Safe Bulkers, Inc. Has Been Ranked \"The Best Performing Shipping Company for the Year 2009\" by Marine Money International

News Release Safe Bulkers, Inc. June 30, 2010

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Athens, Greece – June 28, 2010 -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an
international provider of marine drybulk transportation services,
announced today that it
was ranked “The Best Performing Shipping Company for the Year
2009” at the annually
held Marine Money Conference that took place in New York City on
June 22 - 24, 2010.
Marine Money has been publishing its rankings for the past 20
years after evaluating
about 100 companies from the shipping industry worldwide. The
shipping companies are
assessed on the basis of Asset Turnover, Profit Margin, Return on
Equity, Return on
Assets, Market Value of Equity and Book Value of Equity, which are
combined to
calculate Overall Performance.
Polys Hajioannou, Chief Executive Officer of the Company,
commented, “We are very
proud to have received this recognition. Despite the challenging
times in the year 2009,
we have continued to focus on growth, efficiency and profitability
while rewarding our
shareholders with a regular dividend. This is a testament of our
commitment to the
industry and our shareholders. I would like to thank our
employees, both ashore and at
sea, through whose hard work and dedication to excellence, we have
been successful in
achieving this tremendous
accomplishment.”</DIV></BODY></HTML>