Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 57

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 57
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—4.B. Business Overview—Our Fleet”. We cannot assure you that, as our owned vessels age, market conditions will justify such expenditures or will enable us to profitably operate our older vessels. The market value of our owned vessels can fluctuate substantially over time, and if these values are low at a time when we are attempting to dispose of a vessel, we could incur a loss, which would adversely affect our financial condition and could impair our ability to pay dividends. Dry bulk vessel values can fluctuate substantially over time due to a number of different factors, including:

| • | prevailing economic conditions affecting the international dry bulk shipping industry; |

| • | reduced demand for dry bulk vessels, including as a result of a substantial or extended decline in world trade; |

| • | increases in the supply of vessel capacity; |

| • | changes in prevailing charter hire rates; |

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| • | the physical condition, size, age and technical specification of the ships; |

| • | the costs of building new vessels; |

| • | changes in technology which can render older vessels obsolete; |

| • | the relative environmental efficiency of the vessel, as compared to others in the markets in which our vessels operate; |

| • | whether the vessel is equipped with an exhaust gas scrubber or not; and |

| • | the cost of retrofitting or modifying existing ships to respond to technological advances in vessel design or equipment, changes in applicable environmental or other regulations or standards, customer requirements or otherwise. |

The risk of realizing a loss on the sale of a vessel is greater during periods when vessel values are low compared to their historical levels. In the future, we may sell any of our owned vessels under unfavorable conditions resulting in losses in order to maintain sufficient liquidity and to allow us to cover our operating costs. If the market values of our owned vessels deteriorate, we may be required to record an impairment charge in our financial statements, which could adversely affect our results of operations. In addition, any such deterioration in the market values of our owned vessels could trigger a breach of certain covenants under our credit facilities, which could adversely affect our operations. If a charter expires or is terminated, we may be unable to re-charter the vessel at an acceptable rate and, rather than continue to incur costs to maintain the vessel, may seek to dispose of it. Our inability to dispose of the vessel at a reasonable price could result in a loss on its sale and could materially and adversely affect our business, results