Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 314

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 314
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 combined carve-out statement of operations.

As of December 31, 2024, the Company did not hold any interest rate caps.

As of December 31, 2023, the Company had interest rate cap agreements with an outstanding notional amount of $185,403. The fair value of these derivatives outstanding as of December 31, 2023 amounted to an asset of $7,944 and these are included in the accompanying predecessor combined carve-out balance sheets. The maturity of these derivatives ranged between July 2026 and January 2027.

(b) Interest rate caps that do not meet the criteria for hedge accounting: As of December 31, 2023 and 2024, the Company did not hold any interest rate caps that do not qualify for hedge accounting.

(c) Forward Freight Agreements (“FFAs”), Bunker swap agreements and EUA futures: As of December 31, 2023 and 2024, the Company had a series of bunker swap agreements, none of which qualify for hedge accounting. The fair value of these derivatives outstanding as of December 31, 2023 and 2024 amounted to a net liability of $2,510 and a net liability of $447, respectively.

As of December 31, 2024, the Company had a series of EUA futures, none of which qualify for hedge accounting. The fair value of these derivatives outstanding as of December 31, 2024 amounted to an asset of $307.

As of December 31, 2023 and 2024, the Company had a series of FFAs, none of which qualify for hedge accounting. The fair value of these derivatives outstanding as of December 31, 2023 and December 31, 2024 amounted to a net asset of $11,211 and a net liability of $19,155, respectively. Following ASC 815 provisions and on the basis that enforceable master netting arrangement exists, the Company adopted net presentation for the assets and liabilities of these instruments. As of December 31, 2023 and 2024, the Company deposited cash collateral related to its FFA derivative instruments, bunker swaps and EUA futures of $13,748 and $45,221, respectively, which is recorded within margin deposits in the accompanying predecessor combined carve-out balance sheets. The amount of collateral to be posted is defined in the terms of the respective agreements executed with counterparties and is required when the agreed upon threshold limits are exceeded.

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