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Safe Bulkers earnings climb on improved charter rates

Bulk carriers owner reports higher revenues and earnings for the third quarter and has been busy in a number of respects, including securing deals with lenders to push back about $132m in balloon payments from 2021 and 2022 to 2023 and 2025. The company has also been investing — in acquiring a new capesize, repurchasing a leased kamsarmax and launching a programme to install scrubbers on half the fleet

Safe Bulkers has agreed a number of loan amendments and refinancings, resulting in pushing back about $132m in balloon repayments

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