed as drivers of economic growth, they come with significant resource demands. They require: Every chatbot query consumes both electricity and water, and the rapid growth of AI explains why global computing power requirements are projected to increase by as much as fivefold. In Europe’sFLAP-Dmarkets (Frankfurt, London, Amsterdam, Paris, and Dublin), occupancy rates exceed90%, while electricity grids have become saturated, delaying new developments. InDublin, data centers already consume roughly20% of Ireland’s total annual electricity. PwC concludes that although Greece has sufficient national electricity capacity, there is a mismatch between regions where power is available and regions where demand is concentrated. Grid capacity dedicated to data centers is expected to increase from1.9 GW todayto2.9 GW by 2034. Analysts estimate this creates an addressable regional market of up to5 GWacross southeastern Europe and the Middle East, as demand for data center capacity across Europe, the Middle East, and Africa (EMEA) is expected to triple. According to theInternational Energy Agency (IEA), electricity consumption is enormous. A typical medium-sized data center (15–20 MW) consumes: This is enough electricity to power: With AI, demand has grown dramatically. The IEA projects global data center electricity consumption will exceed1,000 terawatt-hours (TWh)—roughly equal to the total annual electricity consumption of countries such asJapanorGermany. Even everyday digital activities have hidden energy costs: Generating afive-second AI videocan consume as much electricity as running a microwave oven at full power forone hour. Cooling represents another major resource requirement. According toEurelectric, hyperscale data centers using water cooling require between1 and 5 million cubic meters of water annually. Much of this water comes from reservoirs. Some countries, includingChina, are experimenting with underwater data centers to achieve more efficient cooling. According to theBrookings Institution, a typical medium-sized (15–20 MW) data center consumes: Equivalent to the daily consumption of roughly1,000 households. Modern hyperscale AI data centers can consume: Equivalent to the annual water consumption of an entire city with10,000–50,000 residents. In practical terms, a giga data center may use annually as much water as cities likeNafpaktos,Kos, orZakynthos, while the largest hyperscale facilities may rival the annual water consumption of cities such asTrikala,Ioannina,Agrinio, orKaterini. A typical100 MWdata center alone consumes approximately2 million liters of water every day. Electricity and water are not the only necessities. Data centers also depend on: The latter is provided primarily throughsubmarine fiber-optic cables, which carry the majority of global internet traffic between continents. When these cables reach shore, they terminate atCable Landing Stations, where terrestrial fiber networks connect them to data centers responsible for processing, storing, and routing digital traffic to the internet, cloud services, and end users. Locating data centers close to submarine cable landings: As a result,AthensandCreteare gradually emerging as important digital hubs in the Mediterranean thanks to numerous ongoing investments in submarine cables and digital infrastructure. Incidentally, Microsoft’s mega-project inSpataandKoropiincludes the construction ofthree data centers. The main complex in Spata alone is expected to cover approximately15,000–20,000 square meters—roughly the size of theAcropolis Museum, or aboutthree football pitches the size of OAKA’s playing field. With major Greek and international companies already investing—or planning investments—in cloud infrastructure across Greece, land outside dense urban areas, particularly inMesogeia, has become highly sought after. These locations offer: Explore related questions
📰 The Manila Times📅 2026-07-28📍 DublinoenAria · inquinamentoClima · decarbonizzazione
Report on Financial Results of Second Quarter and Six-Month period ended June 30, 2026 and Declaration of Dividend on Common Stock The Manila Times
MONACO, July 28, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the "Company") (NYSE/Euronext Athens: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six-month periods ended June 30, 2026. The Board of Directors (the "Board") of the Company also declared a cash dividend of $0.075 per share of outstanding common stock. 2026 2025 (June 30, 2026) (March 31, 2026) (December 31, 2025) (September 30, 2025) (June 30, 2025) Dr. Loukas Barmparis, President of the Company, said: "In line with our financial performance in the second quarter of 2026, which was supported by a relative strong charter market, we increased our quarterly dividend to $7.5 cents per share. The basic components of our policies, which include a strong balance sheet, liquidity and capital resources, conservative leverage and fleet renewal with newbuilds replacing older tonnage, reflect our ability to operate a continuously upgraded, modern fleet with improved competitive characteristics, means we have the financial resources to invest when required, and reward our shareholders". Safe Bulkers, Inc. Becomes the First Shipping Company with Common Stock trading on both the NYSE and Euronext Athens In June 2026, the Company’s issued shares of common stock commenced trading on Euronext Athens under the ticker symbol "SB” and ISIN code: MHY7388L1039. The Euronext platform provides access to European capital markets, including Oslo, Milan, Paris, Brussels, Amsterdam, Dublin, Lisbon and Athens. By listing its common stock on the Main Market of the Regulated Securities Market of Euronext Athens, the Company aims to broaden and diversify its shareholder base in Europe. The Company’s common stock will continue to be primarily listed on NYSE. Company’s series C preferred stock and series D preferred stock are listed only on NYSE. Issuance of the 2025 Sustainability Report In May 2026, the Company made publicly available the 2025 Sustainability Report which has been prepared in accordance with the Global Reporting Initiative (''GRI'') Sustainability Reporting Guidelines, in accordance with the GRI Standards and the Sustainability Accounting Standards Board (''SASB'') recommendation for maritime transport, alongside additional indicators that are materially important to the Company and its stakeholders. The report reflects the Company's continued commitment to proactively managing environmental risks, supporting the communities in which it operates, and strengthening its governance framework in line with evolving regulatory requirements and stakeholders' expectations. The report is available for download and can be accessed from the Company's website using the link:www.safebulkers.com/sustainability2025 Ten Million Shares of Common Stock Repurchase Program In December 2025, the Company authorized a program under which it might from time to time in the future purchase up to 10,000,000 shares of the Company’s common stock. Should the maximum number of shares of the Company’s common stock be purchased pursuant to the aforementioned program, it would represent approximately 9.8% of the shares of the Company’s common stock outstanding and 20.0% of its public float. The program does not obligate the Company to purchase shares of the Company’s common stock, and it may be modified or terminated at any time without prior notice. Any such purchases would be made in NYSE in the open market in compliance with applicable laws and regulations, and that purchases on the open market would be conducted within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934, as amended. As of July 24, 2026, the Company had purchased and cancelled 515,469 shares of common stock under the aforementioned program. The purchases were funded using the Company’s existing cash resources. Environmental Investments - Dry-Dockings The Company is gradually renewing its fleet by ordering newbuilds with advanced energy efficiency characteristics designed to meet the International Maritime Organization (the "IMO") regulations related to the Phase 3 reduction of greenhouse gas emissions (the "IMO GHG Phase 3") and nitrogen oxide emissions (the "IMO NOx Tier III"), while selectively selling older vessels. In parallel, the Company is continuing the environmental upgrade program of its existing fleet, having upgraded 25 vessels as of July 24, 2026. The cost of low-friction paint applications that are part of the environmental upgrades is recorded as operating expenses, while the cost of energy saving devices is capitalized and recorded as capital expenditures. Fleet renewal and environmental upgrades in existing fleet lead to fuel savings and lower GHG emissions. As of July 24, 2026, the Company expects 114 down time days for the third quarter of 2026 and 36 down time days for the fourth quarter of 2026 relating to scheduled vessel repairs and upgrades. Fleet Update As of July 24, 2026, we had a fleet of 46 vessels, two of which are held for sale, consisting of eight Panamax, 14 Kamsarmax, 17 Post-Panamax and seven Capesize class vessels, with a total carrying capacity of 4.5 million dwt and an average age of 10.4 years. Our fleet includes 14 IMO GHG Phase 3 - NOx Tier III ships built from 2022 or later and 11 eco-ships built from 2014 onwards. Furthermore, we have 20 vessels equipped with exhaust gas cleaning devices ("Scrubbers''), including all of our Capesize class vessels, which generate additional earnings under charter agreements, providing for variable consideration based on bunker consumption. Orderbook As of July 24, 2026, we had an orderbook of 10 IMO GHG Phase 3 - NOx Tier III newbuilds of which 9 Kamsarmax class, including two dual-fuel methanol vessels, and one Capesize class vessel. Two of those Kamsarmax newbuilds are scheduled to be delivered within 2026, two in 2027, one in 2028 and four in 2029. The Capesize class newbuild is scheduled to be delivered in 2029. In more detail, since January 1, 2026, the Company has entered into the following agreements: In January 2026, we entered into agreements for the acquisition of two 82,500 dwt, dry-bulk Chinese Kamsarmax class newbuild vessels, with scheduled deliveries in the third quarter of 2028 and the first quarter of 2029, respectively. In May 2026, we entered into agreements for the acquisition of two 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessels, with scheduled deliveries in the second and third quarter of 2029, respectively. In June 2026, we entered into an agreement for the acquisition of one 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessel with scheduled delivery in the first half of 2029. In June 2026, we entered into an agreement to acquire an 182,000 dwt, dry-bulk Japanese Capesize class newbuild vessel with scheduled delivery in the second half of 2029. Kamsarmax newbuild orders are sister vessels to existing vessels in our fleet. Newbuild deliveries In April 2026, the Company took delivery of the Japanese-built Kamsarmax classKaterina, its thirteenth IMO GHG Phase 3 - NOx Tier III newbuild vessel. In June 2026, the Company took delivery of the Japanese-built Kamsarmax classMaritsa, its fourteenth IMO GHG Phase 3 - NOx Tier III newbuild vessel. Vessel sales In February 2026, we entered into an agreement for the sale of theMichalis H, a 2012 Chinese-built, Capesize class dry-bulk vessel, for a gross sale price of $35.2 million. The vessel was delivered to her new owners in April 2026. In May 2026, we entered into agreements for the sale of two vessels,Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of $12.8 million, andPedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of $14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages. Both vessels are debt-free. Chartering our Fleet Our vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. We intend to employ our vessels under both period time charters and spot time charters, according to our assessment of market conditions. Our customers represent some of the world’s largest consumers of marine drybulk transportation services. Period time charters provide us with visible and relatively stable cash flows, while the vessels we deploy in the spot market allow us to increase our revenues in high charter market conditions, or to maintain our employment flexibility in low charter market conditions providing an opportunity for a potential upside in our revenue when charter market conditions improve. The chartering of our vessels is arranged by our Managers14 without any management commission. During the second quarter of 2026, we operated 45.13 vessels on average, earning a TCE of $20,642, compared to 46.75 vessels earning a TCE of $14,857 during the same period in 2025. During the six-month period ended June 30, 2026, we operated 45.07 vessels on average, earning an average TCE of $18,862 compared to 46.38 vessels earning an average TCE of $14,756 during the same period in 2025. As of July 24, 2026,we employed, or had contracted to employ: (i) 14 vessels in the spot time charter market (with an original duration of up to three months) and (ii) 33 vessels in the period time charter market (with an original duration in excess of three months). Of the vessels chartered in the period time charter market, six have an original duration of more than two years. As of July 24, 2026, the average remaining charter duration across our fleet was 0.4 years and we had contracted revenue of approximately $164.2 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the additional compensation related to the use of Scrubbers. In relation to our Capesize class vessels, as of July 24, 2026, all seven were chartered under period time charters, five of which have remaining charter durations exceeding one year. The average remaining charter duration of our Capesize class vessels was 1.7 years and the average daily charter hire was $24,580, resulting in a contracted revenue of approximately $105.4 million, net of commissions and excluding the Scrubber benefit. Our contracted fleet employment profile as of July 24, 2026, is presented in Table 1 below. Table 1: Contracted employment profile of fleet ownership days as ofJuly 24, 2026 As of June 30, 2026, our consolidated debt before deferred financing costs was $519.2 million, including the €100 million - 2.95% p.a. fixed coupon, non-amortizing, unsecured bond issued in February 2022, maturing in February 2027. Our consolidated leverage,15 based on vessels' market valuations, was approximately 30%. Our weighted average interest rate during the three-month period ended June 30, 2026 was 5.10% inclusive of the applicable loan margin. During the three-month period ended June 30, 2026, we made scheduled principal payments of $5.0 million and voluntary principal payments of $27.0 million. The repayment schedule of our debt as of June 30, 2026, is presented in Table 2 below: Table 2:Debt repayment Schedule as ofJune 30, 2026 (in USD million) As of June 30, 2026, we had a fleet of 46 vessels, two of which were held for sale, and an orderbook of 10 newbuilds. In relation to our orderbook, excluding the Capesize class newbuild, we had paid $91.5 million and had $277.2 million of remaining capital expenditure requirements. The Capesize class newbuild is financed through a finance lease under a bareboat charter agreement, with purchase option for the Company. We had $142.9 million in cash, cash equivalents, bank time deposits, and restricted cash, and had $200.1 million in undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our held for sale vessels amount to $27.5 million. Furthermore, we had contracted revenue of approximately $153.8 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity, excluding our held for sale vessels, in connection to two debt-free vessels and nine newbuilds upon their delivery. In relation to capital expenditure requirements of the nine newbuilds, excluding the Capesize class newbuild which will be acquired through a finance lease, $61.4 million is payable in 2026, $81.5 million in 2027, $42.8 million in 2028 and $91.5 million in 2029. The scrap value16 of our fleet was $313.6 million and the outstanding consolidated debt before deferred financing costs was $519.2 million, including the unsecured bond. Liquidity, capital resources, capital expenditure requirements and debt as ofJuly 24, 2026 As of July 24, 2026, we had a fleet of 46 vessels, two of which were held for sale, and an orderbook of 10 newbuilds. In relation to our orderbook, excluding the Capesize class newbuild, we had paid $91.5 million and had $277.2 million of remaining capital expenditure requirements. The Capesize class newbuild is financed through a finance lease under a bareboat charter agreement, with purchase option for the Company. We had $153.2 million in cash, cash equivalents, bank time deposits, restricted cash, and had $204.5 million in undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our two held for sale vessels amount to $27.5 million. Furthermore, we had contracted revenue of approximately $164.2 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity, excluding our held for sale vessels, in connection to two debt-free vessels and nine newbuilds upon their delivery. In relation to capital expenditure requirements of the nine newbuilds, excluding the Capesize class newbuild which will be acquired through a finance lease, $61.4 million was payable in 2026, $81.5 million in 2027, $42.8 million in 2028 and $91.5 million in 2029. The scrap value16 of the fleet, excluding our held for sale vessels, was $313.6 million and the outstanding consolidated debt before deferred financing costs was $514.0 million, including the unsecured bond. Dividend Policy On July 28, 2026, the Board of the Company declared a cash dividend on the Company’s common stock of $0.075 per share which is payable on August 26, 2026, to the shareholders of record of the Company’s common stock at the close of trading on August 13, 2026. The record