Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 194

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 194
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 the pro-rata basis portion of the annual fee of $2.7 million that was paid to a related manager. General and administrative expenses – related parties for the year ended December 31, 2023 amounted to $3.3 million, of which (i) $2.3 million represents the pro-rata basis portion value of the shares issued to a related manager on March 30, 2023, June 30, 2023, September 29, 2023 and December 29, 2023 and (ii) $1.0 million represents the pro-rata basis portion of the annual fee of $2.7 million that was paid to a related manager.

Amortization of Dry-Docking and Special Survey Costs

Amortization of deferred dry-docking and special survey costs was $6.3 million and $4.4 million during the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, four vessels underwent and completed their dry-docking and special surveys. During the year ended December 31, 2023, eight vessels underwent and completed their dry-docking and special surveys and one vessel was in the process of completing her dry-docking and special survey.

Depreciation

Depreciation expense for the years ended December 31, 2024 and 2023 was $37.4 million and $39.6 million, respectively.

Gain / (loss) on Sale of Vessels, net

During the year ended December 31, 2024, we recorded a net gain of $3.8 million from the sale of the dry bulk vessels Manzanillo , Progress , Konstantinos , Merida , Alliance , Pegasus , Adventure , Oracle, Titan I and Discovery . During the year ended December 31, 2023, we recorded an aggregate net loss of $5.3 million from the sale of the dry bulk vessels Taibo , Peace , Pride , Cetus , Miner and Comity .

Vessels Held for Sale

We did not record any loss on any vessels held for sale during the year ended December 31, 2024. During the year ended December 31, 2023, we recorded a loss on vessels held for sale of $2.3 million, representing the expected loss from the sale of the dry bulk vessels Konstantinos and Progress during the next twelve-month period. Furthermore, during the year ended December 31,