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SBIndustrials · Marine Shipping · ΧΑ

Safe Bulkers

€7.79
+0.17(+2.23%)
Close 08/10/2026 · end-of-day price, not real-time

Safe Bulkers (SB) closed at €7.79 on 08/10/2026, +2.23% on the day, on 4.8× its 10-day average volume. Market cap €879.9m, P/E 11.37, dividend yield 1.51%.

My view
Private · MENTOR takes it into account
+36.9%6M
08/10/2026Close 7.79+2.23%+36.9% since start

Before its Athens listing on 2 Jun 2026, the chart shows NYSE closing prices in dollars, converted to euros at each day's exchange rate. No volume is shown for those days.

Valuation

Peers: 3
MetricSBPeer median
P/E11.417.7
P/E (forward)12.7—
P/B1.040.65
P/S2.92.6
EV/EBITDA7.210.1
Dividend yield1.5%0.0%
Payout ratio7.8%0.0%
Gross margin49.2%−65.8%
Operating margin41.1%−9.1%
Net margin28.3%14.5%
ROE10.3%2.4%
Revenue growth (quarter, y/y)33.0%1.0%
Net debt€335.5m€563.9m
Twelve Data · latest quarter 30/06/2026

Same industry: Marine Shipping

EV/EBITDADay
Star Bulk Carriers Corp.SBLK7.5+1.4%
Safe BulkersSB7.2+2.2%
AtticaATTICA10.2−0.7%Technical OlympicOLYMP10.1−2.2%

The company

AI-drafted

Safe Bulkers is a dry-bulk shipowner incorporated in the Marshall Islands and run from Monaco, controlled by chairman and chief executive Polys Hajioannou. It charters 46 Panamax-to-Capesize ships to commodity traders and shipping groups for daily hire. Its common stock is primarily listed on the NYSE and, since June 2026, the same shares also trade on Euronext Athens.

How it makes moneyFY2025 · basis: revenue
  • Period time charters (over three months)1(single reportable segment; split by charter type)77.5%
  • Spot time charters (up to three months)122.5%
It is
  • A pure dry-bulk shipowner earning daily charter hire from 46 vessels.2
  • Controlled by chairman and chief executive Polys Hajioannou, who holds 43.8% of the common stock.9
It is not
  • Not a Greek company: it is incorporated in the Marshall Islands, with its head office in Monaco.1
  • Not a depositary receipt or a separate class: Athens trades the same NYSE-listed shares, with the same ISIN, in euros.3
  • Not new to the Athens market: its €100m 2.95% bond, due February 2027, has been listed there since 2022.1
Recent developmentsAll company events →
  • Sep 2026Placed 12 million new shares at €6.70 for €80.4m gross; they began trading in Athens on 14 September.6,8
  • Sep 2026The annual meeting elected Vasilis Hajioannou, Konstantinos Adamopoulos and Kristin Holth; Frank Sica retired and Jeffrey Bunzel chairs the audit committee.5,4
  • Jul 2026Quarterly common dividend raised to $0.075 a share, from $0.06 in June and $0.05 before.2
  • Jun 2026All common shares began parallel trading on Euronext Athens' Main Market; the NYSE remains the primary listing.3,7
  • Jun 2026Ordered further Japanese Kamsarmax newbuilds in May and June and a Capesize under finance lease, taking the orderbook to ten ships for 2026–2029.2
  • Mar 2026The US–Iran conflict disrupted shipping through the Strait of Hormuz and spiked fuel prices; the company flags cost and trade risks.2
Key figures
  • Average daily TCE per vessel $18,862 H1 20262
  • Daily vessel operating expenses $5,718 H1 20262
  • Vessels in the fleet 46 2026-07-242
  • 2026 fleet days under contract 79% 2026-07-242
  • Leverage at vessel market values 30% 2026-06-302
Key facts
  • Common stock primarily listed on the NYSE since 2008; the same shares have traded on Euronext Athens' Main Market since 2 June 2026 (ISIN MHY7388L1039).1,3,10
  • Raised €80.4m in September 2026 by placing 12 million new shares at €6.70; 113,833,473 common shares are now in issue.6,8,11
  • H1 2026: net revenues of $161.9m and net income of $57.4m, against $130.1m and $8.9m a year earlier.2
  • Quarterly dividend paid in US dollars, raised to $0.075 a share for Q2 2026; Greek-resident individuals pay 5% Greek tax on it.2,3
  • Debt of $519.2m at 30 June 2026 includes a €100m 2.95% bond due February 2027; nine of its ten newbuilds on order still need $277.2m.2
Sources
  1. 1.2025 Annual Report (Form 20-F)Safe Bulkers, Inc. · 04/03/2026official
  2. 2.Q2 and six-month 2026 results and dividend declarationSafe Bulkers, Inc. · 28/07/2026official
  3. 3.Prospectus for the parallel listing on Euronext AthensSafe Bulkers, Inc. · 27/05/2026official
  4. 4.2026 Proxy StatementSafe Bulkers, Inc. · 27/07/2026official
  5. 5.Results of 2026 Annual MeetingSafe Bulkers, Inc. · 10/09/2026official
  6. 6.Completion and pricing of private placementSafe Bulkers, Inc. · 09/09/2026official
  7. 7.Common stock begins trading on Euronext Athens alongside the NYSESafe Bulkers, Inc. · 02/06/2026official
  8. 8.Form 6-K on admission of the new shares to Euronext AthensSafe Bulkers, Inc. via SEC EDGAR · 11/09/2026official
  9. 9.Schedule 13D/A, Polys Hajioannou and controlled entitiesSEC EDGAR · 11/09/2026official
  10. 10.FIRDS records, ISIN MHY7388L1039ESMA · 15/09/2026official
  11. 11.6-K Exhibit 3: total common voting rights after placementSafe Bulkers, Inc. via SEC EDGAR · 16/09/2026official
AI-drafted from the cited sources · 30/09/2026 · v3 · ✓ checked by an independent second modelSafe Bulkers, Inc.Website ↗
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Why it moved
+2.23% on 4.8× volume
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3 listed peers
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.