date is common for both NYSE and Euronext Athens markets. The ex-dividend date established by the NYSE is expected to be August 13, 2026. The ex-dividend date for dividends payable to holders of shares via Euronext Securities Athens is expected to be August 12, 2026. As of July 24, 2026, the Company had 101,833,473 shares of common stock issued and outstanding. On July 1, 2026, the Board of the Company declared a cash dividend of $0.50 per share on each of its Series C preferred shares (NYSE: SB.PR.C) and Series D preferred shares (NYSE: SB.PR.D) for the period from April 30, 2026 to July 29, 2026. The dividend is payable on July 30, 2026 to all shareholders of record as of July 17, 2026 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. On June 17, 2026, the Board of the Company declared a cash dividend on the Company’s common stock of $0.06 per share which was paid on July 16, 2026, to all shareholders of record of the Company’s common stock at the close of trading on June 30, 2026. In April 2026, the Board of the Company declared a cash dividend of $0.50 per share on each of its Series C preferred shares and Series D preferred shares for the period from January 30, 2026 to April 29, 2026. The dividend was paid on April 30, 2026 to all shareholders of record as of April 17, 2026 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. In February 2026, the Board of the Company declared a cash dividend on the Company's common stock of $0.05 per share which was paid on March 18, 2026, to all shareholders of record of the Company's common stock at the close of trading on March 2, 2026. In January 2026, the Board of the Company declared a cash dividend of $0.50 per share on each of its Series C preferred shares and Series D preferred shares for the period from October 30, 2025, to January 29, 2026 which was paid on January 30, 2026, to all shareholders of record as of January 16, 2026, of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of the Company. There is no guarantee that the Company’s Board will determine to issue cash dividends in the future. The timing and amount of any dividends declared will depend on, among other things: (i) the Company’s earnings, fleet employment profile, financial condition, cash requirements, and available sources of liquidity; (ii) decisions in relation to the Company’s growth, fleet renewal, and leverage strategies; (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends; (iv) restrictive covenants in the Company’s existing and future debt instruments; and (v) global economic and financial conditions. NYSE Dividend Information For shareholders who hold their shares of Common Stock in NYSE through DTC, no action is required and dividend payments will proceed as previously. Euronext Athens Dividend Information Dividends declared by the Company are denominated in U.S. dollars. The shares of Common Stock on the NYSE and Euronext Athens will have the same record date for dividend payments. The ex-dividend date for Euronext Athens is expected to be one business day earlier than the ex-dividend date for the NYSE, taking into account the prevailing settlement rules in these markets. For shareholders who hold their shares of Common Stock through Euronext Securities Athens, dividends will be paid in U.S. dollars to the relevant Euronext Securities Athens participant. The payment will be transmitted through intermediaries, including DTC, and there may be additional time required for receipt following the payment date, including due to time zone considerations. Shareholders holding shares of Common Stock through Euronext Securities Athens and wishing to receive dividends in euros should consult their Euronext Securitie
Safe Bulkers becomes first shipping company on NYSE and Euronext Athens Stock Titan
Safe Bulkers (NYSE/Euronext Atene: SB)ha comunicato ricavi netti non sottoposti a revisione contabile nel Q2 2026 pari a87,5 milioni di dollarie un utile netto di35,2 milioni di dollari(EPS0,33 dollari), rispetto a ricavi netti del Q2 2025 di 65,7 milioni di dollari e un utile netto di 1,7 milioni di dollari. L’utile netto adjusted è stato di30,6 milioni di dollari(EPS adjusted 0,28 dollari). L’EBITDA ha raggiunto54,8 milioni di dollari, con EBITDA adjusted di50,3 milioni di dollari. Il Consiglio ha dichiarato un dividendo trimestrale in contanti di0,075 dollari per azione ordinaria. Per i sei mesi chiusi il 30 giugno 2026, i ricavi netti sono stati161,9 milioni di dollarie l’utile netto57,4 milioni di dollari. Il TCE medio è salito a20.642 dollarinel Q2 2026. Al 30 giugno 2026, la Società disponeva di46 navi, un indebitamento totale di519,2 milioni di dollari, liquidità di142,9 milioni di dollarie200,1 milioni di dollariin linee di credito rotative non utilizzate, con leverage consolidato di circa30%in base ai valori di mercato delle navi. Il titolo azionario di Safe Bulkers ha iniziato a essere negoziato suEuronext Atenenel giugno 2026, restando però principalmente quotato su NYSE. La Società ha mantenuto un portafoglio ordini di10 navi IMO GHG Phase 3 – NOx Tier III, ha proseguito con rinnovi della flotta e aggiornamenti ambientali e ha operato un programma di riacquisto azioni da10 milioni di azioni, nell’ambito del quale515.469 azionisono state acquistate e cancellate entro il 24 luglio 2026. The tag-specific history showed an average1.39%move across five comparable events. That record adds mixed precedent to the stronger results and dividend increase; low short positioning remained a documented risk factor to watch. 24h Move is the share-price change in the day after each event; other market factors may also have contributed. Comparable earnings-and-dividend announcements produced mixed reactions, with positive Q1 2026 results aligning with a gain while weaker prior results showed both alignment and divergence. AI-generated analysis.How Rhea-AI works. Not financial advice. MONACO, July 28, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the "Company") (NYSE/Euronext Athens:SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three and six-month periods ended June 30, 2026.The Board of Directors (the "Board") of the Company also declared a cash dividend of$0.075per share of outstanding common stock. Management Commentary Dr. Loukas Barmparis, President of the Company, said: "In line with our financial performance in the second quarter of 2026, which was supported by a relative strong charter market, we increased our quarterly dividend to$7.5cents per share. The basic components of our policies, which include a strong balance sheet, liquidity and capital resources, conservative leverage and fleet renewal with newbuilds replacing older tonnage, reflect our ability to operate a continuously upgraded, modern fleet with improved competitive characteristics, means we have the financial resources to invest when required, and reward our shareholders". Safe Bulkers, Inc. Becomes the First Shipping Company with Common Stock trading on both the NYSE and Euronext Athens In June 2026, the Company’s issued shares of common stock commenced trading on Euronext Athens under the ticker symbol “SB” and ISIN code: MHY7388L1039. The Euronext platform provides access to European capital markets, including Oslo, Milan, Paris, Brussels, Amsterdam, Dublin, Lisbon and Athens. By listing its common stock on the Main Market of the Regulated Securities Market of Euronext Athens, the Company aims to broaden and diversify its shareholder base in Europe. The Company’s common stock will continue to be primarily listed on NYSE. Company’s series C preferred stock and series D preferred stock are listed only on NYSE. Issuance of the 2025 Sustainability Report In May 2026, the Company made publicly available the 2025 Sustainability Report which has been prepared in accordance with the Global Reporting Initiative (''GRI'') Sustainability Reporting Guidelines, in accordance with the GRI Standards and the Sustainability Accounting Standards Board (''SASB'') recommendation for maritime transport, alongside additional indicators that are materially important to the Company and its stakeholders. The report reflects the Company's continued commitment to proactively managing environmental risks, supporting the communities in which it operates, and strengthening its governance framework in line with evolving regulatory requirements and stakeholders' expectations. The report is available for download and can be accessed from the Company's website using the link:www.safebulkers.com/sustainability2025 Ten Million Shares of Common Stock Repurchase Program In December 2025, the Company authorized a program under which it might from time to time in the future purchase up to 10,000,000 shares of the Company’s common stock. Should the maximum number of shares of the Company’s common stock be purchased pursuant to the aforementioned program, it would represent approximately9.8%of the shares of the Company’s common stock outstanding and20.0%of its public float. The program does not obligate the Company to purchase shares of the Company’s common stock, and it may be modified or terminated at any time without prior notice. Any such purchases would be made in NYSE in the open market in compliance with applicable laws and regulations, and that purchases on the open market would be conducted within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934, as amended. As of July 24, 2026, the Company had purchased and cancelled 515,469 shares of common stock under the aforementioned program. The purchases were funded using the Company’s existing cash resources. Environmental Investments - Dry-Dockings The Company is gradually renewing its fleet by ordering newbuilds with advanced energy efficiency characteristics designed to meet the International Maritime Organization (the "IMO") regulations related to the Phase 3 reduction of greenhouse gas emissions (the "IMO GHG Phase 3") and nitrogen oxide emissions (the "IMO NOx Tier III"), while selectively selling older vessels. In parallel, the Company is continuing the environmental upgrade program of its existing fleet, having upgraded 25 vessels as of July 24, 2026. The cost of low-friction paint applications that are part of the environmental upgrades is recorded as operating expenses, while the cost of energy saving devices is capitalized and recorded as capital expenditures. Fleet renewal and environmental upgrades in existing fleet lead to fuel savings and lower GHG emissions. As of July 24, 2026, the Company expects 114 down time days for the third quarter of 2026 and 36 down time days for the fourth quarter of 2026 relating to scheduled vessel repairs and upgrades. Fleet Update As of July 24, 2026, we had a fleet of 46 vessels, two of which are held for sale, consisting of eight Panamax, 14 Kamsarmax, 17 Post-Panamax and seven Capesize class vessels, with a total carrying capacity of 4.5 million dwt and an average age of 10.4 years. Our fleet includes 14 IMO GHG Phase 3 - NOx Tier III ships built from 2022 or later and 11 eco-ships built from 2014 onwards. Furthermore, we have 20 vessels equipped with exhaust gas cleaning devices ("Scrubbers''), including all of our Capesize class vessels, which generate additional earnings under charter agreements, providing for variable consideration based on bunker consumption. Orderbook As of July 24, 2026, we had an orderbook of 10 IMO GHG Phase 3 - NOx Tier III newbuilds of which 9 Kamsarmax class, including two dual-fuel methanol vessels, and one Capesize class vessel. Two of those Kamsarmax newbuilds are scheduled to be delivered within 2026, two in 2027, one in 2028 and four in 2029. The Capesize class newbuild is scheduled to be delivered in 2029. In more detail, since January 1, 2026, the Company has entered into the following agreements: In January 2026, we entered into agreements for the acquisition of two 82,500 dwt, dry-bulk Chinese Kamsarmax class newbuild vessels, with scheduled deliveries in the third quarter of 2028 and the first quarter of 2029, respectively. In May 2026, we entered into agreements for the acquisition of two 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessels, with scheduled deliveries in the second and third quarter of 2029, respectively. In June 2026, we entered into an agreement for the acquisition of one 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessel with scheduled delivery in the first half of 2029. In June 2026, we entered into an agreement to acquire an 182,000 dwt, dry-bulk Japanese Capesize class newbuild vessel with scheduled delivery in the second half of 2029. Kamsarmax newbuild orders are sister vessels to existing vessels in our fleet. Newbuild deliveries In April 2026, the Company took delivery of the Japanese-built Kamsarmax classKaterina, its thirteenth IMO GHG Phase 3 - NOx Tier III newbuild vessel. In June 2026, the Company took delivery of the Japanese-built Kamsarmax classMaritsa, its fourteenth IMO GHG Phase 3 - NOx Tier III newbuild vessel. Vessel sales In February 2026, we entered into an agreement for the sale of theMichalis H, a 2012 Chinese-built, Capesize class dry-bulk vessel, for a gross sale price of$35.2 million. The vessel was delivered to her new owners in April 2026. In May 2026, we entered into agreements for the sale of two vessels,Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of$12.8 million, andPedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of$14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages. Both vessels are debt-free. Chartering our Fleet Our vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. We intend to employ our vessels under both period time charters and spot time charters, according to our assessment of market conditions. Our customers represent some of the world’s largest consumers of marine drybulk transportation services. Period time charters provide us with visible and relatively stable cash flows, while the vessels we deploy in the spot market allow us to increase our revenues in high charter market conditions, or to maintain our employment flexibility in low charter market conditions providing an opportunity for a potential upside in our revenue when charter market conditions improve. The chartering of our vessels is arranged by our Managers14without any management commission. During the second quarter of 2026, we operated 45.13 vessels on average, earning a TCE of$20,642, compared to 46.75 vessels earning a TCE of$14,857during the same period in 2025. During the six-month period ended June 30, 2026, we operated 45.07 vessels on average, earning an average TCE of$18,862compared to 46.38 vessels earning an average TCE of$14,756during the same period in 2025. As of July 24, 2026,we employed, or had contracted to employ: (i) 14 vessels in the spot time charter market (with an original duration of up to three months) and (ii) 33 vessels in the period time charter market (with an original duration in excess of three months). Of the vessels chartered in the period time charter market, six have an original duration of more than two years. As of July 24, 2026, the average remaining charter duration across our fleet was 0.4 years and we had contracted revenue of approximately$164.2 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the additional compensation related to the use of Scrubbers. In relation to our Capesize class vessels, as of July 24, 2026, all seven were chartered under period time charters, five of which have remaining charter durations exceeding one year. The average remaining charter duration of our Capesize class vessels was 1.7 years and the average daily charter hire was$24,580, resulting in a contracted revenue of approximately$105.4 million, net of commissions and excluding the Scrubber benefit. Our contracted fleet employment profile as of July 24, 2026, is presented in Table 1 below. Table 1: Contracted employment profile of fleet ownership days as ofJuly 24, 2026 Debt As of June 30, 2026, our consolidated debt before deferred financing costs was$519.2 million, including the€100 million-2.95%p.a. fixed coupon, non-amortizing, unsecured bond issued in February 2022, maturing in February 2027. Our consolidated leverage,15based on vessels' market valuations, was approximately30%. Our weighted average interest rate during the three-month period ended June 30, 2026 was5.10%inclusive of the applicable loan margin. During the three-month period ended June 30, 2026, we made scheduled principal payments of$5.0 millionand voluntary principal payments of$27.0 million. The repayment schedule of our debt as of June 30, 2026, is presented in Table 2 below: Table 2:Debt repayment Schedule as ofJune 30, 2026(in USD million) Liquidity, capital resources, capital expenditure requirements and debt as ofJune 30, 2026 As of June 30, 2026, we had a fleet of 46 vessels, two of which were held for sale, and an orderbook of 10 newbuilds. In relation to our orderbook, excluding the Capesize class newbuild, we had paid$91.5 millionand had$277.2 millionof remaining capital expenditure requirements. The Capesize class newbuild is financed through a finance lease under a bareboat charter agreement, with purchase option for the Company. We had$142.9 millionin cash, cash equivalents, bank time deposits, and restricted cash, and had$200.1 millionin undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our held for sale vessels amount to$27.5 million. Furthermore, we had contracted revenue of approximately$153.8 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity, excluding our held for sale vessels, in connection to two debt-free vessels and nine newbuilds upon their delivery. In relation to capital expenditure requirements of the nine newbuilds, excluding the Capesize class newbuild which will be acquired through a finance lease,$61.4 millionis payable in 2026,$81.5 millionin 2027,$42.8 millionin 2028 and$91.5 millionin 2029. The scrap value16of our fleet was$313.6 millionand the outstanding consolidated debt before deferred financing costs was$519.2 million, including