Document:

Exhibit 10.10

 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN
REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE 

TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH
THE 

SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE 

PLACE WITH FIVE ASTERISKS (*****).

 

ADDENDUM No. 1

 

To the Charter Party dated 16.01.2004

 

for HHI Hull No 1653

 

It has been mutually agreed between :

 

Messrs Capetanissa Maritime Corporation, of Liberia, as Owners

 

guaranteed by Costamare Shipping Company S.A.

 

and

 

Messrs Cosco Container Lines Ltd, of Shanghai, as Charterers

 

that :

 

the above Charter Party is being amended as follows:

 

	-	Line 28 insertion to read: “12 years
    +/- ***** days in Charterers’ option.”
	-	Line 97 insertion to read: “US$ 36,400 net per
    day prorata including overtime”.
	-	Clause 60: Vessel’s TIC description to be replaced
    by the updated T/C description as attached.
	-	Clause 66 3rd line: “*****” is
    replaced by “*****”.

 

All other terms, conditions and exceptions of the above Charter
Party remain in force unaltered.

 

	The Owners	 	The Charterers
	 	 	 
	/s/ Vassillos C. Constantakopoulos	 	/s/
	Vassillos C. Constantakopoulos 

President	 	 

 

27th December, 2004.

    	 

    	 

    

Preliminary Description

( HHI Hull No 1653 )

 

9.500 teu Class! Gearless Cellular Container ship

 

	OWNERS/	Messrs Capetanissa
    Maritime Corporation, of Liberia, as Owners of HHI Hull No 1653
	 	 
	MANAGERS	guaranteed by Costamare Shipping
    Company S.A. 

60 Zephyrou str & Syngrou ave. 

175 64 Athens ‒ Greece

Phone: +30 210 9490000    Fax:+30 210 9409051/52 

Telex 220601/220602 mare gr 

E-Mail: info@costamare.com
	BUILT	2006
	SHIPYARD	Hyundai Heavy Industries Co.,
    Ltd.
	FLAG	Greek
	REGISTRY	Piraeus
	CLASS	G.L/ X 100A5,
    “Container     ship”, IW, SOLAS II-2 Reg. 19, X MC, AUT, GP,
    RCP
	ENG./BRIDGE	Semi-aft

 

10 Holds / 20 Hatches plus 1 Aftermost Deck Bay/ 59 panels with
max. weight 41 m/t. excluding loose lashing materials.

 

	Hatch No	Opening	Panels
	No 1 (F)	12.64x 17.90m	2
	No 1 (A)	12.64 x 27.94 m	3
	No 2 (F)	12.64 x 33.48 m	3
	No 2(A) ‒ 10(A)	12.64 x 38.34 m	3 each

 

The panels are not interchangeable and can be operated in a
non-sequential order.

 

MAIN PARTICULARS

 

	L.O.A	 	350.00	 	m
	L.B.P	 	333,44	 	m
	Breadth	(moulded)	42.80	 	m
	Depth	(moulded)	27.30	 	m
	Scantling draught	(moulded)	14.50	 	m
	Designed draught	(moulded)	13.00	 	m
	Air Draught	 	61.2	 	m
	Deadweight @
    Design Draught	 	88.400	 	mt
	Deadweight @
    Scantling Draught	 	107.200	 	mt
	Lightship weight	 	37.200	 	mt
	Gross Tonnage	 	109.000	 	 
	 	 	 	 	 	 

	Tank Capacities	Volume
    (m3)
	Fuel Oil	10.800
	Diesel Oil	500
	Ballast Water	28.000
	Fresh Water	250

    	 

    	 

    

Max Containers intake: 9.449 teu (basis
8 tiers on deck of ISO standard containers 20’/40’ x 8’ x 8’6”)

 

	Alternative
    (a)	Maximum number
    of 20’ containers are preferentially loaded and 40’ containers are loaded in the remaining space
	Stowage	7.743 x 20’ x 8’
    6” plus 853 x 40’ x 8’ 6”
	Holds	3.211 x 20’ x 8’
    6” plus 721 x 40’ x 8’ 6”
	Deck	4.532 x 20’ x 8’
    6” plus 132 x 40’ x 8’ 6”

