Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 37

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 37
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 changes in charter rates, which may reduce our revenues and negatively affect our results of operations. We are an independent shipping company that operates in the international dry bulk shipping industry. The international dry bulk shipping industry is both cyclical and volatile in terms of charter rates, freight rates and profitability. Our profitability is dependent upon the charter rates that we are able to charge for our owned and chartered-in ships and on the respective level of rates we have to pay for the ships we charter-in through CBI. Fluctuations in charter rates result from changes in the supply of and demand for vessel capacity and changes in the supply of and demand for the major commodities carried by water internationally. We are exposed to changes in charter rates in the dry bulk market through both traditional vessel ownership as well as our dry bulk operating platform. Since the factors affecting the supply of and demand for dry bulk vessels are outside of our control and are unpredictable, the nature, timing, direction and degree of changes in industry conditions are also unpredictable. The Company may be positioned in the opposite direction prior to an increase or decline of market rates in which case our profitability and cash flows would be adversely affected and the value of our owned fleet could decrease. The demand for dry bulk vessels has generally been influenced by, among other factors:

| • | supply of and demand for energy resources and commodities; |

| • | changes in the exploration or production of energy resources and commodities; |

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| • | the location of regional and global exploration, production and manufacturing facilities; |

| • | the location of consuming regions for energy resources and commodities; |

| • | the globalization of production and manufacturing; |

| • | global and regional economic and political conditions, including armed conflicts, terrorist activities, sanctions, embargoes, strikes, tariffs and “trade wars”; |

| • | economic slowdowns caused by public health events such as the coronavirus (“COVID-19”) pandemic or another epidemic; |

| • | natural disasters, developments and other disruptions in international trade; |

| • | changes in seaborne and other transportation patterns, including the distance cargo products are transported by sea, competition with other modes of cargo transportation and trade patterns; |

| • | environmental and other regulatory developments; |

| • | currency exchange rates; and |

| • | weather. |

Factors that influence the supply of dry bulk vessel capacity include:

| • | the availability of financing; |

| • | the price of steel and other raw materials; |

| • | the number of new