What Safe Bulkers does

Safe Bulkers, Inc. is a Monaco-headquartered international provider of marine drybulk transportation services, transporting bulk cargoes — primarily coal, grain, and iron ore — along worldwide shipping routes for major industrial commodity users and commodity traders. The company operates a 45-vessel fleet totaling 4.6 million deadweight tonnes across four vessel classes: 8 Panamax, 13 Kamsarmax, 17 Post-Panamax, and 7 Capesize vessels, with 11 newbuilds on order. Approximately 80% of the fleet is Japanese-built (versus a ~40% global average), the average fleet age is 10.39 years, and newly acquired vessels comply with IMO GHG Phase 3 and NOx-Tier III standards, including methanol dual-fuel-capable newbuilds designed to produce near-zero GHG emissions on green methanol. The company's core technology is its modern, eco-spec vessel fleet, which underpins fuel efficiency, regulatory compliance, and charterer preference. Revenue is generated through charter hire on a usage-based time charter equivalent (TCE) per-day model, with a balanced mix of time-charter contracts and spot exposure. Q1 2026 TCE rates averaged $17,095/day, up 16.6% year-over-year, with 12-month forward Eco Kamsarmax rates of $18,000-$19,000/day and a contracted backlog of $178 million. Distribution is direct to enterprise charterers without intermediaries. Safe Bulkers is publicly listed on the NYSE under ticker SB and completed a dual listing on Euronext Athens in June 2026, becoming the first shipping company with common stock on both exchanges. The company is led by Chairman and CEO Polys Hajioannou and President Dr. Loukas Barmparis, with operating subsidiaries in Cyprus (Safe Bulkers Management Ltd), Greece (Safety Management Overseas S.A.), Switzerland, and Monaco.

Name

Safe Bulkers

Legal name

Safe Bulkers, Inc.

Website

https://safebulkers.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Dry Bulk Maritime Shipping

NAICS

Deep Sea Freight Transportation (483111)

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)

Keywords

• Dry bulk shipping
• Marine transportation
• Bulk cargo chartering
• Drybulk vessel fleet
• Ocean freight services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Charter Hire Revenue: Safe Bulkers generates revenue primarily through chartering its dry bulk vessels to customers for the transportation of bulk cargoes including coal, grain, and iron ore. Revenue is earned through time charters and spot market contracts, with rates measured as time charter equivalent (TCE) per day. The company maintains a balanced chartering strategy with both short-term spot exposure and longer-term contracts.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Safe Bulkers is an international provider of marine drybulk transportation services, operating a fleet of 45 vessels across Panamax, Kamsarmax, Post-Panamax, and Capesize classes to transport bulk cargoes including coal, grain, and iron ore along worldwide shipping routes. Revenue is earned through time charters and spot market contracts with major industrial commodity users, with rates measured as time charter equivalent (TCE) per day.

Product overview

Safe Bulkers is an international provider of marine drybulk transportation services operating a fleet of 45 vessels across four vessel classes: Panamax (8 vessels), Kamsarmax (13 vessels), Post-Panamax (17 vessels), and Capesize (7 vessels). The company transports bulk cargoes including coal, grain, and iron ore along worldwide shipping routes. The fleet renewal strategy involves selling older vessels while acquiring new IMO GHG Phase 3 compliant newbuilds, including dual-fuel methanol-capable vessels. The company also offers dual listing services on both NYSE and Euronext Athens, providing investors access to European markets through multiple exchanges.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Drybulk Transportation Services International marine drybulk transportation services transporting bulk cargoes including coal, grain, and iron ore along worldwide shipping routes for major users of drybulk transportation services.
• Panamax Vessel Chartering Chartering of 8 Panamax-class vessels with 0.6 million dwt capacity, forming part of the company's diversified fleet for transporting drybulk cargo across global shipping routes.
• Kamsarmax Vessel Chartering Chartering of 13 Kamsarmax-class vessels with 1.1 million dwt capacity, representing the largest segment of the company's fleet by vessel count and deadweight tonnage.
• Post-Panamax Vessel Chartering Chartering of 17 Post-Panamax-class vessels with 1.6 million dwt capacity, the company's largest fleet segment by number of vessels.
• Capesize Vessel Chartering Chartering of 7 Capesize-class vessels with 1.3 million dwt capacity, used for transporting large volumes of drybulk commodities on major international shipping routes.
• IMO GHG Phase 3 Compliant Newbuild Vessels Newly constructed vessels meeting IMO GHG Phase 3 emissions standards and NOx-Tier III requirements, designed with advanced energy efficiency characteristics and lower fuel consumption.
• Dual-Fuel Methanol Vessel Chartering Kamsarmax-class newbuild vessels capable of operating with methanol and fuel oil, producing near-zero GHG emissions when powered by green methanol based on life cycle assessment methodology.

