Safe Bulkers Reports Strong Q2 Earnings Amid Improved Charter Rates and Fleet Modernization
Safe Bulkers (NYSE:SB) reported a significant increase in second-quarter earnings driven by higher charter rates and increased bareboat charter income. The company raised its quarterly dividend to $0.075 per share for the second consecutive quarter, marking its 19th straight payout. Management also highlighted an active stock repurchase program with up to 10 million shares available. Adjusted EBITDA reached $50.3 million in Q2 2026 compared to $25.5 million a year earlier, while adjusted earnings per share rose from $0.01 to $0.28. The company operated an average of 45.13 vessels at higher time-charter-equivalent rates and reduced daily operating expenses by 6% year over year. Safe Bulkers continues its fleet modernization efforts, with a younger-than-average fleet age and environmental upgrades that have cut carbon intensity by 22%. The company has $343 million in liquidity and plans to balance shareholder returns with investment in newbuildings.
Topics: charter_rates dividend_increase shipping