Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 148

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 148
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 accurate. Clarksons Research has advised that: (i) some information in Clarksons Research’s database is derived from estimates or subjective judgments; (ii) the information in the databases of other maritime data collection agencies may differ from the information in Clarksons Research’s database; and (iii) whilst Clarksons Research has taken reasonable care in the compilation of the statistical and graphical information and believes it to be accurate and correct, data compilation is subject to limited audit and validation procedures and may accordingly contain errors. Overview

| • | The global dry bulk fleet plays a central role in global economic activity, transporting a wide selection of essential raw materials and commodities across a diverse global geography. |

| • | 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. |

| • | 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. |

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

International Shipping Industry The maritime shipping industry is fundamental to international trade, being the only practicable, cost effective and carbon efficient means of transporting large volumes of many essential commodities and finished goods. In 2024, total annual world seaborne trade amounted to 12.6 billion tonnes and 1.5 tonnes per capita, of which dry bulk cargoes, transported by the dry bulk shipping industry, amounted to over 5.7 billion tonnes (45% of the total). For comparison, the oil tanker fleet transported around 3.0 billion tonnes of cargo in 2024 (24% of the total), while the containership fleet moved 1.9 billion tonnes of cargo last year (15% of the total). Marine transportation also offers benefits from an environmental perspective, with the industry registering as