the unsecured bond. Liquidity, capital resources, capital expenditure requirements and debt as ofJuly 24, 2026 As of July 24, 2026, we had a fleet of 46 vessels, two of which were held for sale, and an orderbook of 10 newbuilds. In relation to our orderbook, excluding the Capesize class newbuild, we had paid$91.5 millionand had$277.2 millionof remaining capital expenditure requirements. The Capesize class newbuild is financed through a finance lease under a bareboat charter agreement, with purchase option for the Company. We had$153.2 millionin cash, cash equivalents, bank time deposits, restricted cash, and had$204.5 millionin undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our two held for sale vessels amount to$27.5 million. Furthermore, we had contracted revenue of approximately$164.2 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity, excluding our held for sale vessels, in connection to two debt-free vessels and nine newbuilds upon their delivery. In relation to capital expenditure requirements of the nine newbuilds, excluding the Capesize class newbuild which will be acquired through a finance lease,$61.4 millionwas payable in 2026,$81.5 millionin 2027,$42.8 millionin 2028 and$91.5 millionin 2029. The scrap value16of the fleet, excluding our held for sale vessels, was$313.6 millionand the outstanding consolidated debt before deferred financing costs was$514.0 million, including the unsecured bond. Dividend Policy On July 28, 2026, the Board of the Company declared a cash dividend on the Company’s common stock of$0.075per share which is payable on August 26, 2026, to the shareholders of record of the Company’s common stock at the close of trading on August 13, 2026.The record date is common for both NYSE and Euronext Athens markets. The ex-dividend date established by the NYSE is expected to be August 13, 2026. The ex-dividend date for dividends payable to holders of shares via Euronext Securities Athens is expected to be August 12, 2026. As of July 24, 2026, the Company had 101,833,473 shares of common stock issued and outstanding. On July 1, 2026, the Board of the Company declared a cash dividend of$0.50per share on each of its Series C preferred shares (NYSE:SB.PR.C) and Series D preferred shares (NYSE:SB.PR.D) for the period from April 30, 2026 to July 29, 2026. The dividend is payable on July 30, 2026 to all shareholders of record as of July 17, 2026 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. On June 17, 2026, the Board of the Company declared a cash dividend on the Company’s common stock of$0.06per share which was paid on July 16, 2026, to all shareholders of record of the Company’s common stock at the close of trading on June 30, 2026. In April 2026, the Board of the Company declared a cash dividend of$0.50per share on each of its Series C preferred shares and Series D preferred shares for the period from January 30, 2026 to April 29, 2026. The dividend was paid on April 30, 2026 to all shareholders of record as of April 17, 2026 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. In February 2026, the Board of the Company declared a cash dividend on the Company's common stock of$0.05per share which was paid on March 18, 2026, to all shareholders of record of the Company's common stock at the close of trading on March 2, 2026. In January 2026, the Board of the Company declared a cash dividend of$0.50per share on each of its Series C preferred shares and Series D preferred shares for the period from October 30, 2025, to January 29, 2026 which was paid on January 30, 2026, to all shareholders of record as of January 16, 2026, of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of the Company. There is no guarantee that the Company’s Board will determine to issue cash dividends in the future. The timing and amount of any dividends declared will depend on, among other things: (i) the Company’s earnings, fleet employment profile, financial condition, cash requirements, and available sources of liquidity; (ii) decisions in relation to the Company’s growth, fleet renewal, and leverage strategies; (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends; (iv) restrictive covenants in the Company’s existing and future debt instruments; and (v) global economic and financial conditions. NYSE Dividend Information For shareholders who hold their shares of Common Stock in NYSE through DTC, no action is required and dividend payments will proceed as previously. Euronext Athens Dividend Information Dividends declared by the Company are denominated in U.S. dollars. The shares of Common Stock on the NYSE and Euronext Athens will have the same record date for dividend payments. The ex-dividend date for Euronext Athens is expected to be one business day earlier than the ex-dividend date for the NYSE, taking into account the prevailing settlement rules in these markets. For shareholders who hold their shares of Common Stock through Euronext Securities Athens, dividends will be paid in U.S. dollars to the relevant Euronext Securities Athens participant. The payment will be transmitted through intermediaries, including DTC, and there may be additional time required for receipt following the payment date, including due to time zone considerations. Shareholders holding shares of Common Stock through Euronext Securities Athens and wishing to receive dividends in euros should consult their Euronext Securities Athens participant, broker, or custodian regarding the applicable currency conversion arrangements and any associated fees. Conference Call On Wednesday, July 29, 2026, at 10:30 U.S. Eastern Time / 17:30 Eastern European Time, the Company’s management team will host a conference call to discuss the Company’s financial results. Conference Call Details Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In), or +0 800 756 3429 (UK Toll-Free Dial In). Please quote “Safe Bulkers” to the operator and/or conference ID 13761987. Clickherefor additional participant International Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Clickherefor the call me option. Slides and Audio Webcast There will also be a live, and then archived, webcast of the conference call and accompanying slides, available through the Company’s website. To listen to the archived audio file, visit our websitewww.safebulkers.comand click on Events & Presentations. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. Management Discussion ofSecondQuarter2026Results During the second quarter of 2026, we operated in an improved charter market environment compared to the same period in 2025, with increased revenues due to higher charter hires and increased earnings from scrubber-fitted vessels. During the second quarter of 2026, we operated 45.13 vessels on average, earning an average TCE of$20,642compared to 46.75 vessels earning an average TCE of$14,857during the same period in 2025. The Company's net income for the second quarter of 2026 was$35.2 millioncompared to$1.7 millionduring the same period in 2025. The main factors driving the change in net income are as follows: Net revenues:Net revenues increased by33%to$87.5 millionfor the second quarter of 2026, compared to$65.7 millionfor the same period in 2025. The increase was primarily due to higher revenues from charter hires and scrubber-fitted vessels. Vessel operating expenses:Vessel operating expenses decreased to$25.5 millionfor the second quarter of 2026 compared to$28.1 millionfor the same period in 2025, mainly due to the following factors: (i) decreased crew wages and expenses of$10.7 millionfor the second quarter of 2026, compared to$10.9 millionfor the same period in 2025, mainly due to the decreased average number of vessels operating during the second quarter of 2026; (ii) repairs and maintenance expenses, excluding dry-docking expenses, decreased to$2.0 millioncompared to$2.8 millionfor the same period in 2025, mainly due to the decreased average number of vessels operating during the second quarter of 2026 compared to the same period in 2025; and (iii) dry-docking expenses decreased to$2.8 million, related to two fully completed and one partially completed dry-dockings during the second quarter of 2026, compared to$4.1 millionrelated to four fully completed dry-dockings for the same period in 2025. The Company expenses dry-docking and pre-delivery costs as incurred, which vary from period to period. Excluding dry-docking costs and pre-delivery expenses of$3.1 millionand$4.3 millionfor the second quarter of 2026 and 2025, respectively, vessel operating expenses decreased by7%to$22.3 millionduring the second quarter of 2026 from$23.8 millionduring the same period of 2025. Dry-docking expenses are related to the number of dry-dockings in each period while pre-delivery expenses are related to the number of newbuild deliveries and second-hand acquisitions in each period. Some shipping companies may defer and amortize dry-docking expenses, while many do not include dry-docking expenses within vessel operating expenses but present these separately. Depreciation:Depreciation expenses decreased to$14.5 millionfor the second quarter of 2026, compared to$15.1 millionfor the same period in 2025, mainly due to the decreased average number of vessels during the second quarter of 2026. Foreign currency (loss)/gain: Foreign currency gain amounted to$0.8 millionfor the second quarter of 2026, compared to a loss of$6.9 millionfor the same period in 2025, due to the prior period unrealized loss on the valuation of the€100 millionbond as the result of the effect of the appreciation of the EUR against the USD. Gain/(loss) on derivatives: Loss on derivatives amounted to$0.4 millionfor the second quarter of 2026, compared to a gain of$5.7 millionfor the same period in 2025, due to the prior period unrealized gain on foreign currency agreements fair value. Gain on sale of assets:Gain on sale of assets for the second quarter of 2026 amounted to$4.1 million, as a result of a gain from the sale of theMichalis H. No vessels were sold during the same period in 2025. Interest expense: Interest expense decreased to$6.1 millionin the second quarter of 2026 from$7.8 millionfor the same period in 2025, as the result of the decreased weighted average loan outstanding of$531.8 millionduring the second quarter of 2026, compared to$549.8 millionfor the same period in 2025, and the decreased weighted average interest rate of5.10%during the second quarter of 2026, compared to5.69%for the same period in 2025, affected by the lower USD rates environment. Daily vessel operating expenses17: Daily vessel operating expenses, calculated by dividing vessel operating expenses by the ownership days of the relevant period, decreased by6%to$6,207for the second quarter of 2026 compared to$6,607for the same period in 2025. Daily vessel operating expenses excluding dry-docking and predelivery expenses decreased by3%to$5,445for the second quarter of 2026 compared to$5,604for the same period in 2025. Daily general and administrative expenses17: Daily general and administrative expenses, which include management fees payable to our Managers and daily company administration expenses, decreased by4%to$1,738for the second quarter of 2026, compared to$1,809for the same period in 2025, due to the effect of the depreciation of the EUR against the USD. Management Discussion ofSix-month period ended June 30,2026 During the six-month period ended June 30, 2026, we operated in an improved charter market environment compared to the same period in 2025, with increased revenues due to higher charter hires and increased earnings from scrubber-fitted vessels. During the six-month period ended June 30, 2026, we operated 45.07 vessels on average, earning an average TCE of$18,862compared to 46.38 vessels earning an average TCE of$14,756during the same period in 2025. The Company's net income for the six-month period ended June 30, 2026 was$57.4 millioncompared to$8.9 millionduring the same period in 2025. The main factors driving the change in net income are as follows: Net revenues:Net revenues increased by24%to$161.9 millionfor the six-month period ended June 30, 2026, compared to$130.1 millionfor the same period in 2025. The increase was primarily due to higher revenues from charter hires and scrubber-fitted vessels. Vessel operating expenses:Vessel operating expenses decreased by10%to$46.6 millionfor the six-month period ended June 30, 2026 compared to$52.0 millionfor the same period in 2025. The decrease was mainly due to the following factors: (i) lower costs for spare parts, stores, and provisions, which decreased to$11.6 millionfor the six-month period ended June 30, 2026, from$13.2 millionfor the same period in 2025 as a result of the decreased average number of vessels operating during the six-month period ended June 30, 2026; (ii) lower crew wages and expenses which decreased to$21.3 millionfor the six-month period ended June 30, 2026, from$21.5 millionfor the same period in 2025, mainly due to the decreased average number of vessels operating during the six-month period ended June 30, 2026; (iii) lower repair and maintenance expenses, which decreased to$3.5 millionfrom$4.7 millionfor the same period in 2025 due to decreased unscheduled repairs during the six-month period ended June 30, 2026; and (iv) lower dry-docking expenses, which decreased to$2.8 million, related to two fully completed and one partially completed dry-dockings during the six-month period ended June 30, 2026, compared to$5.0 millionrelated to five fully completed dry-dockings for the same period in 2025. The Company expenses dry-docking and pre-delivery costs as incurred, which vary from period to period. Excluding dry-docking costs and pre-delivery expenses of$3.4 millionand$5.2 millionfor the six-month periods ended June 30, 2026 and 2025, respectively, vessel operating expenses decreased by8%to$43.2 millionduring the six-month period ended June 30, 2026 from$46.8 millionduring the same period of 2025. Dry-docking expenses are related to the number of dry-dockings in each period while pre-delivery expenses are related to the number of newbuild deliveries and second-hand acquisitions in each period. Some shipping companies may defer and amortize dry-docking expenses, while many do not include dry-docking expenses within vessel operating expenses but present these separately. Depreciation:Depreciation expenses decreased by$0.9 millionor3%to$28.9 millionfor the six-month period ended June 30, 2026, compared to$29.8 millionfor the same period in 2025, mainly due to the decreased average number of vessels during the six-month period ended June 30, 2026. Foreign currency (loss)/gain: Foreign currency gain amounted to$3.1 millionfor the six-month period ended June 30, 2026, compared to a loss of$9.9 millionfor the same period in 2025, due to the prior period unrealized loss on the valuation of the€100 millionbond as the result of the effect of the appreciation of the EUR against the USD. Gain/(Loss) on derivatives: Loss on derivatives amounted to$1.2 millionfor the six-month period ended June 30, 2026, compared to$8.1 milliongain for the same period in 2025, due to the prior period unrealized gain on foreign currency agreements. Voyage expenses:Voyage expenses increased to$9.6 millionfor the six-month period ended June 30, 2026, from$8.6 millionfor the same period in 2025 mainly due to increased bunker consumption costs for scrubber fitted vessels under charter agreements, which provide for variable consideration based on the bunkers consumption. Gain on sale of assets:Gain on sale of assets for the six-month period ended June 30, 2026 amounted to$4.1 million, as a result of a gain from the sale of theMichalis H. No vessels were sold during the six-month period ended June 30, 2025. Interest expense: Interest expense decreased to$12.6 millionin the six-month period ended June 30, 2026 from$15.2 millionfor the same period in 2025, as the result of the decreased weighted average loan outstanding of$540.1 millionduring the six-month period ended June 30, 2026, compared to$540.7 millionfor the same period in 2025 and the decreased weighted average interest rate of5.13%during the six-month period ended June 30, 2026, compared to5.70%for the same period in 2025, affected by the lower USD rates environment. Daily vessel operating expenses17: Daily vessel operating expenses, calculated by dividing vessel operating expenses by the ownership days of the relevant period, decreased by8%to$5,718for the six-month period ended June 30, 2026 compared to$6,192for the same period in 2025. Daily vessel operating expenses excluding dry-docking and predelivery expenses decreased by5%to$5,297for the six-month period ended June 30, 2026 compared to$5,575for the same period in 2025. Daily general and administrative expenses: Daily general and administrative expenses, which include management fees payable to our Managers and daily company administration expenses, increased by3%to$1,760for the six-month period ended June 30, 2026, compared to$1,710for the same period in 2025, due to the increase in the management fees payable to our Managers as a result of the effect of the appreciation of the EUR versus the USD. Balance sheet Assets held for sale:As of June 30, 2026, we had classified the assets and liabilities directly associated with the vesselsXenia,built in 2006, andPedhoulas Commander, built in 2008, as assets held for sale and presented them on the balance sheet separately under current assets in the amount of$20.9 million, which represented the net book value of the vessels and their inventories. Financial Statements and other financial information The following unaudited interim financial information is presented below: Table 3:Condensed Consolidated Balance Sheets as of December 31, 2025 and June 30, 2026. Table 4:Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2025 and 2026. Table 5:Condensed Consolidated Statement of Shareholders’ Equity for the six-month periods ended June 30, 2025 and 2026. Table 6:Condensed Consolidated Statements of Cash Flows for the six-month periods ended June 30, 2025 and 2026. Financial information reconciliations and other operating data are presented in the following tables: Table 7:Reconciliation of Adjusted Net income, EBITDA, Adjusted EBITDA and Adjusted Earnings per share for the three month and six-month periods ended June 30, 2025 and 2026. Table 8:Fleet data and Average daily indicators reconciliation for the three month and six-month periods ended June 30, 2025 and 2026. Table 9:Market trend information and detailed fleet and employment profile as of July 24, 2026. - EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are non-US GAAP financial measurements.