It will be interesting to see the effect of the huge drop in the Baltic Dry Index (BDI) on Safe Bulkers’ earnings. The BDI stood at 2,741 at the start of 4Q2010. By the end of 4Q2010 it had fallen 968 points to 1,773. It dropped 35.3% during 4Q2010. What will be the effect on Safe Bulkers earnings? I’m guessing that they will be down less than 10 per cent because a high percentage of their ships are rented out long term. Only a small portion of their fleet is time-chartered (spot prices).
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SOURCE: Safe Bulkers, Inc.
Feb 02, 2011 09:10 ET
Safe Bulkers, Inc. Sets Date for Fourth Quarter and Full Year 2010 Results, Dividend Announcement, Conference Call and Webcast
Earnings Release: Wednesday, February 09, 2011, After Market Closes; Conference Call and Webcast: Thursday, February 10, 2011 at 09:00 A.M. EST
ATHENS, GREECE--(Marketwire - February 2, 2011) - Safe Bulkers, Inc. ( the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it will release its results for the fourth quarter and full year ended December 31, 2010 after the market closes in New York on Wednesday, February 09, 2011.
The Company also expects to announce the declaration of a dividend for the fourth quarter 2010 at that time.
On Thursday, February 10, 2011 at 09:00 A.M. EST, the Company's management team will host a conference call to discuss the financial results.
Conference Call
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 (866) 819-7111 (US Toll Free Dial In), 0(800) 953-0329 (UK Toll Free Dial In) or +44 (0)1452-542-301 (Standard International Dial In). Please quote "Safe Bulkers" to the operator.
A telephonic replay of the conference call will be available until February 18, 2011 by dialling 1 (866) 247-4222 (US Toll Free Dial In), 0(800) 953-1533 (UK Toll Free Dial In) or +44 (0)1452 550-000 (Standard International Dial In). Access Code: 1859591#
Slides and audio webcast:
There will also be a live, and then archived, webcast of the conference call, available through the Company's website (www.safebulkers.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services. The Company's common stock is listed on the NYSE, where it trades under the symbol "SB". The Company's current fleet consists of 16 drybulk vessels, all built post-2003, and the Company has contracted to acquire nine additional drybulk newbuild vessels to be delivered at various times through 2013.
Original press release: http://www.marketwire.com/press-release/Safe-Bulkers-Inc-Sets-Date-Fourth-Quarter-Full-Year-2010-Results-Dividend-Announcement-NYSE-SB-1389313.htm
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