Stocks that Float: TANKERS & DRY BULK SHIPPERS

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Here's some information about Safe Bulkers (SB). A Greek family company, they have a brand new fleet of ships (11 Capesize/Panamax/Kamsarmax bulkers + 11 newbuilds), net income $211 mill. in 2007, EPS $3.88 in 2007.


Safe Bulkers, Inc. Announces Pricing of Its Public Offering and Listing on the New York Stock Exchange

May 29, 2008 8:00 AM EDT

ATHENS, GREECE -- (MARKET WIRE) -- 05/29/08 -- Safe Bulkers, Inc. (the "Company") (NYSE: SB) announced today that its public offering of 10,000,000 shares of common stock was priced at $19.00 per share. As of today, the Company's common stock will trade on the New York Stock Exchange under the ticker symbol "SB".

The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, such as grain, iron ore and coal, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services.

All of the shares were sold by Vorini Holdings Inc., a selling stockholder controlled by the family of the Company's Chief Executive Officer Polys Hajioannou and Chief Operating Officer Nicolaos Hadjioannou. Vorini Holdings Inc. has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of the common stock to cover over allotments, if any.

The offering was book-run by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and Credit Suisse Securities (USA) LLC ("Credit Suisse"). Co-managers of the offering are Jefferies & Company, Inc., Dahlman Rose & Company, LLC, Poten Capital Services LLC and DnB NOR Markets, Inc.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 28, 2008. A copy of the prospectus relating to these securities may be obtained when available from Merrill Lynch, 4 World Financial Center, New York, NY 10080 or Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010.

This release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different.

About Safe Bulkers, Inc.

Safe Bulkers, Inc. is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world's largest users of marine drybulk transportation services.

More information:
IPO SEC Filing:
http://www.sec.gov/Archives/edgar/data/1434754/000093041308003253/c52273_f1.htm