Company: CMRE-PC
Filing Date: 2025-07-10
Form Type: CORRESP
Source: 0000950157-25-000560
Chunk: 2

Company: Costamare Inc.
Filing Date: 2025-07-10
Form: CORRESP
Chunk 2
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 2024 and 2023, our containership fleet ownership days totaled 24,888 and 24,677 days, respectively. Total Voyage Revenue Total voyage revenue for the container vessels segment increased by 3.0%, or $25.2 million, to $864.6 million during the year ended December 31, 2024, from $839.4 million during the year ended December 31, 2023. The increase is mainly attributable to (i) decreased fleet off-hire and idle days in the year ended December 31, 2024 compared to the year ended December 31, 2023, (ii) revenue earned by two container vessels acquired during the second and fourth quarter of 2023, respectively and (iii) contractual reimbursements from certain of our charterers for EU Emissions Allowances (EUAs), since January 1, 2024; partly offset by revenue not earned by one container vessel sold during the year ended 2023. 2 Voyage Expenses Voyage expenses for the container vessels segment were $25.8 million and $12.5 million for the years ended December 31, 2024 and 2023, respectively. Voyage expenses increased, year over year, mainly due to the recognition of liabilities for EUAs and relevant expenses, since January 1, 2024. However, a significant portion of these liabilities are contractually reimbursed by the charterers, as discussed in “Total Voyage Revenue”,mitigating the impact on the Segment net expenses. Voyage expenses mainly include (i) fuel consumption, (ii) third-party commissions, (iii) port expenses, (iv) canal tolls and (v) EUAs liabilities. Voyage Expenses - related parties Voyage expenses - related parties were $12.2 million and $11.9 million for the years ended December 31, 2024 and 2023, respectively. Voyage expenses - related parties for the container vessels segment represent (i) fees of 1.25%, in the aggregate, on voyage revenues earned by our owned containership fleet charged by a related manager and a related service provider and (ii) charter brokerage fees (in respect of our container vessels) payable to two related charter brokerage companies for an amount of approximately $1.5 million and $1.4 million, in the aggregate, for the years ended December 31, 2024 and 2023, respectively. Vessels’ Operating Expenses Vessels’ operating expenses for the container vessels segment