- EBITDA represents Net income before interest, income tax expense, depreciation and amortization.- Adjusted EBITDA represents EBITDA before gain on sale of assets, gain/(loss) on derivatives and gain/(loss) on foreign currency.- Adjusted Net income represents Net income before gain on sale of assets, gain/(loss) on derivatives and gain/(loss) on foreign currency.- Adjusted earnings per share represents Adjusted Net income less preferred dividend divided by the weighted average number of shares.- EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are used as supplemental financial measures by management and external users of financial statements, such as investors, to assess our financial and operating performance.The Company believes that these non-GAAP financial measures assist our management and investors by increasing the comparability of our performance from period to period. The Company believes that including these supplemental financial measures assists our management and investors in: (i) understanding and analyzing the results of our operating and business performance; (ii) selecting between investing in us and other investment alternatives; and (iii) monitoring our financial and operational performance in assessing whether to continue investing in us. The Company believes that EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are useful in evaluating the Company’s operating performance from period to period because the calculation of EBITDA generally eliminates the effects of financings, income taxes and the accounting effects of capital expenditures and acquisitions, the calculation of Adjusted EBITDA and Adjusted Net Income/(loss) generally further eliminates from EBITDA and Net Income/(loss) respectively the effects from impairment and loss on vessels held for sale, gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expenses and gain/(loss) on foreign currency, items which may vary from year to year and for different companies for reasons unrelated to overall operating performance. EBITDA, Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of the Company’s results as reported under US GAAP. While EBITDA and Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share are frequently used as measures of operating results and performance, they are not necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. In evaluating Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share should not be construed as an inference that our future results will be unaffected by the excluded items. _____________ (1) Ownership days represent the aggregate number of days in a period during which each vessel in our fleet has been owned by us.(2) Available days represent the total number of days in a period during which each vessel in our fleet was in our possession, net of off-hire days associated with scheduled maintenance, which includes major repairs, dry-dockings, vessel upgrades or special or intermediate surveys.(3) Average number of vessels in the period is calculated by dividing ownership days in the period by the number of days in that period.(4) Time charter equivalent rate, or TCE rate, represents our charter revenues less commissions and voyage expenses during a period divided by the number of available days during such period. TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on period time charters and spot time charters with daily earnings generated by vessels on voyage charters, because charter rates for vessels on voyage charters are generally not expressed in per day amounts, while charter rates for vessels on period time charters and spot time charters generally are expressed in such amounts. We have only rarely employed our vessels on voyage charters and, as a result, generally our TCE rates approximate our time charter rates.(5) Daily vessel operating expenses are calculated by dividing vessel operating expenses for the relevant period by ownership days for such period. Vessel operating expenses include crewing, insurance, lubricants, spare parts, provisions, stores, repairs, maintenance including dry-docking, statutory and classification expenses and other miscellaneous items.(6) Daily vessel operating expenses excluding dry-docking and pre-delivery expenses are calculated by dividing vessel operating expenses excluding dry-docking and pre-delivery expenses for the relevant period by ownership days for such period. Dry-docking expenses include costs of shipyard, paints and agent expenses and pre-delivery expenses include initially supplied spare parts, stores, provisions and other miscellaneous items provided to a newbuild acquisition prior to their operation.(7) Daily general and administrative expenses are calculated by dividing general and administrative expenses for the relevant period by ownership days for such period. Daily general and administrative expenses include daily management fees payable to our Managers and daily company administration expenses. Market trend information The maritime dry bulk shipping industry is inherently volatile and cyclical in nature, subject to significant market fluctuations and geopolitical disruptions — including but not limited to trade tensions, trade wars, protectionism, port fees, tariffs, regional conflicts, sanctions, and macroeconomic shifts — many of which are outside the control of management, and accordingly, past financial performance should not be considered indicative of, or relied upon as a basis for, future results, projections, or investment decisions. War in Ukraine As a result of the war between Russia and Ukraine that commenced in February 2022, the US, the EU, the UK, Switzerland and other countries have announced unprecedented levels of sanctions and other measures against Russia and certain Russian entities and nationals. We intend to comply with these requirements and will address their potential consequences. We do not have any Ukrainian or Russian crews, and our vessels currently do not sail in the Black Sea. While we conduct only limited operations in Russia, we will continue to monitor the situation to assess whether the conflict could have any impact on our operations or financial performance. Trade disruption in the RedSea, through the Strait of Hormuz and conflicts in the Middle East Due to the attacks on merchant vessels in the southern Red Sea, there has been a disruption in the maritime trade and supply chains through the Mediterranean Sea and the Suez Canal. On November 11, 2025, the Houthis announced a suspension of maritime operations in the Red Sea. Since the beginning of this disruption, we have diverted our fleet from sailing in the Red Sea region. While our vessels currently do not sail through the Red Sea, we are closely monitoring developments, including any signs of a potential normalization of the trade route, in order to assess the potential impact on our operations. The conflict between the United States and Iran, which commenced in March 2026, has resulted in severe and ongoing maritime trade disruption through the Strait of Hormuz, one of the world's most strategically significant maritime chokepoints, through which a substantial portion of global oil, fertilizers and liquified natural gas exports transit, and has triggered a dramatic and immediate spike, globally, in oil and bunker fuel prices. A prolonged closure of the Strait of Hormuz or a broader regional escalation involving Gulf states could affect global development and world trade which is turn could affect dry-bulk commodities' transportation, could increase the Company's operating costs, war-risk insurance premiums, bunker fuel and voyage expenses, and could adversely affect the Company's operations or financial performance. Contracted employment The detailed fleet and employment profile of the Company as of July 24, 2026, is presented in Table 9 below: (1) For existing vessels, the year represents the year built. For any newbuilds, the date shown reflects the expected delivery dates.(2) Quoted charter rates are the recognized daily gross charter rates. For charter parties with variable rates among periods or consecutive charter parties with the same charterer, the recognized gross daily charter rate represents the weighted average gross daily charter rate over the duration of the applicable charter period or series of charter periods, as applicable. In the case of a charter agreement that provides for additional payments, namely ballast bonus to compensate for vessel repositioning, the gross daily charter rate presented has been adjusted to reflect estimated vessel repositioning expenses. Gross charter rates are inclusive of commissions. Net charter rates are charter rates after the payment of commissions. In the case of voyage charters, the charter rate represents revenue recognized on a pro rata basis over the duration of the voyage from load to discharge port less related voyage expenses.(3) Commissions reflect payments made to third-party brokers or our charterers.(4) The start dates listed reflect either actual start dates or, in the case of contracted charters that had not commenced as of July 24, 2026, the scheduled start dates. Actual start dates and redelivery dates may differ from the referenced scheduled start and redelivery dates depending on the terms of the charter and market conditions and do not reflect the options to extend the period time charter.(5) Charterer of MV Kanaris agreed to reimburse us for part of the cost of the scrubbers and BWTS installed on the vessel, which is recorded by increasing the recognized daily charter rate by$634over the remaining tenor of the time charter party.(6) A period time charter for a duration of 3 years at a gross daily charter rate of$22,500plus a one-off$3.0 millionpayment upon charter commencement. The charter agreement also grants the charterer an option to extend the period time charter for an additional year at a gross daily charter rate of$27,500. In September 2024, the Company agreed the extension of the long-term period time charter. The new time charter period will commence in December 2024 with a minimum duration of four years until July 2028 at a gross daily time charter rate of$24,000, plus a one-off$2.5 millionpayment upon the new period charter commencement, plus compensation for the use of the Scrubber.(7) MV Lake Despina was sold and leased back in April 2021 on a bareboat charter basis for a period of seven years with a purchase option in favor of the Company five years and six months following the commencement of the bareboat charter period at a predetermined purchase price. The purchase option was exercised in September 2025, and the vessel will be acquired in October 2026.(8) MV Vassos was sold and leased back in May 2022 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(9) A period time charter for a duration of two and a half years at a gross daily charter rate linked to the BCI 5TC times117%. The charter agreement also grants the charterer an option to extend the period time charter for an additional three years at a gross daily charter rate of$23,000.(10) MV Aghia Sofia was sold and leased back in September 2022 on a bareboat charter basis, for a period of five years with purchase options in favor of the Company commencing three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(11) MV Ammoxostos was sold and leased back in January 2024 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(12) A period time charter of five years at a daily gross charter rate of$11,750for the first two years and a gross daily charter rate linked to the BPI-82 5TC times97%minus$2,150, for the remaining period.(13) MV Pedhoulas Trader was sold and leased back in September 2023 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(14) MV Pedhoulas Cedrus was sold and leased back in February 2021 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(15) MV Rizokarpaso was sold and leased back in November 2023 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(16) MV Troodos Sun was sold and leased back in September 2021 on a bareboat charter basis for a period of ten years, with purchase options in favor of the Company commencing three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(17) A period time charter for a duration of 48 to 60 months at a gross daily charter rate of$25,950. The charter agreement also grants the charterer an option to extend the period time charter for an additional duration of 12 to 30 months at a gross daily charter rate of$26,250.(18) Scrubber benefit was agreed on the basis of consumption of heavy fuel oil and the price differential between the heavy fuel oil and the compliant fuel cost for the voyage and is not included on the daily gross charter rate presented.(19) Scrubber benefit was agreed on the basis of consumption of heavy fuel oil and the price differential between the heavy fuel oil and the compliant fuel cost for the voyage and is included on the daily grosscharter rate presented.(20) A period time charter for a duration of 22 to 26 months at a gross daily charter rate of$20,000. The charter agreement also grants the charterer an option to extend the period time charter to a total duration of 34 to 36 months at the same gross daily charter rate. In December 2025, the charterer exercised the option and extended the period time charter to a total duration of 34 to 36 months.(21) In May 2026, the Company entered into agreements for the sale of two vessels,Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of$12.8 million, andPedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of$14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages.(22) In March 2023, the Company entered into an agreement to sellMV Efrossini,a 2012 Japanese-built, Panamax class vessel to an unaffiliated third party at a gross sale price of$22.5 million. The sale was consummated in July 2023, and upon delivery of the vessel to her new owners, renamedMV Arethousa,she was immediately chartered back by the Company at a gross daily charter rate of$16,050for a period of 10 to 14 months. In July 2024, the Company extended the period of the charter agreement for a duration of five to seven months at a gross daily charter rate of$15,500commencing from September 2024. In October 2024, the Company further extended the period of the charter agreement for an additional duration of four to seven months commencing from February 2025 at a gross daily charter rate of$13,750for the first four months and$15,500 thereafter. In May 2025, the Company extended the period of the charter agreement for an additional duration of three to five months commencing from June 2025 at a gross daily charter rate linked to the BPI-74 4TC times107.5%until 1 September 2025 and$12,500 thereafter. In August 2025, the Company further extended the period of the charter agreement for an additional duration of six to eight months commencing from September 2025 at a gross daily charter rate of$12,500. In March 2026 the Company further extended the period of the charter agreement for an additional duration of six to nine months commencing from May 2026 at a gross daily charter rate of$16,750(23) A spot time charter at a daily gross charter rate of$17,800plus ballast bonus of$0.2 millionupon charter commencement.(24) A spot time charter at a daily gross charter rate of$16,000plus ballast bonus of$0.1 millionupon charter commencement. 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 is dual-listed on the NYSE and Euronext Athens, trading under the symbol “SB”. The Company’s Series C and Series D preferred shares are listed on the NYSE under the symbols “SB.PR.C” and “SB.PR.D”, respectively. About the Report for the Second Quarter and Six-Months 2026 ResultsThe financial statements, and other financial information included in this report, have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP) and, together with the disclosures included herein, fairly present in all material respects the financial condition, results of operations, changes in stockholders' equity, and cash flows of the Company as of, and for, the periods presented in this report, in accordance with Rule 13a-15(e) and Rule 15d-15(e) under the Securities Exchange Act of 1934, as amended. Forward-Looking StatementsThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange 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 that are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, such as the COVID-19 pandemic, 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 dry-bulk vessels, competitive factors in the market in which the Company operates, changes in TCE rates, changes in fuel prices, risks associated with operations outside the United States, general domestic and international political conditions, tariffs imposed as a result of trade war and trade protectionism, uncertainty in the banking sector and other related market volatility, disruption of shipping routes due to political events, risks associated with vessel construction, the inability to develop a liquid trading market for the Company’s shares of common stock on Euronext Athens, 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 undertakings 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: 1Adjusted Net income is a non-GAAP measure. Adjusted Net income represents Net income before impairment and loss on vessels held for sale, gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expense and gain/(loss) on foreign currency. See Table 7.2EBITDA is a non-GAAP measure and represents Net income plus net interest expense, tax, depreciation and amortization. See Table 7. Adjusted EBITDA is a non-GAAP measure and represents EBITDA before gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expenses and gain/(loss) on foreign currency. See Table 7.3Earnings per share ("EPS") and Adjusted EPS represent Net Income and Adjusted Net income less preferred dividend divided by the weighted average number of shares respectively. See Table 7.4Time charter equivalent ("TCE") rate represents charter revenues less commissions and voyage expenses divided by the number of available days. See Table 8.5Daily vessel operating expenses are calculated by dividing vessel operating expenses for the relevant period by the number of ownership days for such period. See Table 8. 