Quantifiable outcome

• 16.6% increase in time charter equivalent rates year-over-year to $17,095/day
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered supporting.

• Piraeus Securities S.A.supportingChannel Partner/ Reseller/ Distributor · 27 May 2026Piraeus Securities S.A. was appointed as a market maker on Euronext Athens for Safe Bulkers shares following the dual listing.
• Eurobank Equities Investment Firm S.A.supportingChannel Partner/ Reseller/ Distributor · 27 May 2026Eurobank Equities Investment Firm S.A. was appointed as a market maker on Euronext Athens for Safe Bulkers shares following the dual listing.
• White & Case LLPsupportingOthers · 26 May 2026White & Case LLP provided global legal counsel to Safe Bulkers for the Euronext Athens dual listing transaction.
• Potamitis Vekris Law FirmsupportingOthers · 26 May 2026Potamitis Vekris Law Firm provided Greek law counsel for the Euronext Athens dual listing process.
• Capital Link, Inc.supportingOthersCapital Link, Inc. serves as investor relations and media contact for Safe Bulkers, organizing investor conferences and corporate presentations. Headquartered at 230 Park Avenue, Suite 1536, New York, NY 10169.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• Grindrod Shipping: Smaller drybulk and product tanker owner-operator with a Supramax/Ultramax-heavy fleet. Comparable business model at smaller scale, focused on regional drybulk trades.

Direct peers

• Genco Shipping & Trading: NYSE-listed drybulk shipper with a fleet of ~44 vessels across Capesize, Ultramax, and Supramax segments. Direct competitor in the mid-cap drybulk space with similar cargo exposure and chartering strategy.
• Golden Ocean Group: Public drybulk shipping company operating ~95+ Newcastlemax, Capesize, Panamax, and Ultramax vessels. Closely comparable in business model, vessel mix, and cargo focus on iron ore, coal, and grain.
• Pangaea Logistics Solutions: Drybulk shipper focused on niche ice-class and specialized Panamax/Post-Panamax tonnage. Smaller scale but directly comparable business model of owning and chartering bulk carriers.
• Diana Shipping: Greek-based drybulk owner-operator with ~36 vessels (Capesize, Kamsarmax, Panamax, Ultramax). Direct competitor with similar vessel mix and drybulk chartering model to Safe Bulkers.
• Navios Maritime Partners: Diversified publicly listed shipping company with a meaningful drybulk segment alongside containers and bulkers. Competes in drybulk chartering with overlapping cargo exposure.
• Star Bulk Carriers: One of the largest publicly listed drybulk shippers globally with a fleet of ~115+ Newcastlemax/Capesize/Kamsarmax vessels. Direct competitor in drybulk seaborne transportation with overlapping customer base in coal, grain, and iron ore.
• Eurodry: Greece-based drybulk shipper with a fleet of ~14 Ultramax and Kamsarmax vessels. Smaller pure-play drybulk peer with similar operational profile.

Broad incumbents

• Costamare: Greek publicly listed shipping company with a diversified portfolio spanning containerships and drybulk vessels. Broader incumbent that overlaps with Safe Bulkers in drybulk but is primarily container-focused.

Others

• BW LPG: Public shipping company with focus on LPG VLGCs rather than drybulk. Comparable as a publicly listed Greek/Norwegian shipping peer in the broader capital markets shipping investment universe, but does not compete in drybulk directly.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/safe-bulkers-inc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Safe Bulkers