Updates from Safe Bulkers’ Stockholder Meeting and Future Goals

Author: Dylan Bailey Updated: 09-13-2024 09:15 AM

Results from Safe Bulkers' Annual Meeting

MONACO – Safe Bulkers, Inc. (NYSE: SB), a leading provider of marine drybulk transportation services, recently held its annual meeting of stockholders in Monaco, announcing significant developments in its governance and strategic operations.

Election of Class I Directors

During this meeting, stockholders elected three accomplished individuals as Class I directors: Polys Hajioannou, Ioannis Foteinos, and Ole Wikborg. Their role will involve guiding the company until the next annual meeting of stockholders in 2027, where they will be succeeded by duly elected and qualified individuals.

Appointment of Independent Auditors

In an important step for financial transparency, stockholders approved Deloitte, Certified Public Accountants S.A. as the independent auditors responsible for reviewing the company's fiscal activities for the year ending December 31, 2024. This decision underscores Safe Bulkers’ commitment to maintaining high standards of accountability.

An Overview of Safe Bulkers’ Services

As a prominent name in the maritime industry, Safe Bulkers specializes in transporting drybulk commodities such as coal, grain, and iron ore across global shipping routes. With operations spanning many continents, the company serves some of the largest users within the marine drybulk market, ensuring timely and efficient cargo delivery.

Stock Performance and Trading Information

Safe Bulkers’ stock, including its Series C and Series D preferred shares, is publicly traded on the NYSE under the respective symbols SB, SB.PR.C, and SB.PR.D. The trading activity demonstrates a robust interest in the company from a diverse investor base.

Looking Ahead: Growth Opportunities

As Safe Bulkers navigates the complexities of the maritime transportation market, it also firmly aims at expanding its fleet and enhancing operational efficiencies. A focus on acquiring new vessels and exploring further time charter agreements forms the backbone of the company's growth strategy.

Strategic Considerations for Future Operations

While the company is optimistic about its future trajectory, it acknowledges the potential challenges ahead. Factors such as fluctuating demand, variations in TCE rates, and global political conditions could impact operations. However, Safe Bulkers remains poised to adapt to these changes, maximizing opportunities for success.

Contact Information for Inquiries

For further details or inquiries, please reach out using the following contact details:

Company Contact

Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Tel.: +30 2 111 888 400
Fax: +30 2 111 878 500
Email: directors@safebulkers.com

Investor Relations/Mediacontact

Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
Email: safebulkers@capitallink.com

Frequently Asked Questions

What were the outcomes of the recent Safe Bulkers meeting?

Three Class I directors were elected, and Deloitte was appointed as independent auditors for 2024.

Who were the newly elected Class I directors?

The elected directors include Polys Hajioannou, Ioannis Foteinos, and Ole Wikborg.

What services does Safe Bulkers provide?

They offer marine drybulk transportation services, focusing on coal, grain, and iron ore.

What is significant about their stock listings?

Safe Bulkers is publicly traded on the NYSE with the symbols SB, SB.PR.C, and SB.PR.D, indicating a diversified investment portfolio.

How does the company plan for future growth?

The company aims to expand its fleet and enhance operational efficiencies to meet market demands.

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