 

	Alternative
    (b)	Maximum number
    of 40’ containers are preferentially loaded and 20’ containers are loaded in the remaining space
	Stowage	63 x 20’ x 8’ 6”
    plus 4.677 x 40’ x 8’ 6”
	Holds	55 x 20’ x 8’ 6”
    plus 2.299 x 40’ x 8’ 6”
	Deck	8 x 20’ x 8’ 6”
    plus 2.378 x 40’ x 8’ 6”

 

	 	Note:	Capacity of Alternative
    (b) can be increased by up to 32teu provided deck Bays No 19 and 47 are fully loaded with 20’ units.

 

45’ Containers intake (On deck only, basis 7 container
tiers on deck).

 

	Bays 66-74-82	From the 1st
    tier and above.	349
    units
	Bays 2 to 62, 70,78	From the 3rd tier
    and above.	1.151 units
	 	T o t
    a l	1.500
    units

 

UNDER DECK CLEARANCES.

In case cargo holds are fully loaded, two
(2) high cube containers (40’ X 8’ X 9’ 6”) can be included per stack in any tier.

 

9’6” High cube containers
intake (basis 7 tiers on deck and 10 tiers maximum containers loading in cargo holds).

 

	In holds	570
    feu
	On deck	1.694 feu
	T o t
    a l 	2.264
    feu

 

9’6”
High cube containers maximum intake (sacrificing top tier, when required).

 

	In holds	2.007
    feu
	On deck	2.079 feu
	T o t
    a l 	4.086
    feu

 

Calculations with regard to containers
intake are subject to compliance with the provisions of “Cargo Securing Manual”, visibility restrictions from the
Bridge, stress and stability limitations.

 

Fittings

 

Holds

Fully cellularized in holds for loading
20’/40’ containers. 2x20’ can be loaded from the first tier in all cargo holds. 40’ cells in all cargo
holds capable for loading either 1x40’ or, 2x20’ units up to 7 tier high capped with 40’ units thereafter.

Fully flexible stowage cell guide system.

The cell guides and the hull structure
in all cargo holds are constructed for random stowage of 8’6” or 9’6” containers in any sequence.

    	 

    	 

    

Deck.

 

Fully fitted for loading 20’ or 40’
containers. In addition Bays No 66 and 74 are designed for 20140’ and 45’ containers from the first tier and the aftermost
Bay No 82 exclusively for 40’/45’ containers. Fully fitted with restraint devices including full set of 0.S.H.A approved
loose fittings and lashings.

 

Stackweights.

 

On Deck

 

	20’	90
    mt/ stack
	40’	140 mt/
    stack

 

In Holds

 

	20’	30    mt/
    unit
	40’	30,5 mt/ unit

 

Stackweights are given for structural strengthening
aspects and actual tier weight distribution shall be in compliance with the lashing forces calculation results.

 

Reefer Plugs ( “RCP” Class notation )

 

	On Deck	500	30
    plugs each, Bay 18 through Bay 78 plus 20 plugs on Bay 14.
	 	 	 
	In Holds	200	68 plugs
    each, Bay 42 and Bay 50 plus 64 plugs in Bay 58.
	 	 	 
	Total	700	Reefer
    plugs A.0 440V, 60 Hz, 32A CEE 17-3h type, supplied by a “Ringnet system” with eight (8) ringnet SWBDs, designed
    for high power redundancy.

 

Electrical installations, ventilation arrangements,
remote monitoring system, accessibility for monitoring and repairs, shall fully comply with the requirements of “Class”
in respect of the assignment of “RCP” Class Notation.

 

Machinery

 

	Main Engine	One (1) set Hyundai
    MAN B&W 12K98MC
	(8,9% up-rated version)	 
	MCR	101.640 BHP at 97 rpm
	NCR	  91.510 BHP at 93.7
    rpm

 

	Diesel Engines	Two	(2) Sets x abt
    3.000 kW each
	 	Three	(3) Sets x abt 2.300 kW each
	Generators	Two	(2) sets x 2.800 kW plus three
    (3) sets x 2.200 kW.
	 	 	 

