Safe Bulkers, Inc. Has Been Ranked “The Second Best Performing Shipping Company for the Year 2010” by Marine Money International
News Release
Safe Bulkers, Inc.
June 24, 2011
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<DIV><FONT size=2 face=Arial><FONT face="Times New Roman"><B><FONT
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<P align=left>Athens, Greece – June 23, 2011 </B></FONT><FONT
face="Times New Roman">-- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an</P>
<P align=left>international provider of marine drybulk transportation services,
announced today that it has</P>
<P align=left>been ranked “The Second Best Performing Shipping Company for the
Year 2010” at the</P>
<P align=left>annually held Marine Money Conference that took place in New York
City on June 21-23,2011.</P>
<P align=left>Marine Money has been publishing its rankings for the past 21
years after evaluating about 100</P>
<P align=left>companies from the shipping industry worldwide. The shipping
companies are assessed on the</P>
<P align=left>basis of Asset Turnover, Profit Margin, Return on Equity, Return
on Assets, Market Value of</P>
<P align=left>Equity and Book Value of Equity, which are combined to calculate
Overall Performance.</P>
<P align=left>Last year the Company was ranked “The Best Performing Shipping
Company for the Year 2009”.</P>
<P align=left>Polys Hajioannou, Chief Executive Officer of the Company,
commented “We are proud to be</P>
<P align=left>ranked for the second consecutive year in the top tier for the
Marine Money Awards from among</P>
<P align=left>100 shipping companies. This recognition demonstrates the
consistency of our policies and</P>
<P>reflects the hard work of our management team, staff and seagoing
personnel.”</P></FONT></FONT></FONT></DIV></BODY></HTML>
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<DIV><FONT size=2 face=Arial><FONT face="Times New Roman"><B><FONT
face="Times New Roman">
<P align=left>Athens, Greece – June 23, 2011 </B></FONT><FONT
face="Times New Roman">-- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an</P>
<P align=left>international provider of marine drybulk transportation services,
announced today that it has</P>
<P align=left>been ranked “The Second Best Performing Shipping Company for the
Year 2010” at the</P>
<P align=left>annually held Marine Money Conference that took place in New York
City on June 21-23,2011.</P>
<P align=left>Marine Money has been publishing its rankings for the past 21
years after evaluating about 100</P>
<P align=left>companies from the shipping industry worldwide. The shipping
companies are assessed on the</P>
<P align=left>basis of Asset Turnover, Profit Margin, Return on Equity, Return
on Assets, Market Value of</P>
<P align=left>Equity and Book Value of Equity, which are combined to calculate
Overall Performance.</P>
<P align=left>Last year the Company was ranked “The Best Performing Shipping
Company for the Year 2009”.</P>
<P align=left>Polys Hajioannou, Chief Executive Officer of the Company,
commented “We are proud to be</P>
<P align=left>ranked for the second consecutive year in the top tier for the
Marine Money Awards from among</P>
<P align=left>100 shipping companies. This recognition demonstrates the
consistency of our policies and</P>
<P>reflects the hard work of our management team, staff and seagoing
personnel.”</P></FONT></FONT></FONT></DIV></BODY></HTML>