Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 312

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 312
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) below) included in Unearned revenue in current liabilities in the accompanying December 31, 2023 predecessor combined carve-out balance sheet. As of December 31, 2024, the net accrued charter revenue, totaling ($4), (discussed in (b) below) is included in Unearned revenue in current liabilities in the accompanying December 31, 2024 predecessor combined carve-out balance sheet. (b) Unearned Revenue, Current and Non-Current: The amounts presented as current unearned revenue in the accompanying predecessor combined carve-out balance sheets as of December 31, 2023 and 2024, reflect: (a) cash received prior to the balance sheet date for which all criteria to recognize as revenue have not been met and (b) any unearned revenue resulting from charter agreements providing for varying annual charter rates over their term, which were accounted for on a straight-line basis at their average rate.

|                                                      |     | December 31, 
         2023 |     | December 31, 
         2024 |
|:-----------------------------------------------------|:----|-------------:|:----|-------------:|
| Hires collected in advance                           |     |      $26,467 |     |      $22,907 |
| Charter revenue resulting from varying charter rates |     |        1,377 |     |            4 |
| Total                                                |     |      $27,844 |     |      $22,911 |
| Less current portion                                 |     |      -27,844 |     |      -22,911 |
| Non-current portion                                  |     |           $— |     |           $— |

10. Commitments and Contingencies (a) Time charters: As of December 31, 2024, future minimum contractual time charter revenues, assuming 365 revenue days per annum per vessel and the earliest redelivery dates possible, based on vessels’ committed, non-cancellable, time charter contracts, are as follows:

| 12-month period ending December 31, 
 2025                                |     |   Amount 
 $297,440 |
|:------------------------------------|:----|---------:|
| 2026                                |     |    4,699 |
| Total                               |     | $302,139 |

The above calculation includes the time charter arrangements of the Company’s vessels in operation as of December 31, 2024, but excludes i) one dry bulk vessel for which the Company had not secured employment as of December