Safe Bulkers has logged a bigger loss for the second quarter as dry bulk rates continued their downward trend.
The New York-listed company said the net loss from April to June was $9m, compared to $4.4m.
This was translated into a loss per share of $0.15, which was a cent lower than the Wall Street’s expectations.
Loukas Barmparis, president of Safe Bulkers, noted that the company managed to keep its operating expenses below its time charter equivalent (TCE).
He
