CMRE News & Events

Reports Q4 voyage revenue $202.7M vs. 217.7M last year. FY25 financial results reflect the spin-off of Costamare's dry bulk business into a standalone public company, which was completed on May 6, 2025. Accordingly, the results of the dry bulk business are presented as discontinued operations for all periods shown. "During the Q4 of the year, the Company generated Net Income of about $73M. Net Income for the whole year was about $370M with liquidity of $590M. Executing on our strategy of securing long-term cash flows from high-quality counterparties in a healthy market environment, we have forward-chartered 12 vessels, from 4,000 to 14,000 TEUs, all commencing over the next three years, with a TEU-weighted average duration of six years. Incremental contracted revenues from the new charters amount to approximately $940M. As a consequence, the fleet employment now stands at 96% and 92% for 2026 and 2027, respectively. Total contracted revenues have reached $3.4B, with a remaining time charter duration of 4.5 years. With an idle fleet of less than 1%, the charter market remains strong with continued high demand for tonnage and limited supply of ships available for charter due to the ongoing shortage of prompt ships. With respect to Neptune Maritime Leasing, in which we hold a controlling interest, 54 shipping assets have been funded or are on a commitment status basis, with total investments and commitments exceeding $665M."

Reports Q3 voyage revenue $215.9M vs. $219.5 last year. Gregory Zikos, Chief Financial Officer of Costamare Inc., commented: "During the third quarter of the year, the Company generated Net Income of about $99 million. After the spin-off of Costamare Bulkers Holdings Limited, Costamare Inc. remains the sole shareholder of 69 containerships as well as the controlling shareholder of Neptune Maritime Leasing. In September, following up from our previously announced order of four 3,100 TEU capacity containership newbuildings, we exercised our option for two more sister ships, to be delivered in Q1 2028. Upon delivery they will also commence an 8-year time charter with a first class liner company. Since last quarter, we have also fixed 8 vessels with a forward start for periods ranging from 12 to 38 months. These transactions resulted in increased contracted revenues of above $310 million. Our fleet employment stands at 100% and 80% for 2025 and 2026, respectively. Total contracted revenues amount to $2.6 billion with a remaining time charter duration of 3.2 years. Regarding the market, the positive outcome from the latest trade discussions between US and China and the delay in the implementation of port fees should positively contribute to global increased trade flows. With idle fleet of less than 1% the charter market remains strong with rates fixed at healthy and stable levels on the back of vessel shortage and steady demand. Finally, with regards to Neptune Maritime Leasing, the growing leasing platform, 50 shipping assets have been funded or are on a commitment status basis and total investments and commitments are exceeding $650 million."

Costamare announced the election of two Class III directors at the Company's virtual annual meeting of stockholders held today. The elected Class III directors are Konstantinos Konstantakopoulos and Charlotte Stratos who were elected to hold office for a term ending at the annual meeting of stockholders in 2028 and until their successors have been duly elected and qualified. Stockholders also ratified the appointment of Ernst & Young Certified Auditors Accountants S.A. as the Company's independent auditors for the fiscal year ending December 31, 2025.