Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 191

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 191
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, were charged by related agency companies, respectively, in connection with the operations of CBI.

General and Administrative Expenses – related parties

General and administrative expenses – related parties for the year ended December 31, 2024 amounted to $3.9 million, of which (i) $3.0 million represents the pro-rata basis portion value of the shares issued to a related manager on March 29, 2024, June 28, 2024, September 30, 2024 and December 30, 2024 and (ii) $0.9 million represents the pro-rata basis portion of the annual fee of $2.7 million that was paid to a related manager. General and administrative expenses – related parties for the year ended December 31, 2023 amounted to $3.3 million, of which (i) $2.3 million represents the pro-rata basis portion value of the shares issued to a related manager on March 30, 2023, June 30, 2023, September 29, 2023 and December 29, 2023 and (ii) $1.0 million represents the pro-rata basis portion of the annual fee of $2.7 million that was paid to a related manager.

Amortization of Dry-Docking and Special Survey Costs

Amortization of deferred dry-docking and special survey costs was $6.3 million and $4.4 million during the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, four vessels underwent and completed their dry-docking and special surveys. During the year ended December 31, 2023, eight vessels underwent and completed their dry-docking and special surveys and one vessel was in the process of completing her dry-docking and special survey.

Depreciation

Depreciation expense for the years ended December 31, 2024 and 2023 was $37.4 million and $39.6 million, respectively.

Gain / (loss) on Sale of Vessels, net

During the year ended December 31, 2024, we recorded a net gain of $3.8 million from the sale of the dry bulk vessels Manzanillo , Progress , Konstantinos , Merida , Alliance , Pegasus , Adventure , Oracle, Titan I and Discovery . During the year ended December 31, 2023, we recorded an aggregate net loss of