Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 264

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 264
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 quarterly reports containing our unaudited interim financial information for the first three fiscal quarters of each fiscal year. Our annual report will contain a detailed statement of any transactions between us and our related parties.

| I. | Subsidiary Information |

Not applicable.

| J. | Annual Report to Security Holders |

Not applicable.

144

TABLE OF CONTENTS

| ITEM 11. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |

| A. | Quantitative Information About Market Risk Interest Rate Risk |

The shipping industry is a capital intensive industry, requiring significant amounts of investment. Much of this investment is provided in the form of long-term debt. Our debt usually contains interest rates that fluctuate with the financial markets. Increasing interest rates could adversely impact future earnings. From time to time, we take positions in interest rate derivative contracts to manage interest costs and risk associated with changing interest rates with respect to our floating-rate debt. Generally, our approach is to economically hedge our floating-rate debt based on our outlook for interest rates and other factors. Our interest expense is affected by changes in the general level of interest rates, primarily SOFR based rates. As an indication of the extent of our sensitivity to interest rate changes, an increase of 100 basis points in the reference rates would have decreased our net income and cash flows during the fiscal year ended December 31, 2024 by approximately $1.7 million based upon our debt level during such period. As of December 31, 2024, we had outstanding bank loan indebtedness of $339.3 million. The following table sets forth the sensitivity of our outstanding long-term debt, including the effect on our statement of operations of our derivative contracts (if any) to a 100 basis points increase in the aforementioned reference rates during the next five years on the same basis. Net Difference in Earnings and Cash Flows (in millions of U.S. dollars):

| Year |     | Amount |
| 2025 |     |    3.2 |
| 2026 |     |    2.9 |
| 2027 |     |    2.6 |
| 2028 |     |    2.3 |
| 2029 |     |    1.1 |

Derivative Financial Instruments Interest Rates According to our long-term strategic plan to maintain stability in our interest rate exposure, we may decide to minimize our exposure to floating interest rates by entering into interest rate swap/cap agreements. To this