Costamare Inc. (CMRE), a New York-listed shipowner and operator, through its dry bulk division, Costamare Bulkers Services, has doubled down on its strategy to refresh its dry bulk fleet, emphasizing a shift towards larger vessels within the industry. Under the leadership of Konstantinos Konstantakopoulos, the company has disclosed the sale of nine handy and supramax vessels, with sizes ranging from 32K DWT to 56K DWT, constructed between 2006 and 2012. Out of these, five ships have already been sold, generating net earnings of approximately $33 million after settling debts, and the sale of the remaining four is anticipated to yield about $26 million. Having ventured into the dry bulk sector in 2021, the Athens-based Costamare Bulkers Services now boasts ownership of 41 bulk carriers totaling around 2.7m dwt. Additionally, it operates a diverse trading platform of 51 vessels, including newcastlemax, capesize, and kamsarmax bulk carriers, along with managing a fleet of 68 container ships under Costamare Inc. (CMRE). In 2023, Costamare Bulkers Services achieved a net profit of $354.7 million, during which it sold 12 bulk carriers and expanded its fleet with three capesize and one ultramax bulk carriers. 8-February-2024
New York-listed shipowner and operator Costamare Inc.’s (CMRE) dry bulk shipping arm Costamare Bulkers Services has implemented a fleet renewal strategy by selling two older supramax bulk carriers. One of these supramax bulk carriers is the 2006 built supramax bulk carrier 55K DWT MV Peace and it is expected to change ownership in the Q4 2023. 2006 built supramax bulk carrier 55K DWT MV Peace is equipped with a Ballast Water Treatment System (BWTS), is likely being sold to Vietnamese shipowner for approximately $11.6 million. Greek Konstantinos Konstantakopoulos-led New York-listed shipowner and operator Costamare Inc. (CMRE) had acquired the MV Peace from Olympic Shipping in May 2021 for a reported price of $12.9 million. Additionally, Costamare Inc. (CMRE) is also planning to divest the 2006 built supramax bulk carrier 55K DWT MV Pride, which was purchased from Olympic Shipping for $12.6 million in 2021. MV Pride is expected to exit the fleet in the Q4 2023. Costamare Inc. (CMRE) has recently confirmed several other sales and purchases within its fleet, including the acquisition of two (2) capesize bulk carriers built in 2011 named MV Enna and MV Dorado, as well as the 2013 built ultramax bulk carrier MV Arya. Athens-based shipowner and operator Costamare Inc. (CMRE) has also completed the sale of two (2) older container ships, namely the 1998 built container ship 2,472 TEU MV Monemvasia (of which Costamare owns a 49% stake) and the 2000 built container ship 4,890 TEU MV Oakland. As of Q3 2023, New York-listed shipowner and operator Costamare Inc. (CMRE) owns a total of 68 containerships and 45 bulk carriers, including those that are being sold. Konstantinos Konstantakopoulos-led shipowner and operator Costamare Inc. (CMRE) reported a Q3 2023 net profit available to common stockholders of $53.3 million, equivalent to $0.45 per share. Additionally, Costamare Inc. (CMRE) has expanded its dry bulk operating platform to include 59 ships, with the majority of the fixed fleet operating under index-linked charter-in agreements. 2-November-2023
Greek Konstantinos Konstantakopoulos-led New York-listed shipowner and operator Costamare Inc. (CMRE) has officially announced its acquisition of capesize bulk carrier, demonstrating a firm commitment to expanding Costamare Inc.’s (CMRE) presence in the bulker sector. This strategic move comes as the Athens-based New York-listed shipowner and operator Costamare Inc. (CMRE) endeavors to diversify its portfolio, even amidst the challenges posed by the dry bulk carrier market, which had a marginal impact on an otherwise profitable second quarter. As a prominent player in the maritime industry, Costamare Inc. (CMRE) operates a sizable fleet of approximately 170 bulk carriers and container ships. In light of its recent success, the company reported a commendable net income of $63.2 million. With this acquisition and the company’s resolute focus on diversification, Costamare Inc. (CMRE) aims to bolster its position and chart a steady course in the ever-evolving shipping landscape. 29-July-2023
Konstantinos Konstantakopoulos, the esteemed chairman and CEO of New York-listed shipowner and operator Costamare Inc. (CMRE), has acquired a noteworthy 5.1% stake in the New York-listed pure-play capesize owner Seanergy Maritime (SHIP). In the latest development between shipowners, the CEO of Costamare Inc. (CMRE), Konstantinos Konstantakopoulos, has made a strategic investment in Stamatis Tsantanis-led pure capesize shipowner and operator Seanergy Maritime (SHIP). Costamare Inc. (CMRE), a prominent Greek company specializing in container ships and bulk carriers, had been speculated to show interest in Eagle Bulk Shipping (EGLE), but Costamare Inc. (CMRE) has allocated its investment funds in Seanergy Maritime (SHIP). The trend of notable dry bulk companies attracting investment from fellow public shipowners continues, with Greece’s renowned Costamare Inc. (CMRE) forming a new partnership with Seanergy Maritime (SHIP). Konstantinos Konstantakopoulos announced on Wednesday the company’s acquisition of 1.02 million shares in New York-listed pure-play capesize owner Seanergy Maritime (SHIP). Last year, New York-listed shipowner and operator Costamare Inc. (CMRE) established Costamare Bulkers Services Pte. Ltd. Currently, Seanergy Maritime (SHIP) owns and operates 16 capesize bulk carriers. 6-July-2023
