Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 185

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 7
Chunk 185
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 purchase, insurance and general and administrative services directly or together with V.Ships Greece directly or, upon being directed to do so, through V.Ships Shanghai. During the years ended December 31, 2023 and 2024, Costamare Shipping charged in aggregate to Joint Venture entities the amount of $2.0 million and nil, respectively, for services provided in accordance with the respective management agreements, including $0.5 million and nil, respectively, charged by third-party managers.
 
On January 1, 2018, Costamare Shipping entered into the Brokerage Agreement with Blue Net, as amended from time to time, which provides chartering brokerage services to our containerships and to the containerships acquired pursuant to the Framework Deed, as well as to other third-party containerships. Our chairman and chief executive officer, Konstantinos Konstantakopoulos, controls 50% of Blue Net. Blue Net provided until August 2021 chartering brokerage services in exchange for a fee to the vessels belonging to a chartering pool which included one of our vessels. In addition, on March 31, 2020, Costamare Shipping agreed, on behalf of the owners of five vessels it manages, to pay Blue Net Asia, a company 50% owned by our chairman and chief executive officer, a commission of 1.25% of the gross daily hire earned from the charters arranged by Blue Net Asia for such five vessels. Blue Net does not provide its services to the five vessels for which charter brokerage services are being provided by Blue Net Asia.
 
Konstantinos Konstantakopoulos owns 47.5% of the shares and voting rights of the International Institute of Maritime Education (“IIME”), which cooperates with the Business College of Athens, a private educational institution, for the provision of the certain on-line academic bachelor’s or master’s degrees in Maritime Business, Ship Management, Marine Engineering Management and Maritime Cyber Security. The Company agreed to offer grants of up to €2,000 per seafarer towards the fees for the aforementioned degrees or any individual course offered thereunder leading to a certificate or diploma from the Business College of Athens, up to €200,000 in total grants in each of 2023 and 2024 for enrollment up to October 2023 and October 2024, respectively. Additionally, IIME is providing a discount to our seafarers of up to 30% of the total fees per student, depending on the qualification sought.
 
Procedures