Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 17

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 17
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, its condition and technical specifications, expected remaining useful life, the credit quality of the charterer in the event that there is an attached charter and the overall diversification of our fleet and customers.

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TABLE OF CONTENTS

| • | Cost-Efficient Operating Platform. We believe that we will be a cost-efficient and reliable owner of dry bulk vessels due to our and our managers’ technical expertise, whilst the involvement of the Agency Companies will contribute to the efficient commercial operation of our CBI fleet. |

| • | Commitment to Sustainability and Energy Management.We are dedicated to exploring solutions to mitigate our environmental footprint and actively participate in the creation of a more sustainable future and maritime industry. Since 2022, Costamare Shipping has been a member of the Getting to Zero Coalition and has implemented environmentally friendly solutions such as biofuels and energy-savings retrofits. Via fleet renewal, asset design optimization, performance monitoring and best practice operational management, we seek to improve our overall efficiency. We believe that the Company must continuously work towards improving environmental performance of the fleet to best position ourselves in the commercial landscape. |

Our Market The global dry bulk fleet is essential to global economic activity, transporting a wide array of essential raw materials and commodities across the world. Shipping demand is closely tied to global industrial production trends, with Asia—in particular China—a key driver of demand for dry bulk trade commodities. We believe that the following trends identified by Clarksons Research in the international dry bulk shipping market underpin our growth opportunities:

| • | Seaborne dry bulk trade is projected to grow by approximately 1.0% in 2025; |

| • | Dry bulk trade volumes grew firmly in 2023 and 2024, led by strong trends in China, while a number of disruption factors boosted vessel demand in tonne-mile terms; |

| • | Moderate supply growth expected in the coming years, with the orderbook limited by historical standards at approximately 10% of fleet capacity, in part due to uncertainty around fuel and technology choices, as well as elevated newbuild prices and limited yard slot availability due to firm ordering in other sectors; |

| • | Positive dry bulk shipping market trends seen in 2024 above long-term average earnings levels, with especially firm trends in the Capesize sector after strong demand trends and seasonally softer earnings apparent in early 2025; and |

| • | Growing pressure to reduce emissions across the shipping industry, with fuel technology uncertainty and emissions policies potentially moderating supply growth in the future. |