Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 300

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 300
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, net in the accompanying combined carve-out statement of operations for the year ended December 31, 2024. During the year ended December 31, 2023, the Company acquired three secondhand dry bulk vessels the Enna(ex. Aquaenna), the Dorado(ex. Aquarange) and the Arya(ex. Ultra Regina) with an aggregate capacity of 417,241 DWT. Furthermore, during the year ended December 31, 2023, the Company sold the dry bulk vessels Miner, Taibo, Comity, Peace, Prideand Cetusand recognized an aggregate net loss of $5,324, which is included in Gain / (loss) on sale of vessels, net in the accompanying predecessor combined carve-out statement of operations for the year ended December 31, 2023.

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TABLE OF CONTENTS

COSTAMARE BULKERS HOLDINGS LIMITED PREDECESSOR Notes to Combined Carve-out Financial Statements December 31, 2023 and 2024 (Expressed in thousands of U.S. dollars, except share and per share data, unless otherwise stated) On December 14 and 20, 2023, the Company decided to make arrangements to sell the dry bulk vessels Konstantinosand Progress, respectively. On these dates, the Company concluded that all the criteria required by the relevant accounting standard, ASC 360-10-45-9, for the classification of these vessels as “held for sale” were met. As of December 31, 2023, the amount of $20,790, included in Vessels held for sale in the December 31, 2023 predecessor combined carve-out balance sheet, represented the fair market value of the vessels based on the vessels’ estimated sale price, net of commissions (Level 2 inputs of the fair value hierarchy). The difference between the estimated fair value less cost to sell the vessels and the vessels’ carrying value, amounting to $2,305, was recorded in the year ended December 31, 2023, and is separately reflected as Loss on vessels held for sale in the accompanying predecessor combined carve-out statement of operations. Both vessels were delivered to their new owners during the first quarter of 2024. On December 2 and 18, 2023, the Company decided to make arrangements to sell the dry bulk vessels Adventureand Manzanillo, respectively .On these dates, the Company concluded that all the criteria required by the relevant accounting standard, ASC 360