Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 77

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 4
Chunk 77
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 other third-party managers. We believe that having several management companies, both affiliates and third-party, provides us with a deep pool of operational management in multiple locations with market-specific experience and relationships, as well as the geographic flexibility needed to manage and crew our large and diverse fleet so as to provide a high level of service, while remaining cost-effective.
 
Since the fourth quarter of 2022, we operate a dry bulk operating platform under Costamare Bulkers which charters-in/out dry bulk vessels, enters into contracts of affreightment, forward freight agreements and utilizes hedging solutions. As of February 12, 2025, the dry bulk operating platform has chartered-in for a period, 50 vessels with a total carrying capacity of approximately 7,997,000 dwt, all of which have already been delivered and subsequently are or will be employed under voyage charters or sub time charters. Additionally, the dry bulk operating platform has contracted to charter-in two vessels, which are currently under construction, once they are delivered to their third-party owners.
 
As described below, the dry bulk operating platform receives chartering, cargo sourcing and/or research services from agencies in Copenhagen, Hamburg, Singapore and Japan, which are controlled by our chairman and chief executive officer, Konstantinos Konstantakopoulos and our chief financial officer, Gregory Zikos.
 
In March 2023, we agreed to invest in the Neptune leasing business and acquired the controlling interest of Neptune. Neptune was originally established in 2021 to acquire, own and finance (via bareboat charter agreements) vessels through its wholly-owned subsidiaries. As described below, Neptune’s strategy is to build a portfolio of long-term financing contracts through sale and leaseback transactions in the maritime sector while also utilizing bank financing.
 

Our Fleet
 
Our Containership Fleet
 
The tables below provide additional information about our fleet of containerships as of February 12, 2025. Some of our vessels are subject to sale and leaseback transactions as indicated here below. Each vessel is a cellular containership, meaning it is a dedicated container vessel.
Current Containership Fleet
 

             Vessel Name              Charterer       Year   Capacity    Current Daily      Expiration of  
                                                     Built    (TEU)     Charter Rate(1)       Charter(2)   
                                                                         (U.S. dollars)                    
-----------------------------------------------------------------------------------------------------------
 1   TRITON                        Evergreen          2016     14,424   (*)               March 2026       
 2   TITAN(i