Safe Bulkers triples profit as revenue rises 16 per cent

Safe Bulkers reported a sharp rise in first-quarter profit, supported by stronger dry bulk market conditions, higher charter revenues and lower vessel operating costs, while the company also raised its dividend to shareholders.

The company, controlled by the family of Poly V. Hajioannou and listed on the New York Stock Exchange, said net income rose to $22.2 million in the first quarter of 2026, compared with $7.2 million in the same period last year, according to its official earnings...