6Daily vessel operating expenses excluding dry-docking and pre-delivery expenses are calculated by dividing vessel operating expenses excluding dry-docking and pre-deliveryexpenses for the relevant period by the number of ownership days for such period. See Table 8.7Daily general and administrative expenses are calculated by dividing general and administrative expenses for the relevant period by the number of ownership days for such period. See Table 8.8Total Cash represents Cash and cash equivalents plus Time deposits and Restricted cash.9Undrawn borrowing capacity under revolving reducing credit facilities.10Unsecured debt represents the five-year tenor unsecured non-amortizing bond, net of deferred financing costs, maturing in February 2027.11Secured debt represents Long-term debt plus current portion of long-term debt, net of deferred financing costs.12Total Debt represents Unsecured debt plus Secured debt.13Net debt per vessel represents Total Debt less Total Cash divided by the number of vessels at period's end.14Safety Management Overseas S.A., Safe Bulkers Management Monaco Inc., and Safe Bulkers Management Limited, each of which is referred to herein as "our Manager" and collectively "our Managers".15Consolidated leverage is a non-GAAP measure and represents total consolidated liabilities divided by total consolidated assets. Total consolidated assets are based on the market value of all vessels, as provided by independent broker valuers on quarter-end, owned or leased on a finance lease taking into account their employment, and the book value of all other assets. This measure assists our management and investors by increasing the comparability of our leverage from period to period.16The fleet scrap value is calculated on the basis of fleet aggregate light weight tons ("lwt"), excluding any held for sale vessels, and market scrap rate of$470.0/lwt ton (Clarksons data) on June 30, 2026 and$470.0/lwt ton (Clarksons data) on July 24, 2026.17See Table 8
Safe Bulkers, Inc. Reports First Quarter 2026 Results and Declares Dividend on Common Stock GlobeNewswire
MONACO, June 17, 2026 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the "Company") (NYSE/Euronext Athens: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three-month period ended March 31, 2026. The Board of Directors (the "Board") of the Company also declared a cash dividend of $0.06 per share of outstanding common stock. ____________________1Adjusted Net income is a non-GAAP measure. Adjusted Net income represents Net income before impairment and loss on vessels held for sale, gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expense and gain/(loss) on foreign currency. See Table 3.2EBITDA is a non-GAAP measure and represents Net income plus net interest expense, tax, depreciation and amortization. See Table 3. Adjusted EBITDA is a non-GAAP measure and represents EBITDA before gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expenses and gain/(loss) on foreign currency. See Table 3.3Earnings per share ("EPS") and Adjusted EPS represent Net Income and Adjusted Net income less preferred dividend divided by the weighted average number of shares respectively. See Table 3.4Time charter equivalent ("TCE") rate represents charter revenues less commissions and voyage expenses divided by the number of available days. See Table 4.5Daily vessel operating expenses are calculated by dividing vessel operating expenses for the relevant period by the number of ownership days for such period. See Table 4.6Daily vessel operating expenses excluding dry-docking and pre-delivery expenses are calculated by dividing vessel operating expenses excluding dry-docking and pre-deliveryexpenses for the relevant period by the number of ownership days for such period. See Table 4.7Daily general and administrative expenses are calculated by dividing general and administrative expenses for the relevant period by the number of ownership days for such period. See Table 4. ____________________8Total Cash represents Cash and cash equivalents plus Time deposits and Restricted cash.9Undrawn borrowing capacity under revolving reducing credit facilities.10Unsecured debt represents the five-year tenor unsecured non-amortizing bond, net of deferred financing costs, maturing in February 2027.11Secured debt represents Long-term debt plus current portion of long-term debt, net of deferred financing costs.12Total Debt represents Unsecured debt plus Secured debt.13Net debt per vessel represents Total Debt less Total Cash divided by the number of vessels at period's end. Management Commentary Dr. Loukas Barmparis, President of the Company, said: "The increase of dividend to 6 cents per common share, and the opportunity to access European investors through the parallel listing in Euronext Athens, a platform of eight stock exchanges in Europe, are the two highlights of the previous period. In the first quarter of 2026, we increased our EPS to 18 cents, and continued the renewal of our fleet with four newbuild orders and the sale of our oldest Kamsarmax and our Post-panamax vessels." Safe Bulkers, Inc. Becomes the First Shipping Company with Common Stock trading on both the NYSE and Euronext Athens In June 2026, the Company’s issued shares of common stock commenced trading on Euronext Athens under the ticker symbol “SB” and ISIN code: MHY7388L1039. Euronext platform provides access to European capital markets, including Oslo, Milan, Paris, Brussels, Amsterdam, Dublin, Lisbon and Athens. By listing its common stock on the Main Market of the Regulated Securities Market of Euronext Athens, the Company aims to broaden and diversify its shareholder base in Europe. The Company’s common stock will continue to be primarily listed on NYSE. Company’s series C preferred stock and series D preferred stock are listed only on NYSE. Issuance of the 2025 Sustainability Report In May 2026, the Company made publicly available the 2025 Sustainability Report which has been prepared in accordance with the Global Reporting Initiative (''GRI'') Sustainability Reporting Guidelines, in accordance with the GRI Standards and the Sustainability Accounting Standards Board (''SASB'') recommendation for maritime transport, alongside additional indicators that are materially important to the Company and its stakeholders. The report reflects the Company's continued commitment to proactively managing environmental risks, supporting the communities in which it operates, and strengthening its governance framework in line with evolving regulatory requirements and stakeholders' expectations. The report is available for download and can be accessed from the Company's website using the link:www.safebulkers.com/sustainability2025 Ten Million Shares of Common Stock Repurchase Program In December 2025, the Company authorized a program under which it might from time to time in the future purchase up to 10,000,000 shares of the Company’s common stock. Should the maximum number of shares of the Company’s common stock be purchased pursuant to the aforementioned program, it would represent approximately 9.8% of the shares of the Company’s common stock outstanding and 20.0% of its public float. The program does not obligate the Company to purchase shares of the Company’s common stock, and it may be modified or terminated at any time without prior notice. Any such purchases would be made in NYSE in the open market in compliance with applicable laws and regulations, and that purchases on the open market would be conducted within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934, as amended. As of June 12, 2026, the Company had purchased and cancelled 515,469 shares of common stock under the aforementioned program. The purchases were funded using the Company’s existing cash resources. Environmental Investments - Dry-Dockings The Company is gradually renewing its fleet by ordering newbuilds with advanced energy efficiency characteristics designed to meet the International Maritime Organization (the "IMO") regulations related to the Phase 3 reduction of greenhouse gas emissions (the "IMO GHG Phase 3") and nitrogen oxide emissions (the "IMO NOx Tier III"), while selectively selling older vessels. In parallel, the Company is continuing the environmental upgrade program of its existing fleet, having upgraded 25 vessels as of June 12, 2026. The cost of low-friction paint applications that are part of the environmental upgrades is recorded as operating expenses, while the cost of energy saving devices is capitalized and recorded as capital expenditures. Fleet renewal and environmental upgrades in existing fleet lead to fuel savings and lower GHG emissions. As of June 12, 2026, the Company expects 123 down time days for the second quarter of 2026 and 156 down time days for the third quarter of 2026 relating to scheduled vessel repairs and upgrades. Fleet Update As of June 12, 2026, we had a fleet of 45 vessels, two of which are held for sale, consisting of eight Panamax, 13 Kamsarmax, 17 Post-Panamax and seven Capesize class vessels, with a total carrying capacity of 4.5 million dwt and an average age of 10.5 years. Our fleet includes 13 IMO GHG Phase 3 - NOx Tier III ships built from 2022 or later and 11 eco-ships built from 2014 onwards. Furthermore, we have 20 vessels equipped with exhaust gas cleaning devices ("Scrubbers''), including all of our Capesize class vessels, which generate additional earnings under charter agreements, providing for variable consideration based on bunker consumption. Orderbook As of June 12, 2026, we had an orderbook of 11 IMO GHG Phase 3 - NOx Tier III newbuilds of which 10 Kamsarmax class, including two dual-fuel methanol vessels, and one Capesize class vessel. Three of those Kamsarmax newbuilds are scheduled to be delivered in 2026, two in 2027, one in 2028 and four in 2029. The Capesize class newbuild is scheduled to be delivered in 2029. In more detail, since January 1, 2026, the Company has entered into the following agreements: In January 2026, we entered into agreements for the acquisition of two 82,500 dwt, dry-bulk Chinese Kamsarmax class newbuild vessels, with scheduled deliveries in the third quarter of 2028 and the first quarter of 2029, respectively. In May 2026, we entered into agreements for the acquisition of two 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessels, with scheduled deliveries in the second and third quarter of 2029, respectively. In June 2026, we entered into an agreement for the acquisition of one 82,000 dwt, dry-bulk Japanese Kamsarmax class newbuild vessel with scheduled delivery in the first half of 2029. Kamsarmax newbuild orders are sister vessels to existing vessels in our fleet. In June 2026, we entered into an agreement to acquire a 180,000 dwt, dry-bulk Japanese Capesize class newbuild vessel with schedule delivery in the second half of 2029. Newbuild deliveries In April 2026, the Company took delivery of the Japanese-built Kamsarmax classKaterina, its thirteenth IMO GHG Phase 3 - NOx Tier III newbuild vessel. Vessel sales In February 2026, we entered into an agreement for the sale of theMichalis H, a 2012 Chinese-built, Capesize class dry-bulk vessel, for a gross sale price of $35.2 million. The vessel was delivered to her new owners in April 2026. In May 2026, we entered into agreements for the sale of two vessels,Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of $13.0 million, andPedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of $14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages. Chartering our Fleet Our vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. We intend to employ our vessels under both period time charters and spot time charters, according to our assessment of market conditions. Our customers represent some of the world’s largest consumers of marine drybulk transportation services. Period time charters provide us with visible and relatively stable cash flows, while the vessels we deploy in the spot market allow us to maintain our flexibility in low charter market conditions as well as provide an opportunity for a potential upside in our revenue when charter market conditions improve. The chartering of our vessels is arranged by our Managers14without any management commission. During the first quarter of 2026, we operated 45.00 vessels on average, earning a TCE of $17,095, compared to 46.00 vessels earning a TCE of $14,655 during the same period in 2025. As of June 12, 2026,we employed, or had contracted to employ: (i) 14 vessels in the spot time charter market (with an original duration of up to three months) and (ii) 32 vessels in the period time charter market (with an original duration in excess of three months). Of the vessels chartered in the period time charter market, six have an original duration of more than two years. As of June 12, 2026, the average remaining charter duration across our fleet was 0.4 years and we had contracted revenue of approximately $161.1 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the additional compensation related to the use of Scrubbers. In relation to our Capesize class vessels, as of June 12, 2026, all seven were chartered under period time charters, five of which have remaining charter durations exceeding one year. The average remaining charter duration of our Capesize class vessels was 1.7 years and the average daily charter hire was $24,595, resulting in a contracted revenue of approximately $109.7 million, net of commissions and excluding the Scrubber benefit. Our contracted fleet employment profile as of June 12, 2026, is presented in Table 1 below. Debt As of March 31, 2026, our consolidated debt before deferred financing costs was $552.1 million, including the €100 million - 2.95% p.a. fixed coupon, non-amortizing, unsecured bond issued in February 2022, maturing in February 2027. Our consolidated leverage,15based on vessels' market valuations, was approximately 34%. Our weighted average interest rate during the three-month period ended March 31, 2026 was 5.15% inclusive of the applicable loan margin. During the three-month period ended March 31, 2026, we made scheduled principal payments of $6.1 million, voluntary principal payments of $8.0 million and drawings of $20.0 million under our existing revolving and term loan facilities. The repayment schedule of our debt as of March 31, 2026, is presented in Table 2 below: ____________________14Safety Management Overseas S.A., Safe Bulkers Management Monaco Inc., and Safe Bulkers Management Limited, each of which is referred to herein as "our Manager" and collectively "our Managers".15Consolidated leverage is a non-GAAP measure and represents total consolidated liabilities divided by total consolidated assets. Total consolidated assets are based on the market value of all vessels, as provided by independent broker valuers on quarter-end, owned or leased on a finance lease taking into account their employment, and the book value of all other assets. This measure assists our management and investors by increasing the comparability of our leverage from period to period.16The fleet scrap value is calculated on the basis of fleet aggregate light weight tons ("lwt"), excluding any held for sale vessels, and market scrap rate of $435.0/lwt ton (Clarksons data) on March 31, 2026 and $460.0/lwt ton (Clarksons data) on June 12, 2026. Liquidity, capital resources, capital expenditure requirements and debt as ofMarch 31, 2026 As of March 31, 2026, we had a fleet of 45 vessels, one of which was held for sale, and an orderbook of eight newbuilds. In relation to our orderbook, we had paid $97.8 million and had $227.5 million of remaining capital expenditure requirements. We had $181.2 million in cash, cash equivalents, bank time deposits, and restricted cash, and had $193.2 million in undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our held for sale vessel amount to $35.2 million. Furthermore, we had contracted revenue of approximately $164.1 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity in connection with the financing of eight newbuilds upon their delivery. In relation to capital expenditure requirements of the eight newbuilds, $109.3 million was payable in 2026, $57.8 million in 2027, $42.0 million in 2028 and $18.4 million in 2029. The scrap value16of our fleet was $290.4 million and the outstanding consolidated debt before deferred financing costs was $552.1 million, including the unsecured bond. Liquidity, capital resources, capital expenditure requirements and debt as ofJune 12, 2026 As of June 12, 2026, we had a fleet of 45 vessels, two of which were held for sale, and an orderbook of 11 newbuilds. In relation to our orderbook, excluding the Capesize class newbuild, we had paid $106.3 million and had $301.4 million of remaining capital expenditure requirements. The Capesize class newbuild is financed through a finance lease under a bareboat charter agreement, with purchase option for the Company. We had $166.8 million in cash, cash equivalents, bank time deposits, restricted cash, and had $208.1 million in undrawn borrowing capacity available under existing revolving reducing credit facilities. The gross sale proceeds of our two held for sale vessels amount to $27.7 million. Furthermore, we had contracted revenue of approximately $161.1 million, net of commissions, from our non-cancellable spot and period time charter contracts excluding the Scrubber benefit, and additional borrowing capacity in connection to one debt-free vessel and ten newbuilds upon their delivery. In relation to capital expenditure requirements of the ten newbuilds, excluding the Capesize class newbuild which will be acquired through a finance lease, $85.5 million is payable in 2026, $81.5 million in 2027, $42.9 million in 2028 and $91.5 million in 2029. The scrap value16of the fleet, excluding our held for sale vessels, was $301.2 million and the outstanding consolidated debt before deferred financing costs was $522.7 million, including the unsecured bond. Dividend Policy On June 17, 2026, the Board of the Company declared a cash dividend on the Company’s common stock of $0.06 per share which is payable on July 16, 2026, to the shareholders of record of the Company’s common stock at the close of trading on June 30, 2026. The record date is common for both NYSE and Euronext Athens markets. The ex-dividend date established by the NYSE is expected to be June 30, 2026. The ex-dividend date for dividends payable to holders of shares via Euronext Securities Athens is expected to be June 29, 2026. As of June 12, 2026, the Company had 101,826,580 shares of common stock issued and outstanding. In April 2026, the Board of the Company declared a cash dividend of $0.50 per share on each of its Series C preferred shares (NYSE: SB.PR.C) and Series D preferred shares (NYSE: SB.PR.D) for the period from January 30, 2026 to April 29, 2026. The dividend was paid on April 30, 2026 to all shareholders of record as of April 17, 2026 of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. In February 2026, the Board of the Company declared a cash dividend on the Company's common stock of $0.05 per share which was paid on March 18, 2026, to the shareholders of record of the Company's common stock at the close of trading on March 2, 2026. In January 2026, the Board of the Company declared a cash dividend of $0.50 per share on each of its Series C preferred shares (NYSE: SB.PR.C) and Series D preferred shares (NYSE: SB.PR.D) for the period from October 30, 2025, to January 29, 2026 which was paid on January 30, 2026, to all shareholders of record as of January 16, 2026, of the Series C Preferred Shares and of the Series D Preferred Shares, respectively. The declaration and payment of dividends, if any, will always be subject to the discretion of the Board of the Company. There is no guarantee that the Company’s Board will determine to issue cash dividends in the future. The timing and amount of any dividends declared will depend on, among other things: (i) the Company’s earnings, fleet employment profile, financial condition, cash requirements, and available sources of liquidity; (ii) decisions in relation to the Company’s growth, fleet renewal, and leverage strategies; (iii) provisions of Marshall Islands and Liberian law governing the payment of dividends; (iv) restrictive covenants in the Company’s existing and future debt instruments; and (v) global economic and financial conditions. NYSE Dividend Information For shareholders who hold their shares of Common Stock in NYSE through DTC, no action is required and dividend payments will proceed as previously. Euronext Athens Dividend Information Dividends declared by the Company are denominated in U.S. dollars. The shares of Common Stock on the NYSE and Euronext Athens will have the same record date for dividend payments. The ex-dividend date for Euronext Athens is expected to be one business day earlier than the ex-dividend date for the NYSE, taking into account the prevailing settlement rules in these markets. For shareholders who hold their shares of Common Stock through Euronext Securities Athens, dividends will be paid in U.S. dollars to the relevant Euronext Securities Athens participant. The payment will be transmitted through intermediaries, including DTC, and there may be additional time required for receipt following the payment date, including due to time zone considerations. Shareholders holding shares of Common Stock through Euronext Securities Athens and wishing to receive dividends in euros should consult their Euronext Securities Athens participant, broker, or custodian regarding the applicable currency conversion arrangements and any associated fees. War in Ukraine As a result of the war between Russia and Ukraine that commenced in February 2022, the US, the EU, the UK, Switzerland and other countries have announced unprecedented levels of sanctions and other measures against Russia and certain Russian entities and nationals. We intend to comply with these requirements and will address their potential consequences. We do not have any Ukrainian or Russian crews, and our vessels currently do not sail in the Black Sea. While we conduct only limited operations in Russia, we will continue to monitor the situation to assess whether the conflict could have any impact on our operations or financial performance. Trade disruption in the RedSea, through the Strait of Hormuz and conflicts in the Middle East Due to the attacks on merchant vessels in the southern Red Sea, there has been a disruption in the maritime trade and supply chains through the Mediterranean Sea and the Suez Canal. On November 11, 2025, the Houthis announced a suspension of maritime operations in the Red Sea. Since the beginning of this disruption, we have diverted our fleet from sailing in the Red Sea region. While our vessels currently do not sail through the Red Sea, we are closely monitoring developments, including any signs of a potential normalization of the trade route, in order to assess the potential impact on our operations. The conflict between the United States and Iran, which commenced in March 2026, has resulted in severe and ongoing maritime trade disruption through the Strait of Hormuz, one of the world's most strategically significant maritime chokepoints, through which a substantial portion of global oil, fertilizers and liquified natural gas exports transit, and has triggered a dramatic and immediate spike, globally, in oil and bunker fuel prices. A prolonged closure of the Strait of Hormuz or a broader regional escalation involving Gulf states could increase the Company's operating costs, war-risk insurance premiums, bunker fuel and voyage expenses, and could adversely affect the Company's operations or financial performance. Conference CallOn Thursday, June 18, 2026, at 10:30 U.S. Eastern Time / 17:30 Eastern European Time, the Company’s management team will host a conference call to discuss the Company’s financial results. Conference Call Details:Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In), or +0 800 756 3429 (UK Toll-Free Dial In) or +00 800 1612 2075 690 (Greece Toll-Free Dial In). Please quote “Safe Bulkers” to the operator and/or conference ID 13760931. Clickherefor additional participant International Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Clickherefor the call me option. Slides and Audio Webcast:A live webcast of the conference call and accompanying slides, will be available through the Company’s website, where it will also be archived for later access. To listen to the archived audio file, visit our website at www.safebulkers.com and click on Events & Presentations. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. Management Discussion ofFirstQuarter2026Results During the first quarter of 2026, we operated in an improved charter market environment compared to the same period in 2025, with increased revenues due to higher charter hires and slightly increased earnings from scrubber-fitted vessels. During the first quarter of 2026, we operated 45.00 vessels on average, earning an average TCE of $17,095 compared to 46.00 vessels earning an average TCE of $14,655 during the same period in 2025. The Company's net income for the first quarter of 2026 was $22.2 million compared to $7.2 million during the same period in 2025. The main factors driving the change in net income are as follows: Net revenues:Net revenues increased by 16% to $74.4 million for the first quarter of 2026, compared to $64.3 million for the same period in 2025. The increase was primarily due to higher revenues from charter hires and scrubber-fitted vessels. Vessel operating expenses:Vessel operating expenses decreased to $21.2 million for the first quarter of 2026 compared to $23.9 million for the same period in 2025, mainly due to the following factors: (i) spare parts, stores and provisions decreased to $5.2 million compared to $6.8 million for the same period in 2025, mainly due to the decreased average number of vessels operating during the first quarter of 2026 compared to the same period in 2025; and (ii) no dry-docking expenses incurred during the first quarter of 2026, compared to $0.9 million related to one fully completed dry-docking for the same period in 2025. The Company expenses dry-docking and pre-delivery costs as incurred, which vary from period to period. Excluding dry-docking costs and pre-delivery expenses of $0.3 million and $0.9 million for the first quarter of 2026 and 2025, respectively, vessel operating expenses decreased by 9% to $20.8 million during the first quarter of 2026 from $23.0 million during the same period of 2025. Dry-docking expenses are related to the number of dry-dockings in each period while pre-delivery expenses are related to the number of newbuild deliveries and second-hand acquisitions in each period. Some shipping companies may defer and amortize dry-docking expenses, while many do not include dry-docking expenses within vessel operating expenses but present these separately. Depreciation:Depreciation expenses decreased to $14.4 million for the first quarter of 2026, compared to $14.7 million for the same period in 2025, mainly due to the decreased number of vessels during the first quarter of 2026. Foreign currency (loss)/gain: Foreign currency gain amounted to $2.3 million for the first quarter of 2026, compared to a loss of $2.9 million for the same period in 2025, due to the prior period unrealized loss on the valuation of the €100 million bond as the result of the effect of the appreciation of the EUR against the USD. Gain/(loss) on derivatives: Loss on derivatives amounted to $0.8 million for the first quarter of 2026, compared to a gain of $2.4 million for the same period in 2025, due to the prior period unrealized gain on foreign currency agreements fair value. Voyage expenses:Voyage expenses increased to $5.2 million for the first quarter of 2026, from $4.2 million for the same period in 2025, mainly due to increased bunker consumption costs for scrubber fitted vessels under charter agreements, which provide for variable consideration based on the bunker consumption. Interest expense: Interest expense decreased to $6.5 million in the first quarter of 2026 from $7.4 million for the same period in 2025, as the net result of the increased weighted average loan outstanding of $549.0 million during the first quarter of 2026, compared to $525.6 million for the same period in 2025, and the decreased weighted average interest rate of 5.15% during the first quarter of 2026, compared to 5.77% for the same period in 2025, affected by the lower USD rates environment. Daily vessel operating expenses17: Daily vessel operating expenses, calculated by dividing vessel operating expenses by the ownership days of the relevant period, decreased by 9% to $5,223 for the first quarter of 2026 compared to $5,765 for the same period in 2025. Daily vessel operating expenses excluding dry-docking and predelivery expenses decreased by 7% to $5,147 for the first quarter of 2026 compared to $5,546 for the same period in 2025. Daily general and administrative expenses17: Daily general and administrative expenses, which include management fees payable to our Managers and daily company administration expenses, increased by 11% to $1,783 for the first quarter of 2026, compared to $1,608 for the same period in 2025, due to the effect of the appreciation of the EUR against the USD. ____________________17See table 4 - EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are non-US GAAP financial measurements.- EBITDA represents Net income before interest, income tax expense, depreciation and amortization.- Adjusted EBITDA represents EBITDA before gain/(loss) on derivatives and gain/(loss) on foreign currency.- Adjusted Net income represents Net income before gain/(loss) on derivatives and gain/(loss) on foreign currency.- Adjusted earnings per share represents Adjusted Net income less preferred dividend divided by the weighted average number of shares.- EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are used as supplemental financial measures by management and external users of financial statements, such as investors, to assess our financial and operating performance.The Company believes that these non-GAAP financial measures assist our management and investors by increasing the comparability of our performance from period to period. The Company believes that including these supplemental financial measures assists our management and investors in: (i) understanding and analyzing the results of our operating and business performance; (ii) selecting between investing in us and other investment alternatives; and (iii) monitoring our financial and operational performance in assessing whether to continue investing in us. The Company believes that EBITDA, Adjusted EBITDA, Adjusted Net income and Adjusted earnings per share are useful in evaluating the Company’s operating performance from period to period because the calculation of EBITDA generally eliminates the effects of financings, income taxes and the accounting effects of capital expenditures and acquisitions, the calculation of Adjusted EBITDA and Adjusted Net Income/(loss) generally further eliminates from EBITDA and Net Income/(loss) respectively the effects from impairment and loss on vessels held for sale, gain/(loss) on sale of assets, gain/(loss) on derivatives, early redelivery income/(cost), other operating expenses and gain/(loss) on foreign currency, items which may vary from year to year and for different companies for reasons unrelated to overall operating performance. EBITDA, Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analysis of the Company’s results as reported under US GAAP. While EBITDA and Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share are frequently used as measures of operating results and performance, they are not necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. In evaluating Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA, Adjusted Net income/(loss) and Adjusted earnings/(loss) per share should not be construed as an inference that our future results will be unaffected by the excluded items. ____________________(1) Ownership days represent the aggregate number of days in a period during which each vessel in our fleet has been owned by us.(2) Available days represent the total number of days in a period during which each vessel in our fleet was in our possession, net of off-hire days associated with scheduled maintenance, which includes major repairs, dry-dockings, vessel upgrades or special or intermediate surveys.(3) Average number of vessels in the period is calculated by dividing ownership days in the period by the number of days in that period.(4) Time charter equivalent rate, or TCE rate, represents our charter revenues less commissions and voyage expenses during a period divided by the number of available days during such period. TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on period time charters and spot time charters with daily earnings generated by vessels on voyage charters, because charter rates for vessels on voyage charters are generally not expressed in per day amounts, while charter rates for vessels on period time charters and spot time charters generally are expressed in such amounts. We have only rarely employed our vessels on voyage charters and, as a result, generally our TCE rates approximate our time charter rates.(5) Daily vessel operating expenses are calculated by dividing vessel operating expenses for the relevant period by ownership days for such period. Vessel operating expenses include crewing, insurance, lubricants, spare parts, provisions, stores, repairs, maintenance including dry-docking, statutory and classification expenses and other miscellaneous items.(6) Daily vessel operating expenses excluding dry-docking and pre-delivery expenses are calculated by dividing vessel operating expenses excluding dry-docking and pre-delivery expenses for the relevant period by ownership days for such period. Dry-docking expenses include costs of shipyard, paints and agent expenses and pre-delivery expenses include initially supplied spare parts, stores, provisions and other miscellaneous items provided to a newbuild acquisition prior to their operation.(7) Daily general and administrative expenses are calculated by dividing general and administrative expenses for the relevant period by ownership days for such period. Daily general and administrative expenses include daily management fees payable to our Managers and daily company administration expenses. (1) For existing vessels, the year represents the year built. For any newbuilds, the date shown reflects the expected delivery dates.