![International Bulk Journal](https://www.ibj-online.com/images/international-bulk-journal.png)
![Menu](https://www.ibj-online.com/images/showmobnav-bg.png)
(Posted on 30/05/19)
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has announced its unaudited financial results for the three months period ended 31 March, 2019.
Dr. Loukas Barmparis, President of the Company, said: ‘‘We started 2019 profitably despite the material weakness of the charter market amid trade-war concerns, disruption of trade patterns due to natural disasters and seasonality inherent in the industry. We are on schedule in implementing our environmental investments installing scrubbers in approximately half of our fleet during 2019 in anticipation of the effectiveness of the IMO sulphur cap regulations in 2020. We also remain committed to installing ballast water treatment systems in each of our vessels. Overall, we remain confident that our Company is well positioned ahead of the uncertainties and opportunities presented by the current operating environment.
Our vessels are used to transport bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes. We intend to employ our vessels on both period time charters and spot time charters, according to our assessment of market conditions, with some of the world’s largest consumers of marine drybulk transportation services. The vessels we deploy on period time charters provide us with relatively stable cash flow and high utilization rates, while the vessels we deploy in the spot market allow us to maintain our flexibility in low charter market conditions.
As of May 23, 2019, we had liquidity of $95.4 million consisting of $85.0 million in cash and bank time deposits and $10.4 million in restricted cash. Leverage and repayment profile As of March 31, 2019, our consolidated leverage 9 , representing total consolidated liabilities divided by total consolidated assets, was 58%.”
INTERCARGO, the association of dry bulk shipping companies, has released the following statement:&ldquo... Read more
ITOCHU Corporation, ClassNK, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (... Read more
The Women's International Shipping & Trading Association UK (WISTA UK) marked its 50th anniversary... Read more
Accidents onboard ships are not decreasing, according to latest accident statistics submitted to the... Read more
Solutions must be in place to help ship owners with navigating the complex challenges of complying with... Read more
Diversity and nurturing talent is high on the agenda for BCS Group – Boers Crew Services as it... Read more
With discussions regarding the IMO’s (International Maritime Organization) Carbon Intensity Indicator... Read more
The Institute of Chartered Shipbrokers (ICS), the professional body for the commercial shipping industry... Read more
Columbia Group and Crowley have signed a strategic cooperation agreement that broadens both companies... Read more
The 2024 edition of The Future of Maritime Safety Report from Inmarsat Maritime, a Viasat company, reveals... Read more