For the quarter ended March 31st, 2011, we forecast that Safe Bulkers Inc. (NYSE: SB) generated operating income of $26.7 million or $0.41 per common share. We estimate that the company generated net TCE Revenues of approximately $40.7 million, and the fleet average TCE was $28,600.
As of March 31st, 2011, Safe Bulkers was operating a modern diversified fleet of 16 bulk carriers (consisting of 4 PANAMAX, 3 KAMSARMAX, 8 POST-PANAMAX, & one CAPE size vessels), with a total DWT capacity of 1,443,800 MT. The company also has an additional 11 new-building vessels on order with a total DWT capacity of 1,097,200 MT.
As of March 31st, 2011, Safe Bulkers was operating a modern diversified fleet of 16 bulk carriers (consisting of 4 PANAMAX, 3 KAMSARMAX, 8 POST-PANAMAX, & one CAPE size vessels), with a total DWT capacity of 1,443,800 MT. The company also has an additional 11 new-building vessels on order with a total DWT capacity of 1,097,200 MT.