(2) Quoted charter rates are the recognized daily gross charter rates. For charter parties with variable rates among periods or consecutive charter parties with the same charterer, the recognized gross daily charter rate represents the weighted average gross daily charter rate over the duration of the applicable charter period or series of charter periods, as applicable. In the case of a charter agreement that provides for additional payments, namely ballast bonus to compensate for vessel repositioning, the gross daily charter rate presented has been adjusted to reflect estimated vessel repositioning expenses. Gross charter rates are inclusive of commissions. Net charter rates are charter rates after the payment of commissions. In the case of voyage charters, the charter rate represents revenue recognized on a pro rata basis over the duration of the voyage from load to discharge port less related voyage expenses.(3) Commissions reflect payments made to third-party brokers or our charterers.(4) The start dates listed reflect either actual start dates or, in the case of contracted charters that had not commenced as of June 12, 2026, the scheduled start dates. Actual start dates and redelivery dates may differ from the referenced scheduled start and redelivery dates depending on the terms of the charter and market conditions and do not reflect the options to extend the period time charter.(5) Charterer of MV Kanaris agreed to reimburse us for part of the cost of the scrubbers and BWTS installed on the vessel, which is recorded by increasing the recognized daily charter rate by $634 over the remaining tenor of the time charter party.(6) A period time charter for a duration of 3 years at a gross daily charter rate of $22,500 plus a one-off $3.0 million payment upon charter commencement. The charter agreement also grants the charterer an option to extend the period time charter for an additional year at a gross daily charter rate of $27,500. In September 2024, the Company agreed the extension of the long-term period time charter. The new time charter period will commence in December 2024 with a minimum duration of four years until July 2028 at a gross daily time charter rate of $24,000, plus a one-off $2.5 million payment upon the new period charter commencement, plus compensation for the use of the Scrubber.(7) MV Lake Despina was sold and leased back in April 2021 on a bareboat charter basis for a period of seven years with a purchase option in favor of the Company five years and six months following the commencement of the bareboat charter period at a predetermined purchase price. The purchase option was exercised in September 2025, and the vessel will be acquired in October 2026.(8) MV Vassos was sold and leased back in May 2022 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(9) A period time charter for a duration of two and a half years at a gross daily charter rate linked to the BCI 5TC times 117%. The charter agreement also grants the charterer an option to extend the period time charter for an additional three years at a gross daily charter rate of $23,000.(10) MV Aghia Sofia was sold and leased back in September 2022 on a bareboat charter basis, for a period of five years with purchase options in favor of the Company commencing three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(11) MV Ammoxostos was sold and leased back in January 2024 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(12) A period time charter of five years at a daily gross charter rate of $11,750 for the first two years and a gross daily charter rate linked to the BPI-82 5TC times 97% minus $2,150, for the remaining period.(13) MV Pedhoulas Trader was sold and leased back in September 2023 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(14) MV Pedhoulas Cedrus was sold and leased back in February 2021 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(15) MV Rizokarpaso was sold and leased back in November 2023 on a bareboat charter basis for a period of ten years with a purchase option in favor of the Company three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(16) MV Troodos Sun was sold and leased back in September 2021 on a bareboat charter basis for a period of ten years, with purchase options in favor of the Company commencing three years following the commencement of the bareboat charter period and a purchase obligation at the end of the bareboat charter period, all at predetermined purchase prices.(17) A period time charter for a duration of 48 to 60 months at a gross daily charter rate of $25,950. The charter agreement also grants the charterer an option to extend the period time charter for an additional duration of 12 to 30 months at a gross daily charter rate of $26,250.(18) Scrubber benefit was agreed on the basis of consumption of heavy fuel oil and the price differential between the heavy fuel oil and the compliant fuel cost for the voyage and is not included on the daily gross charter rate presented.(19) Scrubber benefit was agreed on the basis of consumption of heavy fuel oil and the price differential between the heavy fuel oil and the compliant fuel cost for the voyage and is included on the daily gross charter rate presented.(20) A period time charter for a duration of 22 to 26 months at a gross daily charter rate of $20,000. The charter agreement also grants the charterer an option to extend the period time charter to a total duration of 34 to 36 months at the same gross daily charter rate. In December 2025, the charterer exercised the option and extended the period time charter to a total duration of 34 to 36 months.(21) In May 2026, the Company entered into agreements for the sale of two vessels,Xenia, a 2006 Japanese-built Post-Panamax dry bulk vessel, for a gross sale price of $13.0 million, andPedhoulas Commander, a 2008 Japanese-built Kamsarmax dry bulk vessel, for a gross sale price of $14.7 million. Both vessels are expected to be delivered to their new owners with their scheduled dry-dockings due, upon completion of their current voyages.(22) In March 2023, the Company entered into an agreement to sellMV Efrossini,a 2012 Japanese-built, Panamax class vessel to an unaffiliated third party at a gross sale price of $22.5 million. The sale was consummated in July 2023, and upon delivery of the vessel to her new owners, renamedMV Arethousa,she was immediately chartered back by the Company at a gross daily charter rate of $16,050 for a period of 10 to 14 months. In July 2024, the Company extended the period of the charter agreement for a duration of five to seven months at a gross daily charter rate of $15,500 commencing from September 2024. In October 2024, the Company further extended the period of the charter agreement for an additional duration of four to seven months commencing from February 2025 at a gross daily charter rate of $13,750 for the first four months and $15,500 thereafter. In May 2025, the Company extended the period of the charter agreement for an additional duration of three to five months commencing from June 2025 at a gross daily charter rate linked to the BPI-74 4TC times 107.5% until 1 September 2025 and $12,500 thereafter. In August 2025, the Company further extended the period of the charter agreement for an additional duration of six to eight months commencing from September 2025 at a gross daily charter rate of $12,500. In March 2026 the Company further extended the period of the charter agreement for an additional duration of six to nine months commencing from May 2026 at a gross daily charter rate of $16,750(23) A spot time charter at a daily gross charter rate of $24,500 plus ballast bonus of $0.2 million upon charter commencement.(24) A spot time charter at a daily gross charter rate of $20,800 plus ballast bonus of $0.2 million upon charter commencement.(25) A spot time charter at a daily gross charter rate of $19,500 plus ballast bonus of $0.1 million upon charter commencement.(26) A spot time charter at a daily gross charter rate of $20,750 plus ballast bonus of $0.2 million upon charter commencement. 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 is dual-listed on the NYSE and Euronext Athens, trading under the symbol “SB”. The Company’s Series C and Series D preferred shares are listed on the NYSE under the symbols “SB.PR.C” and “SB.PR.D”, respectively. Forward-Looking StatementsThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange 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 that are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, such as the COVID-19 pandemic, 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 dry-bulk vessels, competitive factors in the market in which the Company operates, changes in TCE rates, changes in fuel prices, risks associated with operations outside the United States, general domestic and international political conditions, tariffs imposed as a result of trade war and trade protectionism, uncertainty in the banking sector and other related market volatility, disruption of shipping routes due to political events, risks associated with vessel construction, the inability to develop a liquid trading market for the Company’s shares of common stock on Euronext Athens, 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 undertakings 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 BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 21 11888400+357 25 887200E-Mail:directors@safebulkers.com Investor Relations / Media Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230 Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax: (212) 661-7526E-Mail:safebulkers@capitallink.com Anna WichmannCapital Link AthensTel +30-210-6109-800E-Mail:safebulkers@capitallink.com
Paschal Sheehy Southern Editor There is every chance that, over the next decade or so, billions of euro will be spent on an upgrade of public transport systems in Cork. In its scale, it is an unprecedented investment. It offers an opportunity to re-imagine the public transport networks of the city in a way that hasn't been possible before. Through this investment, an integrated, user-friendly and environmentally-friendly public transport system is not only achievable, it is what is being planned to coax people away from their cars and create an alternative transport system that will be sustainable into the future. Furthermore, investments to date support the view that the projects currently in planning are deliverable: we have seen enough from the spend so far to believe that these projects will actually be delivered. They will certainly be needed. The population of Cork, based on the 2022 Census, is around 224,000 people, an increase of more than 6% on the census returns for 2016. Under Project Ireland 2040, Cork will be Ireland's fastest-growing city region, with a population growth of between 50% and 60% envisaged, to one third of a million people by 2040. The National Development Plan positions Cork as the primary economic counterbalance to Dublin. That is the reason why so much investment is being directed this way. But there are challenges too. And how those challenges are dealt with will dictate the quality of the public transport system we end up with by, say, 2050, roughly a quarter of a century from now. Just over a month ago, Transport Infrastructure Ireland (TII) was in Cork to reveal itspreferred route for a light rail service, to run from Ballincollig in the west of Cork city, to Mahon Point in the east. Along the 18.6km route and through 27 stops, it will connect Munster Technological University, Cork University Hospital, University College Cork, the city centre, Kent rail station on the north side of the city, Cork Docklands, Páirc Uí Chaoimh and the suburbs of Blackrock and Mahon. Detailed costings haven't been completed as yet, but TII estimates that its Cork Luas project will cost between €2 billion and €3 billion. It insists that the Cork Luas could be operational within a decade, subject to the approval of funding and an application for a railway order in 2028. Given the progress - or lack thereof - on the MetroLink in Dublin, one could be forgiven for thinking that talk of a Luas for Cork is a pipe dream and highly unlikely in this lifetime, but there is a significant push behind the project from all the relevant local and national agencies involved. That is sufficient to support the belief that they are serious in their intent. This week, just over a month after TII revealed its plans for its preferred route for the Cork Luas, Iarnród Éireann came to town to open public consultation on phase two of its Cork Area Commuter Rail project. We know from phase one of this project that Iarnród Éireann is serious about its intent here: the State rail company has already put its money where its mouth is and spent €300 million on the rail infrastructure in Cork, principally in a revamped Kent Station. Phase two promises eight new commuter rail stations: at Blarney, Monard, Tivoli, Ballynoe, Carrigtwohill West and Water Rock, along with the accelerated development of stations at Blackpool and Dunkettle close to the city, which are to be fast-tracked. These developments are part of a plan to create a commuter rail service with a 10 minute frequency, while also significantly increasing capacity. Cork's commuter rail services between the city, Mallow, Midleton and Cobh already cater for one million passenger journeys per year. When the current planned upgrade is completed, Iarnród Éireann says it will be capable of catering for three million passenger journeys every year in comfort. There are also plans for upgrades to the stations at Cobh and Mallow, where longer platforms, new footbridges and lifts will increase capacity for increased frequency on services and improve customer experience. Along the way, the commuter rail network will be electrified, to cut carbon emissions, and park and ride facilities will be provided at Blarney station on the northwest of the city and at Dunkettle in the east. A new depot will also be built to maintain the newly-electrified fleet. Transport services will be integrated so that passengers will be able to use them and travel on them seamlessly. Iarnród Éireann puts the total project cost at €1.8 billion. The company points to its delivery of phase one of the project as a measure of its commitment to doing likewise with phase two. "We are very ambitious that this work should be beginning construction in May 2028," said Iarnród Éireann Chief Executive Mary Considine. "We should begin to see stations open and see the entire programme completed in the early 2030s." Responsibility for delivery of these projects falls to AJ Cronin, Iarnród Éireann's aptly-named Delivery Manager for the Cork Area Commuter Rail project. He's optimistic about the projects and about user up-take once they're completed. "Since Covid, we've seen up to a 70% increase in passenger numbers in the Cork area on the three commuter routes, so over one million passenger journeys in Cobh, Midleton and Mallow," Mr Cronin said. "That's expected to grow significantly when we put in phase two, with the additional access to stations on the network, providing more access for communities and for new population areas and new housing areas." The construction of a new commuter rail station in Blarney is also expected to facilitate the development of a new town close by at Stone View. The overall aim is to move from the current one million passenger journeys per year, to a three-fold increase of three million passenger journeys per year on the Cork commuter lines. Changes en route for roads, buses and bicycles While all this is happening, construction of the €456 million M28 Cork to Ringaskiddy motorway is also under way - another huge infrastructural project. The M28 is set for delivery by summer, 2028. It will significantly help to future-proof the road network around Cork and improve access to Cork Port. The investment covers two linked schemes: 11km of motorway from the N40 Bloomfield Interchange to Barnahely in Ringaskiddy, being delivered by BAM, and the 1.5km Ringaskiddy Relief Road, being delivered by Sorensen. As well as improving the road network and easing congestion at a notoriously dangerous bottleneck, the M28 will deliver faster, more reliable journeys for residents, commuters, and commercial traffic, while strengthening Cork's role in European trade and logistics. In terms of travel by bus and by bicycle, plans are at an advanced stage for a capital investment of between €2.3 billion and €3.5 billion in the bus and cycling network in Cork, following approval by the Cabinet last October of BusConnects Cork. BusConnects will deliver 11 sustainable transport corridors in three schemes across the north, southeast and southwest of the city and suburbs. These will consist of 90km of segregated bus lanes and bus priority routes, and 95km of segregated cycle routes. Planning application for the three schemes are expected to be submitted to An Coimisiún Pleanála this year. BusConnects Cork will provide new bus stops and shelters, real-time passenger information, simplified fares and next generation ticketing (including payment by mobile phone), on a zero-emissions bus fleet. The redesigned bus network envisages having over 50% more bus services in place, with two routes operating 24 hours per day. While all this is ongoing, work is also under way on a €200 million investment at Cork Airport to cater for the expansion of passenger numbers there over the next decade. That investment will see passenger numbers at the airport grow from just over three million per annum currently, to five million. And for those who enjoy travel at a slightly more relaxed pace, there are long-standing plans to develop a greenway along a 45km route from Coachford, west of Cork City, that will roughly follow the path of the River Lee to Blackrock, Monkstown, Carrigaline and onto Crosshaven. Delivery of all these projects is a tall order, but they are all proceeding. The challenges to them - referred to above - relate to cost inflation and the availability of funding. Largely, though, the progress of these plans is in the hands of the people of Cork and whether they decide to embrace them or to oppose them. Overall, though, re-imagining a new future for public transport in Cork is now quite conceivable, and realistic.
