Geopolitics have had a profound effect on the shipping industry. For some, it proved challenging; for others, like “Safe Bulkers” (NYSE:SB), this challenge proved profitable, and a compelling choice for income-oriented investors.
The embargo on Russian oil and hostilities in the Middle East has constrained the supply of shipping routes. Ships avoid the Suez Canal and defer to lengthier routes via the Cape of Good Hope between Europe and Asia.
This has resulted in a significant rise in shipping costs. However, Safe Bulkers stock tells a different story; it has been up roughly 65% over the past year, and a recent strong earnings report suggests there is more upside yet to come, making the stock intriguing for potential investors.
Safe Bulkers Optimistic Outlook
Safe Bulkers Inc. is a global provider of marine dry-bulk transportation services and operates a fleet of 46 vessels handling primarily grain, coal, and…
