Breaking news

Safe Bulkers Builds Liquidity Buffer Amid Market Volatility

by THEFUTURE.TEAM

Resilient Performance In A Shifting Market

Cyprus-linked shipping enterprise Safe Bulkers, controlled by Polys Hajioannou’s interests, has demonstrated robust profitability and strengthened liquidity in 2025, despite facing a volatile dry bulk market precipitated by geopolitical disruptions and altering trade routes.

Solid Financial Metrics Amid Uncertain Conditions

The NYSE-listed company reported net income of $38.6 million for the year, compared with $97.4 million in 2024. Revenue reached $275.7 million, down from $307.6 million a year earlier. Adjusted net income totaled $40.5 million, while adjusted EBITDA stood at $128.4 million, reflecting continued cost discipline and a stable capital structure.

Quarterly Gains And Operational Efficiency

In the fourth quarter, Safe Bulkers recorded sequential improvement. Net revenue rose 2% year over year to $72.6 million, while net income increased to $11.8 million. Adjusted earnings reached $15.9 million, or $0.14 per share, with adjusted EBITDA at $37.4 million. Time Charter Equivalent (TCE) rates rose to $17,050 per day from $16,521 in the same quarter last year. Daily operating expenses increased to $5,683 per vessel, partially offsetting the gains.

Leadership Insights And Strategic Dividend Policy

President Loukas Barmparis said market volatility in 2025 was largely linked to geopolitical factors. He noted that adjusted earnings per share reached 14 cents in the fourth quarter, and the company declared a dividend of 5 cents per share. The strategy remains focused on balancing spot exposure and time charters to preserve cash flow visibility while maintaining financial flexibility.

Strengthened Liquidity And Capital Allocation Flexibility

Safe Bulkers ended the year with $167.4 million in cash and $218.2 million in undrawn revolving credit facilities as of February 13, 2026. Net debt per vessel improved to $8.4 million from $8.7 million in 2024. Total consolidated debt, excluding deferred financing costs, stood at $548.6 million, with leverage at approximately 34% and a weighted average interest rate of 5.42% during the fourth quarter.

Fleet Strategy And Future Outlook

The company continues to balance spot and period charters to reduce revenue volatility. As of mid-February 2026, contracted revenue from non-cancellable charters totalled approximately $177.6 million. The fleet includes 45 vessels with an average age of 10.39 years, including 12 IMO GHG Phase 3 and NOx Tier III compliant vessels and 21 scrubber-equipped ships in the Capesize segment.

Modernization And Sustainability Initiatives

Safe Bulkers has eight newbuild Kamsarmax vessels on order, including two methanol dual-fuel ships scheduled for delivery through 2029. As part of fleet renewal, the company agreed to sell the 2012-built Capesize vessel Michalis H for $35.2 million. The company also amended a $100 million senior secured revolving credit facility, linking interest margins to independently verified carbon intensity performance.

Conclusion

Safe Bulkers’ 2025 performance, marked by adaptive operational strategies and strong liquidity, underscores its ability to navigate a turbulent market landscape while positioning itself for sustainable growth. The company’s measured approach to fleet modernization and capital management offers valuable insights into strategic resilience within the maritime shipping industry.

Cyprus Expects More French Visitors In 2027 As Air Capacity Expands

by THEFUTURE.TEAM

Cyprus expects more French visitors in 2027 as airlines increase capacity between the two countries, Tourism Deputy Minister Kostas Koumis said after meetings with tour operators in Paris.

France, one of Cyprus’ key tourism markets, has had a difficult 2026. French arrivals fell 46% year over year to 8,453 in August, from 15,663 a year earlier, according to the Statistical Service of Cyprus (Cystat). August arrivals were also nearly 50% below the 16,798 recorded in the same month of 2024.

Overall, Cyprus received 2.82 million tourist arrivals between January and August, down 7% from the same period in 2025.

Air Connectivity Supports 2027 Outlook

Koumis discussed the 2027 outlook with senior executives from tour operators offering Cyprus holidays during the IFTM Top Resa travel trade fair in Paris.

Higher air capacity between France and Cyprus was a key focus of the talks. Participants also discussed the impact of geopolitical tensions in the Middle East on the French market and Cyprus’ efforts to adapt its tourism offering to French travelers.

“The French market is undoubtedly an extremely important market for our country’s tourism,” Koumis said, adding that France had regained importance only a few years ago and still had room to grow.

Improved air connectivity will be an important factor in that expansion, according to Koumis. “It is now clear that air connectivity between France and Cyprus is improving significantly, which is a basic prerequisite for the further growth of the market,” he said.

Cyprus Promotes Tourism And Regional Cooperation

Koumis attended the opening of IFTM Top Resa at the invitation of French Tourism Minister Serge Papin, who later visited the Cyprus stand. Held from Sept. 15 to 17 at Paris Porte de Versailles, the event brought together more than 32,000 tourism professionals representing 177 destinations and 1,650 brands, according to organizers.

During his visit, Koumis also met Egyptian Tourism Minister Sherif Fathy. Cyprus and Egypt reaffirmed their tourism cooperation and discussed opportunities to strengthen ties further.

French media interviews covered Cyprus’ tourism offering, infrastructure and services, along with efforts to develop specialized tourism products. Regional instability weighed on arrivals in 2026, particularly during the spring, although the decline narrowed over the summer.

Aretilaw firm
eCredo
Uol
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter