Athens-based container shipper Costamare Inc., reported positive results on Monday for the fourth quarter and year ended December 31, 2013, while also revealing orders for nine newbuild containerships to be delivered starting from the end of 2015. In their latest report, Costamare reported a net income of $26.9 million and $103.1 million for the three months and the year … [Read more...]
Costamare Enters $500 Million Joint Venture to Expand Fleet of Boxships
Athens-based containership owner/charterer, Costamare Inc. (NYSE:CMRE) announced today a new joint venture with investment advisor firm, York Capital Management Global Advisors to invest up to a half-billion dollars in the acquisition of container vessels. Gregory Zikos, Costamare's Chief Financial Officer commented on the new agreement: “The structure of the … [Read more...]
Costamare Purchases Containership, Announces New Charter Agreements with Evergreen
Athens-based containership owner/operator, Costamare Inc. (NYSE: CMRE) announced today that it has purchased the 15 year-old, 2,458 TEU container vessel Messini (ex. Pembroke) for $6.8 million, and that they will charter the vessel with Evergreen for a period of approximately 18 months at a daily rate of $8,100. In addition, Costamare has also agreed to charter the … [Read more...]
Costamare Mulling Ship Purchases as Competitors Struggle
(Bloomberg) -- Costamare Inc., the Greek owner of 46 chartered container ships, is looking to acquire more vessels as asset values in the shipping industry fall, even as many rivals struggle to make profit amid low prices to carry freight. “We make sure that everywhere the markets go, we are well- capitalized and that we can make acquisitions and investments if … [Read more...]
Costamare Optimistic on Containership Market, Newbuilds and Aquisitions to Continue
SINGAPORE (Dow Jones)-- Greek shipping company Costamare Inc. (CMRE) will probably continue to grow through new builds and acquisitions and it remains optimistic about the global containership market, a company executive said Thursday. "We've recently done some acquisitions and will continue to seek opportunistic buys," Chief Financial Officer Gregory Zikos said, adding that … [Read more...]
Costamare Sells “Gifted” and “Genius I” for Demolition, Buys 2 More Containerships
Costamare Inc. (NYSE: CMRE), an Athens-based owner and charterer of containerships announced today that it has agreed to sell two 1984-built containerships, the Gifted, and the Genius I, for demolition. At the same time, Costamar agreed to purchase two 1998-built, 3,842 TEU vessels, the Bunga Raya Dua, and the Bunga Raya Satu, which will replace the vessels sold in their … [Read more...]