Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 43

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 43
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 flows, including cash available for dividends to our shareholders.

An increase in trade protectionism, the unravelling of multilateral trade agreements and a decrease in the level of China’s export of goods and import of raw materials could have a material adverse impact on our charterers’ business and, in turn, could cause a material adverse impact on our results of operations, financial condition and cash flows.

Our operations expose us to the risk that increased trade protectionism will adversely affect our business. Recently, government leaders have declared that their countries may turn to trade barriers to protect or revive their domestic industries in the face of foreign imports, thereby depressing the demand for shipping.

The U.S. government has made statements and taken actions that may impact U.S. and international trade policies, including tariffs affecting certain Chinese industries. Additionally, the second Trump administration has imposed and may continue to impose additional tariffs on imports from Canada, Mexico and China as well as on imports of steel and aluminum. The second Trump administration has also announced plans to impose tariffs on imports from the European Union. It is unknown whether and to what extent new tariffs (or other new laws or regulations) will be adopted, or the effect that any such actions would have on us or our industry. If any new tariffs, legislation and/or regulations are implemented, or if existing trade agreements are renegotiated, such changes could have an adverse effect on our business, results of operations and financial condition.

The U.S.-China trade tension, including the second Trump administration’s recent economic and trade-related proposals, may provoke further retaliatory trade actions from the affected countries and could have an adverse effect on our business, financial condition, and results of operations. For example, in February 2025, the Office of the U.S. Trade Representative proposed imposing substantial service fees on Chinese-built or operated vessels entering U.S. ports. The proposal is subject to final determination by the Trump administration, and, if enacted, could impose millions of dollars in new fees each time any such vessel enters a U.S. port, adding costs that would likely be passed down to U.S. importers and exporters through higher freight rates. For example, as of March 13, 2025, 23 of our 38 owned vessels were built in Chinese yards and 29 of our chartered-in vessels (including one vessel from our owned fleet) were also built in Chinese yards. We may be subject to these fees if enacted, which could have an adverse affect our business, financial condition, and results of operations.

Furthermore, the