Costamare diversifies into dry bulk
(Posted on 18/06/21)
Costamare Inc. has announced the acquisition of 16 dry bulk vessels of between 33,000 and 85,000 DWT, with an average age of 10 years. The vessels are currently operating in the spot market. Two of the ships have been delivered with the rest of the vessels expected to be delivered latest by January 2022.
Gregory Zikos, Chief Financial Officer of the Company, said: “We are pleased to announce the acquisition of dry bulk vessels. We have decided to invest in a liquid sector with strong fundamentals that provide enhanced return opportunities for our shareholders.
The ships will be managed through our existing platform headed and enriched by the dry bulk Onassis team, who will be joining Costamare in July. The acquisitions will initially be funded with cash on hand, and the Company is in the process of arranging commercial bank debt. Considering the nature of the dry bulk business, we plan to have low leverage of up to 60% of the value of the assets.
We look forward to providing a detailed update on our business strategy during our second quarter results.”
Costamare is one of the world’s leading owners and providers of containerships for charter. The Company has 47 years of history in the international shipping industry and a fleet of 81 containerships, with a total capacity of approximately 581,000 TEU and 16 dry bulk vessels with a total capacity of approximately 932,000 DWT.
Latest News
New ICS guide helps seafarers navigate digital bridge
(Posted on 20/01/22)The newly launched edition of the Bridge Procedures Guide from the International Chamber of Shipping... Read more
One Sea appointment advances autonomous ship rule agenda
(Posted on 20/01/22)One Sea, the high-profile ecosystem leading the way towards an operating autonomous maritime ecosystem... Read more
North makes key fixed premium P&I appointments
(Posted on 20/01/22)Global marine insurer North has reinforced its strategy for premium diversification with two major additions... Read more
Singapore still leading maritime city
(Posted on 15/01/22)The 2022 edition of the Leading Maritime Cities (LMC) report has been launched at an event hosted by... Read more
DNV Conference shows collaboration is shipping’s fuel of future
(Posted on 15/01/22)Participants from across the maritime value chain have participated in the DNV Conference – The... Read more
CCS appoints new president
(Posted on 08/01/22)China Classification Society has announced the appointment of a new President and vice president. Founded... Read more
New Sea Change Fund for seafarers in crisis
(Posted on 08/01/22)Maritime charity Sailors’ Society has launched a new fund to provide urgent welfare grants for... Read more
ClassNK to make electronic certificates and reports as standard
(Posted on 20/12/21)Leading Classification Society ClassNK will make electronic certificates and reports issued for ships... Read more
Saudi shipowners commit 100+ vessels to CSM
(Posted on 20/12/21)A leading group of progressive Saudi owners and operators have committed over 100 offshore assets to... Read more
BMA announces agreement for representation in South Korea
(Posted on 20/12/21)The Bahamas Maritime Authority (BMA) announces that it has signed an agreement with Ben Line Agencies... Read more
