Safe Bulkers SB Q4 2025 Earnings Call Transcript | The Motley Fool
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 19, 2026
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Safe Bulkers (SB) reported adjusted earnings per share of $0.14 for Q4 2025, supported by a strong financial position with $385 million in liquidity and $178 million in contracted revenue. Despite a slight decrease from the previous year's $0.15 EPS, the company maintained its dividend payment at $0.05 per share, reflecting ongoing efforts to return value to shareholders. Adjusted EBITDA came in at $37.4 million, down from $40.7 million in Q4 2024. The company highlighted a focus on maintaining a high-quality fleet of 45 vessels, with 80% Japanese-built assets emphasizing operational efficiency and technological advancement.
Key challenges were evident during the earnings call, including a 13% year-over-year increase in daily vessel operating expenses to $5,686. Management attributed this rise to rising cost pressures, while also noting softening demand due to high Chinese port inventories and declining coal shipments. The International Energy Agency predicts a 1.4% decline in global coal demand between 2025 and 2027, further impacting the company's revenue from coal-related trade. Additionally, management expressed concerns about Chinese import substitution policies, particularly for coal and grains, which could reduce seaborne trade volumes.
Safe Bulkers' strategy to maintain a young, efficient fleet was underscored by its focus on newbuilds, with eight Phase II vessels scheduled for delivery by Q1 2029. The company's order book remains full through 2028, driven by limited shipyard availability and the lack of quality
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Originally published on The Motley Fool on 2/19/2026