Safe Bulkers, Inc. (NYSE:SB) Q4 2023 Earnings Conference Call February 13, 2024 10:00 AM ET
Company Participants
Loukas Barmparis - President
Konstantinos Adamopoulos - Chief Financial Officer
Polys Hajioannou - Chairman & Chief Executive Officer
Conference Call Participants
Omar Nokta - Jefferies
Climent Molins - Value Investor's Edge
Operator
Thank you for standing by, ladies and gentlemen, and welcome to the Safe Bulkers Conference Call on the Fourth Quarter ended December 31, 2023, Financial Results. We have with us Mr. Polys Hajioannou, Chairman and Chief Executive Officer; Dr. Loukas Barmparis, President and Mr. Konstantinos Adamopoulos, Chief Financial Officer of the company.
At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] Following this conference call, if you need any further information on the conference call or on the presentation, please contact Capital Link at 212-661-7566. I must advise you that this conference is being recorded today February 13, 2024.
The archive webcast of the conference call will soon be made available on the Safe Bulkers website, www.safebulkers.com. Many of the remarks today contain forward-looking statements based on current expectations. Actual results may differ materially from the results projected from those forward-looking statements. Additional information concerning factors that can cause the actual results to differ materially from those in the forward-looking statements is contained in the fourth quarter ended December 31st, 2023 earnings release, which is available on the Safe Bulkers website, again, www.safewalkers.com.
I would now like to turn the conference call to one of your speakers today, President Loukas Barmparis. Please go ahead, sir.
Loukas Barmparis
Good morning. I'm Loukas Barmparis, President of Safe Bulkers. Welcome to our conference call and webcast to discuss the financial results for the fourth quarter of 2023. During the last quarter of the year, we operated in an improved charter market environment compared to the previous quarter. The company continues to maintain a strong capital structure while implementing its strategy of gradual rate renewal that leads to decreasing fleet average age.
Our ongoing efforts to upgrade our existing vessels coupled with our fleet renewal will enable us to remain competitive while reducing our carbon footprint. Yesterday, just before the issuance of our earnings press release, we announced the sale of our oldest vessel, MBE Maritime.
This gives me the opportunity to focus on our investment strategy, which takes into account our existing policy and prepares our company for the new, more stringent regulatory environment in relation to carbon emissions.