Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 114

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 114
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 to Costamare Inc. shareholders who will receive our shares in the spin-off. You should not construe this registration statement as an inducement or encouragement to buy, hold or sell any of our securities or any securities of Costamare Inc. We

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believe that the information contained in this registration statement is accurate as of the date set forth on the cover. Changes to the information contained in this registration statement may occur after that date, and neither we nor Costamare Inc. undertakes any obligation to update the information except in the normal course of our respective public disclosure obligations and practices.

| B. | Business Overview |

We are an international owner and operator of dry bulk vessels providing worldwide transportation of dry bulk commodities for a broad range of customers. As of March 13, 2025, our owned fleet consists of 38 vessels, with a total carrying capacity of approximately 3,017,000 dwt, including one vessel that we have agreed to sell, with a carrying capacity of approximately 76,600 dwt. As of March 13, 2025, the dry bulk operating platform has chartered-in for a period, 53 vessels with a total carrying capacity of approximately 8,564,000 dwt (including five vessels chartered-in from our owned fleet), all of which have been delivered (except for one vessel) and are or will be employed under voyage charters or sub time charters. Furthermore, CBI has contracted to charter-in two Kamsarmax vessels, which are currently under construction, once they are delivered to their third-party owners. From time to time, CBI may enter into similar vessel charter-in agreements with purchase options. See “Item 4. Information on the Company—4.B. Business Overview—Our Fleet”. Our vessels transport a broad range of major and minor bulks across global shipping routes. Iron ore, coal and grain constitute the majority of our cargoes, representing approximately 70%, 14% and 5%, respectively, of our cargoes for the year ended December 31, 2024. Bauxite and other minor bulks represent 3% and 8%, respectively, of our cargoes for the same period. For our owned fleet, our chartering policy is to employ our vessels primarily on short-term time charters. We will monitor developments in the dry bulk shipping market and, based on market conditions, we may employ our owned vessels with a mix of short-, medium- and