	Emergency Generator	One (1) set Emergency
    diesel generator 500 kW.

 

Fuel Specifications

 

	Main Engine and
    Auxiliary Engines	HFO RMK 55 - Max
    700 cSt at 500 C

 

The bunkers to be delivered must meet ISO
8217: 1996 International Standard and any subsequent revision thereof and must not contain waste lubricating oil, chemical waste,
or any other substances which are not inherent to bunkers.

    	 

    	 

    

Speed/ Consumption

Speed and consumption as per Shipbuilding contract.

 

Service speed at the design draught and
M/E NCR to be ***** knots with ***** sea margin at the condition of clean bottom, in deep and currentless water, under good weather
condition with max.Bf scale 3-sea state 2.

Daily fuel oil consumption at the M/E NCR
to be about ***** mt plus ***** for IMO NOx emission compliance, basis MDO of 10.200 kcal/kg in lower calorific value at shop
test under ISO reference condition.

 

The consumption for lower speeds, at design
draught and even keel, with clean bottom under good weather condition i.e Bf scale 3-sea state 2, in deep and currentless water,
to be determined within six (6) months after vessel’s delivery.

 

Endurance *****n.m

 

Auxiliary Engines Consumption

About ***** g/kWh + ***** at 85% MCR based
on MDO of 10.200 kcal/kg in lower calorific value at shop test under ISO reference condition.

 

Sludge removal if any to be for Owners’ account.

 

STABILITY

Homogeneous loading with 45% containers
VCG, at scantling draught, basis full consumables, satisfying IMO stability criterion.

 

	•	8.180 teu of   9
    mt each	(holds 4.653 +
    deck 3.527 teu)
	•	8.010 teu of 10 mt each	(holds 4.653 + deck 3.357 teu)
	•	7.710 teu of 11 mt each	(holds 4.653 + deck 3.057 teu)
	•	7.340 teu of 12 nit each	(holds 4.653 + deck 2.687 teu)
	•	6.680 teu of 14 mt each	(holds 4.653 + deck 2.027 teu)
	•	5.900 teu of 16 mt each	(holds 4.653 + deck 1.247 teu)
	•	5.240 teu of 18 mt each	(holds 4.653 + deck    587
    teu)
	•	4.720 teu of 20 mt each	(holds 4.653 + deck      67
    teu)

 

VENTILATION IN CARGO HOLDS

 

	Hold
    No.	Supply	Exhaust	 
	Hold No 1,2,3,4,5,9 & 10	 	2 air changes/hour	 
	Hold No 6,7 & 8	75 m3/min per 40’
    

reefer container	 	 

 

LOADING OF DANGEROUS GOODS (D.O.0 provisions)

 

	Compartment	D.G Classes
    permitted.
	Cargo holds 1,3,4,5, 9 &
    10	Class 1.4S/ 2 /3 /4 /5.1 /6.1
    /8 / 9 except hydrogen and mixtures, acetylene, ethyl-nitrite/nitrate, carbon disulphide.
	Cargo hold 2	Class 1/ 2 /3 /4 /5.1 /6.1
    /8 / 9 except hydrogen and mixtures, acetylene, ethyl-nitrite/nitrate, carbon disulphide
	Cargo holds 6,7,8	Class 1.4S/ 2.2/ 3.3/ 4/ 5.1/
    6.1A/ 8A,D
	Weather Deck	Class 1 to 5.1/ 6.1/ 8

 

Simultaneous loading of Dangerous Goods and Reefer Containers
in Cargo Holds No 6,7,8 not to be considered.

    	 

    	 

    

SUNDRY

 

	•	Water Ballast Management,
    “Flow Through method” (“Green Passport” Class notation)
	•	Vessel to comply with, I.S.M,
    I.S.O and I.S.P.S code requirements.
	•	Hydraulic “Side Pilot
    Doors” for easy access.
	•	All around “Universal
    Fairleads”
	•	Bow thruster 2.500 kW.
	•	CO2 fire fighting system for
    Cargo Holds, Engine Room.
	•	Sewage treatment plant.
	•	Four (4) Anti-heeling tanks.
	•	Auto anti-heeling pump, capacity
    1.000 cbm/hour
	•	Evaporator productivity abt.
    40 mt/day.
	•	Suez Canal/Australia fitted
	•	Vessel is equipped with all
    modern Satcom and Navigation aids, including “Integrated Navigation System”.
	•	Modem Loadmaster computer with
    enhanced futures.

