Safe Bulkers is a dry-bulk shipping company that owns and operates a fleet of large cargo vessels engaged in the global seaborne transportation of commodities including iron ore, coal, grain, and fertilizers. The company generates revenues primarily through time-charter and spot-charter arrangements with customers worldwide, earning fixed daily rates under period contracts or market-determined rates on shorter-term voyages, with charter income dependent on supply-and-demand dynamics in the drybulk shipping sector. Safe Bulkers competes on environmental compliance, safety records, operational expertise, and cost-effectiveness, and pursues a fleet modernization strategy with environmentally advanced newbuilds to address long-term regulatory pressures and declining coal demand.