Safe Bulkers reports increased net income in Q1 2026

These acquisitions include two dry-bulk vessels scheduled for delivery in 2028 and 2029, alongside a 180,000 DWT dry-bulk Capesize newbuild scheduled for the second half of 2029.

To fund these expansion plans, the company reported having $166.8 million in cash reserves and $208.1 million in undrawn borrowing capacity under its revolving credit facilities as of June 12, 2026.

The company's outstanding consolidated debt before deferred financing costs was $522.7 million, which includes a €100 million bond, equivalent to $115 million, maturing in February 2027.