Q2 2024 Safe Bulkers Inc Earnings Call Transcript
Key Points
- Safe Bulkers Inc (SB) reported a stronger market compared to the previous year, leading to increased revenues.
- The company has implemented a new integrated management system in compliance with DryBMS Standards.
- Safe Bulkers Inc (SB) ordered two additional Phase 3 new builds, consistent with their fleet renewal strategy.
- The company issued a 2023 sustainability report detailing their ESG practices and future vision.
- Safe Bulkers Inc (SB) declared a dividend of $0.05 per share of common stock, rewarding shareholders.
- The geopolitical landscape, including tensions in the Middle East, Red Sea, and Ukraine, underscores heightened global uncertainty.
- Persistently elevated inflation has led central banks to become more cautious about policy easing, impacting market expectations.
- The dry bulk market is facing a tight supply picture, which could affect future growth.
- Higher interest rates have increased the company's interest expenses.
- The market is currently weak, particularly in the summer months, with expectations of improvement only in the fourth quarter.
Thank you for standing by, ladies and gentlemen, and welcome to the Safe Bulkers conference call on the second-quarter 2024 financial results. We have with us Mr. Polys Hajioannou, Chairman and Chief Executive Officer; Dr. Loukas Barmparis, President; and Mr. Konstantinos Adamopoulos, Chief Financial Officer of the company. (Operator Instructions)
Following this conference call, if you need any further information on the conference call or on the presentation, please contact Capital Link at (212) 661-7566. I must advise you that this conference is being recorded today. The archived webcast of this conference call will soon be made available on the Safe Bulkers website, www.safebulkers.com.
Many of the remarks today contain forward-looking statements based on current expectations. Actual results may differ materially from the results projected from those forward-looking statements. Additional information concerning factors that can cause the actual results to differ materially from those in the forward-looking statements
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