The Spanish cement market offers significant opportunities driven by infrastructure development, decarbonization, and operational efficiency. Emphasis on infrastructure rather than housing underpins demand stability. The shift toward low-carbon solutions, ass…
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"Spain Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in Spain is expected to grow by 5.2% on annual basis to reach EUR 1.66 billion in 2026.The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 5.8%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 3.2% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of EUR 1.58 billion to approximately EUR 1.89 billion.Key Insights Reframe Spain's Cement Industry as Infrastructure-Stabilised and Carbon-Transition Managed Building on the industry's stabilization and carbon-transition management, there is a clear shift underway from expansion to a focus on operational precision and low-carbon innovation. Build Strategic Partnerships to Reinforce Circularity and Market Stability Identify Core Demand and Structural Drivers Supporting the Market Forecast Future Direction Under Carbon-Constrained and Infrastructure-Led Conditions Report ScopeSpain Cement Industry Overview Spain Cement Market by Type of Cement Blended Cement Market by Subtypes of Cement Specialty Cement Cement Market by Subtypes of Cement Spain Cement Market by Key SectorResidential Construction Non-Residential ConstructionCommercial Buildings: Industrial Buildings: Institutional Buildings: Infrastructure & Other ConstructionSpain Cement Market by Distribution Channel Spain Cement Market by End-User Spain Cement Market by Location Tier Spain Cement Trade Dynamics Competitive Landscape: Spain Cement Market For more information about this report visithttps://www.researchandmarkets.com/r/5f974d About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Brazil’s cement market is set for growth, pivoting towards operational efficiency, sustainability, and infrastructure-led demand. Key opportunities lie in modernizing plants, optimizing logistics, and integrating renewable energy. Demand stability is anchored…
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"Brazil Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in Brazil is expected to grow by 7.3% on annual basis to reach BRL 57.67 billion in 2026.The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 8.2%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 5.5% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of BRL 53.73 billion to approximately BRL 71.35 billion. Reposition cement as an "infrastructure-anchored and efficiency-managed" industry rather than a broad-based construction rebound story: Over the past 12 months, commentary from the Sindicato Nacional da Industria do Cimento and industry updates carried by Brazilian construction bodies indicate that producers are not pursuing aggressive capacity expansion. Instead, companies are focusing on plant modernisation, kiln reliability, logistics optimisation, and cost containment. Public communications from leading players such as Votorantim Cimentos and CSN Cimentos emphasise operational efficiency, energy management, and portfolio rationalisation rather than greenfield announcements. The industry narrative has shifted from "adding scale" to "protecting margins and utilisation rates." Anchor demand stability in infrastructure concessions while residential activity normalises selectively: Recent updates from the Camara Brasileira da Industria da Construcao and federal infrastructure briefings highlight the continued advancement of highway, port, sanitation, and energy transmission projects. Infrastructure concessions and public investment programs are repeatedly framed as structural pillars for construction demand. At the same time, public reporting over the past year shows uneven residential momentum across regions, with developers prioritising balance-sheet repair and project completion over aggressive land acquisition. Cement producers have acknowledged this divergence, treating public works as the demand floor while monitoring gradual stabilisation in private housing. Integrate decarbonisation and energy transition into core operating strategy: Over the last year, sustainability reporting and policy dialogue in Brazil have reinforced expectations for emissions monitoring and resource efficiency in heavy industry. Cement producers are expanding the use of alternative fuels, increasing clinker substitution through blended cement formats, and enhancing waste heat recovery systems. Corporate disclosures from major operators demonstrate growing investment in emissions tracking, renewable energy sourcing, and circular-economy initiatives. Environmental compliance is increasingly embedded in capital planning decisions rather than treated as a standalone initiative. Highlight Key Trends & Developments Build Strategic Partnerships to Stabilise Industry Structure Identify Core Growth Drivers Forecast Future Trends For more information about this report visithttps://www.researchandmarkets.com/r/q4q7qw About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
The South Korean cement market offers opportunities in infrastructure maintenance as a demand anchor, operational optimization, emission compliance, alternative fuel use, and digital integration. Infrastructure continuity is key, while environmental regulatio…
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"South Korea Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in South Korea is expected to grow by 6.6% on annual basis to reach KRW 5,601,365.2 billion in 2026. The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 5.2%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 6.8% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of KRW 5,253,472.0 billion to approximately KRW 7,283,201.7 billion. Recast cement as a "utilisation-calibrated" industry rather than a cyclical rebound story: Over the past twelve months, commentary from the Korea Cement Association and disclosures by major producers such as Ssangyong C&E and Hanil Cement have emphasised production alignment and cost discipline instead of new kiln additions. Public communications reflect maintenance planning, efficiency upgrades, and dispatch calibration as the central operating priorities. The sector narrative has shifted toward preserving utilisation balance under moderated construction activity. Anchor demand stability in infrastructure maintenance and regional development programs: Recent policy communications from the Ministry of Land, Infrastructure and Transport highlight continued rail upgrades, the expansion of logistics corridors, and the rehabilitation of public facilities. In parallel, construction updates indicate a more cautious private housing cycle. Infrastructure execution, therefore, functions as the structural base of cement demand, while residential activity adjusts more gradually. Integrate emissions governance into core plant strategy: The Ministry of Environment has strengthened oversight of industrial emissions and carbon-accountability frameworks over the last year. Producers have reflected this direction in sustainability updates, alternative fuel expansion, and blended cement positioning. Environmental compliance is now embedded in daily operational decision-making rather than treated as a parallel initiative. Highlight Key Trends & Developments Build Strategic Partnerships to Stabilise Industry Structure Identify Core Growth Drivers Forecast Future Trends For more information about this report visithttps://www.researchandmarkets.com/r/5zfmeu About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
The Mexico cement market offers growth opportunities anchored in infrastructure demand, industrial expansion, and environmental compliance. Focusing on regional demand clusters, digitization, and sustainable practices can enhance competitiveness. Emphasis on …
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"Mexico Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in Mexico is expected to grow by 3.6% on annual basis to reach MXN 216.39 trillion in 2026.The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 4.0%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 4.6% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of MXN 208.81 trillion to approximately MXN 259.48 trillion. Reposition cement as an "infrastructure-anchored" industry rather than a housing-led cycle: Over the past 12 months, commentary from Camara Nacional del Cemento (CANACEM) and reporting in El Economista reflect a market where demand visibility is increasingly tied to transport corridors, logistics hubs, and public works execution rather than purely residential construction momentum. Major producers such as Cemex have emphasized infrastructure and industrial segments in recent investor communications, highlighting diversification away from single-segment exposure. The industry narrative is therefore shifting from short-term cyclical housing swings toward structurally supported infrastructure demand. Anchor stability in nearshoring-linked industrial development: Industrial Park expansion, logistics platform construction, and new export-oriented manufacturing facilities have continued to scale across northern and central Mexico. Growth has been most pronounced in established manufacturing corridors and border regions benefiting from supply-chain realignment within North America. Cement producers are recalibrating regional supply networks to better serve these industrial clusters. Dispatch flows are increasingly aligned with the location of new factories, distribution centers, and assembly plants rather than being broadly distributed across residential markets. Industrial construction is therefore functioning as a structural demand anchor demonstrating greater consistency and lower volatility compared with speculative real estate cycles. Embed environmental compliance into operational planning: Environmental enforcement has strengthened at both federal and state levels. Public updates from Mexican environmental authorities and sustainability disclosures from leading producers indicate a more structured approach to emissions monitoring, waste co-processing, and fuel substitution. Compliance readiness is no longer treated as a reactive measure; it is integrated into production scheduling and capital planning. Highlight Key Trends & Developments Build Strategic Partnerships to Reinforce Stability Identify Core Growth Drivers Forecast Future Trends For more information about this report visithttps://www.researchandmarkets.com/r/my1fyi About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Vietnam's cement market is poised for growth, driven by infrastructure projects, decarbonization efforts, and operational efficiencies. Key opportunities include optimizing export channels, integrating sustainability, enhancing digital operations, and leverag…
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"Vietnam Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in Vietnam is expected to grow by 10.2% on annual basis to reach VND 86,021,785.3 billion in 2026.The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 10.7%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 9.8% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of VND 78,043,600.0 billion to approximately VND 125,094,953.5 billion.Key Insights Reframe Outlook for Vietnam's Cement Industry Highlight Key Trends & Developments Build Strategic Partnerships to Stabilise Industry Structure Identify Core Growth Drivers Forecast Future Trends For more information about this report visithttps://www.researchandmarkets.com/r/2squmg About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Key opportunities in Turkey's cement market include enhancing export diversification to manage regulatory and logistical challenges and embedding carbon compliance for EU market access. The industry is pivoting from capacity expansion to efficiency-driven ope…
Dublin, May 01, 2026 (GLOBE NEWSWIRE) -- The"Turkey Cement Industry Market Size & Forecast by Value and Volume Across 100+ Market Segments by Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2026 Update"report has been added toResearchAndMarkets.com'soffering.The cement market in Turkey is expected to grow by 13.0% on annual basis to reach TRY 423.01 trillion in 2026.The cement market in the country recorded strong growth during 2021-2025, achieving a CAGR of 26.5%. Growth momentum is expected to remain positive, with the market projected to expand at a CAGR of 9.7% during 2026-2030. By the end of 2030, the cement market is projected to expand from its 2025 value of TRY 374.25 trillion to approximately TRY 612.44 trillion.Key Insights Frame Outlook for Turkiye's Cement Industry Highlight Key Trends & Developments Build Strategic Partnerships to Stabilise Industry Structure Identify Core Growth Drivers Forecast Future Trends For more information about this report visithttps://www.researchandmarkets.com/r/z4m3tl About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Electric boats offer significant market opportunities due to environmental regulations, technological advancements, and changing consumer preferences. Key growth drivers include zero emissions, low noise, and cost-efficiency. There's rising demand in commerci…
Dublin, April 27, 2026 (GLOBE NEWSWIRE) -- The"Electric Boats - Global Strategic Business Report"report has been added toResearchAndMarkets.com'soffering.The global market for Electric Boats was valued at US$4 Billion in 2024 and is projected to reach US$8.3 Billion by 2030, growing at a CAGR of 12.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.Electric boats are fast emerging as a disruptive force in the global marine industry, offering a compelling alternative to traditional fossil-fueled vessels. This shift is being driven by a potent combination of environmental regulations, technological advancements, and changing consumer preferences. Unlike their combustion-engine counterparts, electric boats produce zero emissions, making them highly attractive in an era where climate change and marine pollution are top concerns. Their silent operation not only enhances passenger comfort but also aligns with environmental preservation efforts in ecologically sensitive zones. The market is seeing increasing interest from both commercial and recreational sectors. In luxury yachting, electric propulsion is being adopted for its quiet, smooth ride and low maintenance profile. Meanwhile, ferries and water taxis in urban and island-based cities are turning to electric systems to reduce operational costs and adhere to stringent emission norms. The emergence of hybrid systems that combine electric motors with diesel generators is also expanding the use case for longer voyages. Charging infrastructure is gradually evolving, with marinas in Europe and North America leading the development of high-capacity shore charging stations. Solar-assisted electric boats and battery swapping systems are being tested to enhance operational range and convenience. As consumer awareness about sustainable tourism grows, demand for electric-powered charter boats, rental crafts, and eco-cruise vessels is increasing significantly. Major marine industry players are now investing in R&D to develop high-performance electric hulls and energy-dense marine batteries, signaling a long-term shift in propulsion technologies. What' s Driving the Escalating Demand for Electric Boats Worldwide?The growth in the global electric boats market is driven by several factors related to technological maturity, commercial viability, evolving end-use applications, and behavioral shifts among consumers and industry stakeholders. A key driver is the tightening of maritime emission regulations across major global markets, which is compelling both public and private sector players to transition toward low- or zero-emission alternatives. Commercial sectors such as passenger transport, ferries, and port services are seeing rising demand for electric vessels to meet sustainability targets and reduce operational costs. Another significant driver is the increasing suitability of electric propulsion systems for smaller and medium-sized vessels, which represent the bulk of the world' s marine fleet. The growing availability of high-capacity, marine-specific lithium-ion batteries has made this transition feasible. End-use diversification is also playing a central role, with electric boats gaining traction in tourism, hospitality, fishing, and even defense sectors. Eco-resorts and national parks are adopting electric boats for guided tours, enhancing the visitor experience while minimizing environmental disruption. On the consumer front, there is a marked behavioral shift toward sustainable leisure activities, with younger boat buyers favoring electric models for their simplicity and clean energy appeal. Rising fuel costs and maintenance overheads of combustion engines are further encouraging this shift. The expanding network of marina-based charging stations and dedicated service providers is supporting after-sales confidence. Additionally, manufacturers are focusing on offering turnkey electric solutions that reduce installation complexity and enhance user experience. Strategic partnerships between battery manufacturers, shipbuilders, and port authorities are also contributing to smoother deployment and market scaling. These collective forces are converging to accelerate the global electric boats market into a new era of clean, efficient, and future-ready maritime mobility. Report Features: Key Insights: Report Scope Key Attributes: MARKET TRENDS & DRIVERS FOCUS ON SELECT PLAYERS:Some of the 42 companies featured in this Electric Boats market report include: For more information about this report visithttps://www.researchandmarkets.com/r/a8bg83 About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment