Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 15

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 3
Chunk 15
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 delay by the seller or shipyard in the delivery date of any vessel we contract to purchase will reduce our expected income from that vessel and, if the vessel is already chartered, may lead the charterer of such vessel to claim damages or to cancel the relevant charter. If the seller of any vessel we contract to purchase is not able to build and/or to deliver the vessel to us as agreed, or if we cancel a purchase agreement because a seller has not met his obligations, it may result in a material adverse effect on our business, results of operations and financial condition, as well as our cash flows, including cash available for dividends to our stockholders.
 

The expected delivery dates under any shipbuilding contracts or purchase agreements we may enter into in the future, may be delayed or the relevant contract may be cancelled for reasons not under our control, including, among other things:
 

•   quality or engineering problems;
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•   breach of contract by, or disputes with, our counterparties;
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•   changes in governmental regulations or maritime self-regulatory organization standards;
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•   work stoppages or other labor disturbances at the shipyard;
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•   bankruptcy of or other financial crisis involving the shipyard or other seller;
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•   a backlog of orders at the shipyard;
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•   sanctions imposed on the seller, the shipyard, or the vessel; political, social or economic disturbances;
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•   weather interference or a catastrophic event, such as a major earthquake or fire, or other accident;
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•   disruptions due to an epidemic or pandemic;
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•   requests for changes to the original vessel specifications;
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•   shortages of or delays in the receipt of necessary construction materials, such as steel;
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•   an inability to obtain requisite permits or approvals;
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•   financial instability of the lenders under our committed credit facilities, resulting in potential delay or inability to draw down on such facilities; and
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•   financial instability of the charterers under our agreed time charters for the newbuild vessels, resulting in potential delay or inability to charter the newbuild vessels.
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We are dependent on our charterers and other counterparties fulfilling their obligations under agreements with us, and their inability or unwillingness to honor these obligations could have a material adverse effect on our results of operations