ATHENS, GREECE--(Marketwire - October 6, 2009) - Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine dry bulk transportation services,
announced today that its Manager, Safety Management Overseas S.A. (the
"Manager"), was awarded a 2009 Cyprus Shipping Industry Award from the
Department of Merchant Shipping of the Republic of Cyprus.
The award was bestowed on September 27, 2009 during the Maritime Cyprus
2009 Conference held in Limassol, Cyprus.
Polys Hajioannou, Chairman of the Board of Directors and Chief Executive
Officer of the Company, said: "We are very proud for this recognition of
our Manager for their ongoing commitment to the industry and would like to
congratulate its personnel. Our strategy has always been to maintain a high
level of operating excellence. Safety, operational and maintenance
standards are set at very high levels, which together with the age of our
fleet ensure our fleet's smooth operations and low risks for our crews,
vessels and the environment."
The Cyprus Maritime Awards are given by the Cyprus Department of Merchant
Shipping to recognize services that have contributed to the development,
improvement, advancement and promotion of the Cyprus merchant shipping
industry. The Cyprus Shipping Industry Award is bestowed on companies
which have shown continuous and outstanding contribution in the qualitative
improvement of the Cyprus merchant fleet, establishing Cyprus as a shipping
centre, the development of the Cyprus economy and the training and
employment of Cypriot seafarers.
About Safe Bulkers, Inc.
The Company is an international provider of marine drybulk transportation
services, transporting bulk cargoes, particularly grain, iron ore and coal,
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 New York Stock Exchange, where it trades under the symbol
"SB". The Company's fleet consists of 14 drybulk vessels, all built
post-2003, and the Company has contracted to acquire additional drybulk
newbuild vessels to be delivered at various times beginning in 2010 through
2011.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in
Section 27A of the of the Securities Exchange Act of 1933, as amended, and
in Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events, the Company's growth strategy and measures to
implement such strategy, including expected vessel acquisitions and
entering into further time charters. Words such as "expects," "intends,"
"plans," "believes," "anticipates," "hopes," "estimates" and variations of
such words and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations reflected
in such forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a number of
assumptions and estimates which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control of
the Company. Actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to, changes in
the demand for dry bulk vessels, competitive factors in the market in which
the Company operates, risks associated with operations outside the United
States and other factors listed from time to time in the Company's filings
with the Securities and Exchange Commission. The Company expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is based.
Contact Information: For further information please contact:
Company Contact:
Dr. Loukas Barmparis
President
Safe Bulkers, Inc.
Athens, Greece
Tel.: +30 (210) 899-4980
Fax: +30 (210) 895-4159
E-Mail: directors@safebulkers.com
Investor Relations / Media Contact:
Ramnique Grewal
Vice President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com