Skip to main content

Costamare: High profitability and $1 billion liquidity in H1

costamare.com

The company has extended its investments beyond containerships, including a fleet of 44 bulk carriers

Costamare has created a shipping group with assets valued, for the first half of 2023, at 5.3 billion euros. The company has extended its investments beyond containerships, including a fleet of 44 bulk carriers.

Of these, 3.24 billion dollars concern the fleet of 70 containerships, 724 million dollars the fleet of 44 bulk carriers, 508 million dollars in the trading platform for bulk carriers, while another 98 million concern Neptune Maritime Leasing.

Moreover, the company has a liquidity of 1 billion dollars, while the contracted revenues for the group’s containerships reach 2.9 billion dollars with an average duration of charter agreements of 3.9 years.

After the first quarter of 2023, Costamare chartered more than 50 bulk carriers for its own fleet.

In a period when both containership rates were on a downward trend and bulker rates were not so high, the company listed on the US stock showed revenues of 558.9 million dollars and profits of 216, 5 million dollars in the first half of the year.