Company: CMRE-PC
Filing Date: 2025-07-10
Form Type: CORRESP
Source: 0000950157-25-000560
Chunk: 1

Company: Costamare Inc.
Filing Date: 2025-07-10
Form: CORRESP
Chunk 1
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 has in turn allowed you to operate in the different rate environments prevailing for those routes, also indicate how your segment results of operations are correlated with each of these trade routes and describe the effects of the various rate environments, along with any related trends and uncertainties. Response: The Company acknowledges the Staff’s comment and confirms that in future filings, the Company will expand its disclosure to further discuss and analyze the results of operations of each reportable segment, along with any related trends and uncertainties. As an example, set forth below is the Company’s proposed additional disclosure regarding the results of operations of each reportable segment for 2024. The Company expects to include substantially similar additional disclosures in the Report on Form 20-F for the fiscal year ending December 31, 2025 .On May 6, 2025, the Company completed the spin-off of its dry bulk vessels segment and Costamare Bulkers Inc. (“ CBI”) segment into a standalone public company, Costamare Bulkers Holdings Limited. As such, the disclosure below only discusses the results of operations of the Company’s container vessels segment and Neptune Maritime Leasing Limited (“ NML”) segment, the Company’s two remaining reportable segments following completion of the spin-off. “Year ended December 31, 2024 compared to year ended December 31, 2023 – Container vessels segment During the years ended December 31, 2024 and 2023, we had an average of 68.0 and 67.6 container vessels, respectively, in our owned fleet. During the year ended December 31, 2023, we (i) sold our 49% equity interest in the company owning the 2018-built, 3,800 TEU capacity containership, Polar Argentinato York Capital, (ii) acquired the 51% equity interest of York Capital in the 2018-built, 3,800 TEU capacity containership Polar Brasiland as a result we obtained 100% of the equity interest in the vessel and (iii) acquired the 51% equity interest of York Capital in the 2001-built, 1,550 TEU capacity containership Arkadiaand as a result we obtained 100% of the equity interest in the vessel. In addition, during the year ended December 31, 2023, we sold the container vessels Maersk Kalamata, Sealand Washingtonand Oaklandwith an aggregate TEU capacity of 18,182. In the years ended December 31,