Company: CMRE-PC
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001140361-25-005199
Chunk: 3

Company: Costamare Inc.
Filing Date: 2025-02-20
Form: 20-F
Item: Item 3
Chunk 3
---
 health events such as the coronavirus (“COVID-19”) pandemic or another epidemic;
------------------------------------------------------------------------------------------------------------------------

•   natural disasters, developments and other disruptions in international trade;
---------------------------------------------------------------------------------

•   changes in seaborne and other transportation patterns, including the distance cargo products are transported by sea, competition with other modes of cargo transportation and trade patterns;
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

•   environmental and other regulatory developments;
----------------------------------------------------

•   currency exchange rates; and
--------------------------------

•   weather.
------------
 

Factors that influence the supply of containership and dry bulk vessel capacity include:
 

•   the availability of financing;
----------------------------------

•   the price of steel and other raw materials;
-----------------------------------------------

•   the number of newbuilding orders and deliveries, including slippage in deliveries;
--------------------------------------------------------------------------------------

•   the cost of newbuildings and the time it takes to construct a newbuild;
---------------------------------------------------------------------------

•   the number of shipyards and ability of shipyards to deliver vessels;
------------------------------------------------------------------------

•   port and canal congestion;
------------------------------

•   scrap prices and the time it takes to scrap a vessel;
---------------------------------------------------------

•   speed of vessel operation;
------------------------------

•   costs of bunkers and other operating costs;
-----------------------------------------------

•   vessel casualties;
----------------------

•   the efficiency and age profile of the existing containership and dry bulk fleet in the market;
--------------------------------------------------------------------------------------------------

•   the number of vessels that are out of service, namely those that are laid-up, dry-docked, awaiting repairs or otherwise not available for hire;
---------------------------------------------------------------------------------------------------------------------------------------------------

•   the economics of slow steaming;
-----------------------------------

•   government and industry regulation of maritime transportation practices, particularly environmental protection laws and regulations; and
--------------------------------------------------------------------------------------------------------------------------------------------

•   sanctions (in particular, sanctions on Iran, Russia and Venezuela, amongst others).
---------------------------------------------------------------------------------------
 
These factors influencing the supply of and demand for shipping capacity are outside of our control, and we may not be able to correctly assess the nature, timing and degree of changes in industry conditions.
 
Our ability to re-charter our vessels upon the expiration or termination of their current charters and to charter our vessels for which we have not yet secured charters and the charter rates payable under any renewal options or replacement or new charters will depend upon, among other things, the prevailing states of the containership and dry bulk charter markets. If the charter markets are depressed when our vessels’ chart