Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 190

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 190
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, Peace, Prideand Cetuswith an aggregate dwt of 248,655. In the years ended December 31, 2024 and 2023, our fleet ownership days totaled 13,773 and 15,975 days, respectively. Ownership days are one of the primary drivers of voyage revenue and vessels’ operating expenses and represent the aggregate number of days in a period during which each vessel in our owned fleet is owned.

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TABLE OF CONTENTS

Predecessor Combined Carve-Out Financial Results and Vessels’ Operational Data

| (Expressed in millions of U.S. dollars,               
 except percentages)                                   | 2023 |     | Year ended December 31, | 2024 |     |          |     | Change |     | Percentage 
 Change     |
|:------------------------------------------------------|:-----|:----|------------------------:|:-----|:----|---------:|:----|-------:|:----|:-----------|
| Voyage revenue                                        |      |     |                  $663.1 |      |     |   $985.3 |     | $322.2 |     | 48.6%      |
| Voyage revenue – related parties                      |      |     |                       — |      |     |    210.1 |     |  210.1 |     | n.m.       |
| Total voyage revenue                                  |      |     |                  $663.1 |      |     | $1,195.4 |     |  532.3 |     | 80.3%      |
| Voyage expenses                                       |      |     |                  -266.2 |      |     |   -342.5 |     |   76.3 |     | 28.7%      |
| Charter-in hire expenses                              |      |     |                  -340.9 |      |     |   -706.6 |     |  365.7 |     | n.m.       |
| Voyage expenses – related parties                     |      |     |                    -2.1 |      |     |     -9.4 |     |    7.3 |     | n.m.       |
| Vessels’ operating expenses                           |      |     |                   -97.2 |      |     |    -82.3 |     |  -14.9 |     | -15.3%     |
| General and administrative expenses                   |      |     |                    -9.