Safe Bulkers Inc. (SB) - NYSE
  • Yesterday, 2:58 PM
    • Safe Bulkers (SB -1.8%) is downgraded to Underperform from Neutral with a $1 price target at Credit Suisse, which foresees prolonged weakness in the drybulk market.
    • "Management has done a tremendous job of working with its banks to refinance ~$470M which helps extend SB's runway, but at a certain point the market still needs to recover. That is the problem," analyst Gregory Lewis writes.
    • The firm narrows its FY 2016 loss estimate for SB to $0.67/share from $0.70 to account for the Q2 earnings beat, but widens its 2017 loss estimate to $0.44 from $0.36 reflecting expectations for a weak market environment.
    | Yesterday, 2:58 PM
  • Dec. 17, 2015, 1:38 PM
    • The Guggenheim Shipping ETF (NYSEARCA:SEA) is down 7.3% on a brutal day for shippers and tankers.
    • The sector has been rattled by dividend and distribution cuts at Teekay as a result of the weakening global energy market.
    • Dry bulk shippers are also weaker on the day with some key executive issuing cautious comments.
    • Notable decliners include Scorpio Tankers (STNG -5.1%), Diana Shipping (DSX -4.8%), Euronav (EURN -3.8%), Seaspan (SSW -4.7%), Eagle Bulk Shipping (EGLE -1.8%), Safe Bulkers (SB -3.3%),  and Scorpio Bulkers (SALT -2.7%).
    • Previously: Teekay LNG Partners whacks dividend by 80% (Dec. 17)
    | Dec. 17, 2015, 1:38 PM | 5 Comments
  • Dec. 4, 2015, 12:44 PM
    | Dec. 4, 2015, 12:44 PM | 2 Comments
  • Nov. 24, 2015, 4:23 PM
    • Safe Bulkers (SB +1.6%) has authorized a preferred share repurchase program of $20M, using existing cash.
    • The company may buy any of its 8% cumulative redeemable perpetual preferreds in Series B, Series C, or Series D, it said.
    • It currently has 1.6M shares of Series B preferred outstanding; 2.3M of Series C; and 3.2M of Series D.
    • Updated 5:13 p.m.: Safe Bulkers' Perpetual Preferred Series D shares are up 16.8% after hours.
    | Nov. 24, 2015, 4:23 PM | 5 Comments
  • Nov. 18, 2015, 3:59 PM
    • Dry bulk shippers Star Bulk Carriers (SBLK -21.3%), Diana Shipping (DSX -5.1%) and Scorpio Bulkers (SALT -24.3%) all trade sharply lower following Deutsche Bank downgrades and price target cuts; additionally, SBLK's Q3 loss came in larger than expected.
    • Industry rates have been falling sharply since August, and the Baltic Dry Index has declined every day since Oct. 22, -29% to 560; with declining dayrates comes lower ship values, which affects the related dry bulk shipping companies.
    • Deutsche Bank downgraded SBLK, DSX and SALT to Hold from Buy, noting that a number of dry bulk companies are contemplating asset sales to raise liquidity, and a glut of "for sale" tonnage has negative implications for asset and equity values.
    • Also: DRYS -0.6%, PRGN -6.8%, EGLE -7.1%, NM -0.3%, NMM -4.3%, SB -15.1%, SINO -7.8%, SHIP -3%, DCIX -4.3%, FREE flat.
    | Nov. 18, 2015, 3:59 PM | 42 Comments
  • Nov. 18, 2015, 12:47 PM
    | Nov. 18, 2015, 12:47 PM | 9 Comments
  • Nov. 10, 2015, 12:48 PM
    | Nov. 10, 2015, 12:48 PM | 2 Comments
  • Jul. 20, 2015, 9:59 AM
    • Shipping stocks making a strong early move include Frontline (FRO +6.3%), Scorpio Bulkers (SALT +3.5%), DryShips (DRYS +1.6%), and Safe Bulkers (SB +2.6%).
    • Volatility in the sector has been high off of developments in Greece and China, although underlying shipping rates have been moving higher after bottoming out earlier this year.
    | Jul. 20, 2015, 9:59 AM | 6 Comments
  • Jul. 10, 2015, 10:33 AM
    • Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
    • Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
    • On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of  8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
    • The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
    • The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
    • Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
    | Jul. 10, 2015, 10:33 AM | 12 Comments
  • Jun. 10, 2015, 9:08 AM
    • Citigroup downgrades Safe Bulkers (NYSE:SB) to a Sell rating after having the shipper set previously at Neutral.
    • The investment firm halves its price target to $2.
    • SB -3.42% premarket to $3.11.
    | Jun. 10, 2015, 9:08 AM
  • Aug. 18, 2014, 10:32 AM
    • Drybulk shipping rates continue to move higher, adding to last week's run as iron ore shipments out of Brazil and Australia pick up.
    • On Friday, drybulk rates as measured by the Baltic Dry Index rose 7.7%, capping a 31% gain for the week driven by strength across the board but mainly in Capesize and Panamax rates.
    • After beginning its ascent on July 23, the BDI has jumped 40%, rising in every session except one.
    • Last week, Capesize rates surged 65% to $15,561/day, Panamax rates climbed 29% to $6,397/day, and Supramax rates added 9% to $9,170/day.
    • Related drybulk stocks include: DRYS +2%, PRGN +4.1%, DSX +1%, FREE +8.2%, EGLE -2%, NM +2.5%, NMM +0.7%, SBLK +1.1%, SB +1.7%, BALT +2.5%, SHIP -2.1%, DCIX +2.2%.
    | Aug. 18, 2014, 10:32 AM | 2 Comments
  • Aug. 14, 2014, 10:53 AM
    • Drybulk shipping rates, as measured by the Baltic Dry Index, surged 8.2% overnight, driven by strength across the board but mainly in capesize and panamax rates.
    • Capesize rates jumped 15.7% to $13,677/day, Panamax rates climbed 9.7% to $5,883/day, and Supramax rates rose 1.9% to $9,004/day.
    • Related drybulk stocks include: DRYS +2.6%, PRGN +5.8%, DSX +3.9%, FREE +7.9%, EGLE +2.2%, NM +5.6%, NMM +1%, SBLK +6.2%, SB +5.7%, BALT +3.8%, SHIP +0.7%, DCIX flat.
    | Aug. 14, 2014, 10:53 AM | 12 Comments
  • Mar. 27, 2014, 11:40 AM
    • Seanergy Maritime (SHIP +27.1%) shares are surging after the dry bulk shipper reported Q4 net earnings of $7.5M vs. a $117M loss in the prior-year quarter.
    • SHIP says 2013 saw a significant reversal in dry bulk market conditions, as increased China imports of iron ore and the expected slowdown in vessel deliveries over the next years led to higher freight rates in Q4, and sees continued strength in 2014; time charter equivalent rose 7% in the full year to $8,006 from $7,465 in 2012.
    • Other shipping names are mostly higher: GNK +9.2%, EGLE +3.2%, SBLK +2%, BALT +1.1%, SB +0.9%, NM +0.2%, DSX +0.2%, FREE -0.6%.
    | Mar. 27, 2014, 11:40 AM | 1 Comment
  • Mar. 20, 2014, 11:13 AM
    • Drybulk shipping rates are up big during past five weeks and rose again overnight.
    • The Baltic Dry Index rose 3.2% overnight and has surged 49% since Feb. 12; the BDI has gained in 24 of the last 26 sessions, led by a 211% rise in capesize rates.
    • Capesize rates climbed 6.9% (or $1,664/day) overnight to $25,659/day, while panamax rates rose $4/day to $9,019/day and supramax rates added 0.4% ($48/day) to $12,598/day.
    • Related drybulk equities include DRYS, GNK, PRGN, DSX, FREE, ULTR, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
    | Mar. 20, 2014, 11:13 AM | 6 Comments
  • Feb. 26, 2014, 5:37 PM
    • Top gainers, as of 5:15 p.m.: JCP +13.3%. BEAT +12.7%. SB +8.1%. BIDU +6.5%. SZYM +5.8%.
    • Top losers, as of 5:15 p.m.: NKTR -10.4%. HK -8.3%. NDLS -6.7%. STAA -6.6%. INO -6.4%.
    | Feb. 26, 2014, 5:37 PM | 6 Comments
  • Jan. 15, 2014, 10:35 AM
    • Shippers are on the move after dry bulk shipping rates finally show their first gain of the year.
    • The Baltic Dry Index shows a four-point increase due to gains in capesize rates, which rose $280 to $13,168/day, while panamax rates fell $54 to $12,534 and supramax rates fell $65 to $12,364/day.
    • Before today's gains, the BDI had plunged 40% YTD in its worst start of the year in 30 years.
    • FREE +7.4%, EGLE +7.3%, GNK +5.5%, SB +4.3%, DRYS +4.1%, NM +3.4%, SBLK +2.8%, SHIP +2.5%, ESEA +2.3%, PRGN +2.1%, DCIX +2%, GSL +1.9%, NMM +1.3%, DSX +1.3%, DAC +1.1%, KEX +0.8%, ULTR +0.3%, BALT -1%, SINO -0.8%.
    | Jan. 15, 2014, 10:35 AM | 5 Comments
Company Description
Safe Bulkers, Inc. operates as a holding company, which engages through its subsidiaries in marine transportation services. The company provides marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of... More
Sector: Services
Industry: Shipping
Country: United States