Safe Bulkers Inc: 2021 Begins with Higher Revenues and Increased Profit
The 2021 first quarter results of the New York Stock Exchange-listed Cypriot shipping company Safe Bulkers Inc., exceeded analysts’ expectations as it posted a significant net income of US$21.3 million, with earnings per share of US$0.18 (adjusted earnings per share US$ 0.14).
As at 31 March 2021, the company’s cash reserves amounted to US$130.1 million and total liquidity stood at US$191.4 million.
Company President Dr. Loukas Barmparis commented that increased profitability and the strengthening of the balance sheet would enable the company to proceed with its plans for the gradual renewal of the fleet through selective sales of older vessels and new acquisitions. “We are focused on our environmental performance and will continue to invest to improve our operations in this area. We believe our environmental investments will contribute to sustained operational and financial advantages," he said.