 

“All details “about”
and to be confirmed after vessel’s delivery”Exhibit 10.11

Addendum No. 2

to a Time Charter Party dated 16th January 2004

for m.v. “Cosco Beijing”

 

This Addendum
is made on 25th of June, 2008 between:

 

		(1)	Capetanissa Maritime Corporation of
                                         80, Broad Street, Monrovia, Liberia (hereinafter: the “OWNERS”);

 

		(2)	Costamare Shipping Company S.A., of
                                         Panama (hereinafter: the “OWNERS GUARANTOR”);

 

		(3)	Costamare Inc., of Trust Company Complex,
                                         Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (hereinafter: the “NEW
                                         OWNERS GUARANTOR”); and

 

		(4)	Cosco Container Lines Co., Ltd. of No.
                                         378 Dong Da Ming Road, (hereinafter: the “CHARTERERS”).

 

WHEREAS

 

		(A)	The OWNERS have chartered the container
                                         vessel “COSCO BEIJING” (hereinafter: the “VESSEL”) to
                                         the CHARTERERS pursuant to the time charterparty dated 16th January 2004 (as amended
                                         and supplemented from time to time hereinafter: the “CHARTER”);

 

		(B)	the OWNERS’ performance under the CHARTER has been guaranteed by the OWNERS GUARANTOR pursuant
to the relevant terms of the CHARTER (hereinafter: the “OWNERS CHARTER GUARANTEE”);

 

		(C)	It is desired that as from 15/10/2008, the OWNERS GUARANTOR shall be released and discharged from
its obligations under the OWNERS CHARTER GUARANTEE and that NEW OWNERS GUARANTOR is substituted in the position of guarantor of
the OWNERS’ performance under the CHARTER in respect of the period as from the commencement of the CHARTER i.e. as from delivery;

 

		(D)	The Owners wish that as from 15/10/2008, hire payment details stipulated in Clause 5 of the CHARTER
are amended so that hire is to be paid to the OWNERS bank account; and

 

		(E)	this deed sets out the terms pursuant to which the parties hereto have agreed to the various amendments
to the CHARTER required because of the events described above.

 

NOW It is hereby
mutually agreed that as from 15/10/2008:

    	 

    		- 2 -	 

    

		1.	The CHARTERERS release and discharge the OWNERS GUARANTOR from all liabilities, obligations, claims and demands whatsoever
concerning the OWNERS CHARTER GUARANTEE and in respect of anything done or omitted to be done under or in connection therewith;

 

		2.	NEW OWNERS GUARANTOR is substituted in the position of guarantor of the OWNERS’ performance under the CHARTER in respect of
the period as from the commencement of the CHARTER i.e. as from delivery; and

 

		3.	The hire payment details stipulated in Clause 5 of the CHARTER are amended, so that hire is to be paid to the OWNERS bank account
as follows:

 

	Bank Name:	Calyon
	 	 
	Bank Address :	9, quai du President Paul Doumer, Paris, France
	 	 
	Account Name:	CAPETANISSA MARITIME CORPORATION
	 	 
	IBAN:	FR7631489000100024114723847

 

		4.	Subject to the foregoing, the terms of the CHARTER will remain unamended and in full force and effect.

 

	/s/ Vasileios C. Konstantakopoulos	 
	By: Vasileios C. Konstantakopoulos	 
	on behalf of: Capetanissa Maritime Corporation

 

	/s/ Vasileios C. Konstantakopoulos	 
	By: Vasileios C. Konstantakopoulos	 
	on behalf of: Costamare Shipping Company S.A.

    	 

    		- 3 -	 

    

	/s/ Konstantinos V. Konstantakopoulos	 
	By: Konstantinos V. Konstantakopoulos
	on behalf of: Costamare Inc.

 

	/s/	 
	By:	 
	on behalf of: Cosco Container Lines Co., Ltd.

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