Safe Bulkers, Inc. Has Been Ranked “The Best Performing Shipping Company for the year 2009” by Marine Money International

Athens, Greece – June 28, 2010 - Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it was ranked “The Best Performing Shipping Company for the Year 2009” at the annually held Marine Money Conference that took place in New York City on June 22 - 24, 2010.

Marine Money has been publishing its rankings for the past 20 years after evaluating about 100 companies from the shipping industry worldwide. The shipping companies are assessed on the basis of Asset Turnover, Profit Margin, Return on Equity, Return on Assets, Market Value of Equity and Book Value of Equity, which are combined to calculate Overall Performance.

Polys Hajioannou, Chief Executive Officer of the Company, commented, “We are very proud to have received this recognition. Despite the challenging times in the year 2009, we have continued to focus on growth, efficiency and profitability while rewarding our shareholders with a regular dividend. This is a testament of our commitment to the industry and our shareholders. I would like to thank our employees, both ashore and at sea, through whose hard work and dedication to excellence, we have been successful in achieving this tremendous accomplishment.”

About Safe Bulkers, Inc.
The Company’s subsidiaries provide 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 subsidiaries currently own 15 drybulk vessels, all built post 2003, and have contracted to acquire six additional drybulk newbuild vessels to be delivered at various times through the first quarter of 2012.

Safe Bulkers, Inc.