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MONACO - Safe Bulkers, Inc. (NYSE:SB) announced Monday it has entered into an agreement to sell MV Pedhoulas Leader, a 2007 Japanese-built Kamsarmax class dry-bulk vessel, for $12.5 million with delivery scheduled between August and October 2025. The company, currently valued at $434 million, trades at an attractive P/E ratio of 6.3 and maintains impressive gross profit margins of 63%, according to InvestingPro data.
The sale is part of the company’s ongoing fleet renewal strategy, according to a press release statement. Safe Bulkers currently has six modern energy-efficient vessels on order, with four scheduled for delivery in 2026.
"As part of our fleet renewal strategy, we have sold one of our oldest vessels, having achieved the targeted sale price," said Dr. Loukas Barmparis, President of Safe Bulkers.
Safe Bulkers is an international provider of marine drybulk transportation services, primarily transporting coal, grain, and iron ore along worldwide shipping routes. The company’s common stock and preferred stock series are listed on the NYSE under the symbols SB, SB.PR.C, and SB.PR.D, respectively.
The transaction represents the company’s efforts to modernize its fleet as older vessels are replaced with newer, more efficient ships.
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