Greek Konstantinos Konstantakopoulos-led New York-listed shipowner and operator Costamare Inc. (CMRE), has acquired a significant portion of the New York-listed pure-play capesize owner Seanergy Maritime (SHIP), a compatriot company listed on Nasdaq. As indicated in a report to the US Securities and Exchange Commission (SEC), Longshaw Maritime Investments, controlled by Konstantinos Konstantakopoulos, purchased nearly 1.02 million shares, amounting to a 5.1% stake in Seanergy Maritime (SHIP). While this is a personal investment by Konstantinos Konstantakopoulos, who previously obtained shares in Tsakos Energy Navigation in 2022, the acquisition of a substantial stake in Seanergy Maritime (SHIP). Currently, New York-listed shipowner and operator Costamare Inc. (CMRE) maintains a fleet consisting of 71 containerships and 43 bulk carriers. In addition, Costamare Inc. (CMRE) possesses an operational platform that engages in chartering activities for bulk carriers, and it is involved with Neptune, a leasing enterprise led by Harris Antoniou, which offers financing services to third-party owners. 5-July-2023
New York-listed shipowner and operator Costamare Inc. (CMRE) spin-off Costamare Bulkers chartered out six (6) newcastlemax bulk carriers to Germany-based RWE Supply and Trading for long-term periods. Costamare Bulkers Services Pte. Ltd. is established in Singapore on 20 September 2022 as a private company. Gregory Zikos-led Costamare Inc backs Costamare Bulkers Services Pte. Ltd’s more than half of fleet now includes newcastlemax bulk carriers. Costamare Bulkers Services Pte. Ltd controlled all newcastlemax bulk carriers are all fitted with scrubbers and have been chartered for three to four years in an en-bloc deal. New York-listed shipowner and operator Costamare Inc. (CMRE) spin-off Costamare Bulkers chartered out 2021 built newcastlemax bulk carrier 211K DWT MV Shandong Happiness, 2021 built newcastlemax bulk carrier 211K DWT MV Shandong Innovation, 2021 built newcastlemax bulk carrier 211K DWT MV Shandong Mightiness, 2021 built newcastlemax bulk carrier 211K DWT MV Shandong Prosperity, 2021 built newcastlemax bulk carrier 210K DWT MV Shandong Mission, and 2022 built newcastlemax bulk carrier 210K DWT MV Shandong Renaissance. 26-February-2023
New York-listed shipowner and operator Costamare Inc. (CMRE) established Costamare Bulkers Services Pte. Ltd. Costis Constantakopoulos-led Costamare Group appointed Ex-Oldendorff team and set up commercial offices in Copenhagen, Hamburg, and Singapore for Costamare Bulkers Services. Costamare Bulkers Services Pte. Ltd. is established in Singapore on 20 September 2022 as a private company. Ex-Oldendorff employees will handle commercial management of supramax, panamax, and capesize bulk carriers at Costamare Bulkers Services Pte. Ltd. Costamare Bulkers Services’ commercial offices are established in Copenhagen, Hamburg, and Singapore will be backed by Costamare Group. Currently, Costamare Bulkers Services Pte. Ltd. operates 45 bulk carriers. 1-November-2022
New York-listed shipowner and operator Costamare sold 2009 built supramax bulk carrier 57K DWT MV Thunder to a Chinese shipowner and operator for around $18 million. New York-listed shipowner and operator Costamare entered into bulker segment 2021. Costamare owns one of the industry’s largest fleets of containerships for charter. In 2021, Costamare acquired 46 dry bulk carriers of diverse sizes (7 Kamsarmax Bulk Carriers, 1 Panamax Bulk Carrier, 5 Ultramax Bulk Carriers, 17 Supramax Bulk Carriers, 16 Handysize Bulk Carriers), these bulk carriers will serve short, medium and long-haul dry bulk trade routes worldwide. In July 2021, Costamare acquired 2009 built supramax bulk carrier 57K DWT MV Thunder for around $14 million. 6-May-2022
Handysize bulk carriers have been providing freight earnings unseen in recent years. The handysize bulk carrier market keeps surprising all market players. On 23 July 2021, the Baltic Exchange Handysize Index (BHSI) bounced to 1,736 points which is the highest point since September 2008. Especially, handysize bulk carriers have been quick to profit from the uneven nature of the post-Covid global economic recovery. Furthermore, old handysize bulk carriers previously considered to be more or less out-of-date have been in tremendous demand. Consequently, handysize bulk carriers are on the shopping lists of prominent Greek shipowners. Athen-based Brave Maritime, Costamare, Alma Shipmanagement & Trading, and Evalend Shipping have been investing in handysize bulk carriers. 25-July-2021
New York-listed shipowner and operator Costamare Inc. (CMRE), which had been a pure-play containership shipowner until the company acquired up to sixteen (16) dry bulk carriers in June 2021. Today, Costamare Inc. published that the company added tween (12) dry bulk carriers. Costamare Inc. (CMRE) is led by Costis Constantakopoulos. According to Costamare Inc. (CMRE), dry bulk carriers are undervalued relative to their current and forward-implied earnings potential. The latest dry bulk carrier acquisitions make Costamare Inc. (CMRE one of the most rapidly expanding companies in the dry bulk market. 2-July-2021