Safe Bulkers, Inc. Announces Public Offering of Series C Preferred Shares

Safe Bulkers, Inc. Announces Public Offering of Series C Preferred Shares 
ATHENS, GREECE -- (Marketwired) -- 04/30/14 --  Safe Bulkers, Inc.
(the "Company") (NYSE: SB), an international provider of marine
drybulk transportation services, announced today that it plans to
offer its Series C Cumulative Redeemable Perpetual Preferred Shares,
par value $0.01 per share, liquidation preference $25.00 per share
(the "Series C Preferred Shares") to the public (the "Public
Offering"). In connection with the Public Offering, the Company
intends to grant the underwriters a 30-day option to purchase
additional Series C Preferred Shares solely to cover over-allotments,
if any.  
The Company plans to use the net proceeds of the Public Offering for
vessel acquisitions, capital expenditures and for other general
corporate purposes, which may include repayment of indebtedness. 
Morgan Stanley & Co. LLC and UBS Securities LLC are acting as joint
bookrunners of the Public Offering, which is being made under an
effective shelf registration statement. 
The Public Offering is being made only by means of a prospectus
supplement and accompanying base prospectus. When available, the
prospectus supplement and accompanying base prospectus relating to
the Public Offering may be obtained from Morgan Stanley & Co. LLC,
180 Varick Street, 2nd Floor, New York, NY 10014, telephone:
1-866-718-1649, Attn: Prospectus Department, e-mail:, or UBS Securities LLC, 299 Park Avenue,
New York, NY 10171, Attn: Prospectus Specialist, telephone:
1-877-827-6444, ext. 561 3884. 
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.  
About Safe Bulkers, Inc. 
The Company is an international provider of marine drybulk
transportation services, transporting bulk cargoes, particularly
coal, grain and iron ore, along worldwide shipping routes for some of
the world's largest users of such services. The Company's common
stock is listed on the NYSE, where it trades under the symbol "SB".
The Company's current fleet consists of 31 drybulk vessels, all built
2003 onwards, and the Company has agreed to acquire thirteen
additional drybulk newbuild vessels to be delivered at various dates
through 2017. 
Forward-Looking Statements 
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Exchange Act of 1933, as amended, and
in Section 21E of the Securities Act of 1934, as amended). Words such
as "expects," "intends," "plans," "believes," "anticipates," "hopes,"
"estimates" and variations of such words and similar expressions are
intended to identify forward-looking statements. Statements contained
in this press release are based upon information presently available
to the Company and assumptions that the Company believes to be
reasonable. The Company is not assuming any duty to update this
information should those facts change or should the Company no longer
believe the assumptions to be reasonable. These statements are
subject to risks and uncertainties, including without limitation,
general market conditions, the market for the Company's stock, the
performance of the Company's business and other risks detailed from
time-to-time in the Company's filings with the Securities and
Exchange Commission. There is no assurance that the Company will
complete the Public Offering or on what terms. 
For further information please contact: 
Company Contact:
Dr. Loukas Barmparis
Safe Bulkers, Inc.
Athens, Greece
Tel.: +30 2 111 888 400
Fax: +30 2 111 878 500
Investor Relations / Media Contact:
Nicolas Bornozis
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
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