New York-listed shipowner and operator Costamare Inc. (CMRE) is allocating $114 million to repurchase preferred shares that carry a dividend rate of nearly 9%. This redemption initiative targets perpetual preferred stock initially issued in 2018, for which Costamare Inc. (CMRE) has had a redemption option since January 2023. The company plans to redeem all 4.57 million shares of its Series E stock at $25 per share, inclusive of accrued and unpaid dividends. This repurchase is set at a price established under the terms of the repurchase option available since January 2023. 17-June-2024
The New York-listed shipowner and operator Costamare Inc. (CMRE), via its dry bulk shipping division Costamare Bulkers Services, has successfully chartered in two capesize bulk carriers from the Nasdaq-listed, pure-play capesize owner Seanergy Maritime (SHIP). This strategic move enhances Costamare Bulkers Services’ capabilities in the bulk shipping sector. The first vessel, the 2013-built capesize bulk carrier 181K DWT MV Iconship, has been chartered for approximately two years. The daily hire for this vessel is indexed to the Baltic Capesize Index with a premium, and the charter is expected to commence shortly. Seanergy Maritime (SHIP), led by Stamatis Tsantanis, offers a flexible arrangement whereby the daily hire can be switched from index-linked to a fixed rate for a duration of 2 to 12 months, depending on the capesize Forward Freight Agreement (FFA) curve. Additionally, Costamare Bulkers Services has chartered the 2010-built capesize bulk carrier 178K DWT MV Lordship, also for around two years. The MV Lordship’s charter is slated to begin at the end of July following its scheduled drydocking. The terms for the daily hire of the MV Lordship mirror those established for the MV Iconship, with similar options for converting the hire from index-linked to fixed based on the capesize FFA curve. Furthermore, Seanergy Maritime (SHIP) will retain the majority of earnings from the scrubber profit-sharing arrangement, which capitalizes on the price differential between high-sulfur and low-sulfur fuel, underlining the financial benefits of eco-friendly technologies in maritime operations. This deal not only reinforces Costamare Bulkers Services’ presence in the dry bulk sector but also highlights the ongoing strategic interactions between major players in the maritime industry. 13-June-2024
Costamare Bulkers Services, a division of New York-listed shipowner and operator Costamare Inc. (CMRE), is reinforcing its focus on larger tonnage within the dry bulk sector by acquiring two secondhand capesize bulk carriers. Specifically, the division has purchased the 2012-built capesize bulk carrier 181K DWT MV Frontier Unity and the 179K DWT MV Lowlands Prosperity. These acquisitions increase Costamare Bulkers Services’ capesize fleet to five vessels, averaging about 12 years old. MV Frontier Unity is being bought from Japanese shipowner and operator Nissen Kaiun for approximately $35 million, while MV Lowlands Prosperity is being purchased from Cobelfret for about $30 million. Both vessels come with charters attached. Earlier in Q1 2024, Costamare Bulkers Services expanded its fleet with the acquisition of the 2011-built capesize bulk carrier 180K DWT MV Iron Miracle. Conversely, during the same period, the division sold the 2011-built handysize bulk carrier MV Adventure. Led by Konstantinos Konstantakopoulos, Costamare Inc. (CMRE) ventured into the dry bulk sector in 2021 through its subsidiary, Costamare Bulkers Services. Presently, Costamare Bulkers Services owns and operates 39 bulk carriers, with a trading platform comprising 54 vessels, including newcastlemax bulk carriers, capesize bulk carriers, and kamsarmax bulk carriers. Additionally, Costamare Inc. (CMRE) maintains a fleet of 68 containerships. 13-May-2024
The New York-listed shipowner and operator Costamare Inc. (CMRE), through its dry bulk shipping division Costamare Bulkers Services, is actively pursuing opportunities in the capesize market, capitalizing on a selling spree by the Antwerp-based Cobelfret Bulk Carriers CLdN. Despite a general decline in interest for capesize bulk carriers in the secondhand S&P (Sale and Purchase) market, Costamare Bulkers Services, under the leadership of Athens-based shipowner Konstantinos Konstantakopoulos, is making its first capesize acquisition of 2024. This expansion move sees Costamare Bulkers Services acquiring the 2012 built capesize bulk carrier 179K DWT MV Lowlands Prosperity from Cobelfret Bulk Carriers CLdN for approximately $31 million. This purchase underscores Costamare Bulkers Services’ strategic expansion within the Greek shipping landscape, demonstrating a strong appetite for growth despite market fluctuations. 3-May-2024
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