Dry bulk operator Safe Bulkers reported record profitability on Wednesday, amid soaring freight rates that have allowed the company to kill several birds with one stone.
The US-listed operator has cut its debt load by a third over the past five quarters to $414m as of the end of September, according to its latest set of financial results.
"As we move to year-end, we are gradually nearing our targeted leverage," Safe Bulkers president Loukas Barmparis said in a press release, in which the company announced a record quarterly profit of $55.4m
