In March 2023, it agreed with Neptune and its shareholders to invest in the platform up to 200 million dollars for up to 40% of common shares and up to 79.05% of preferred shares.
At that time, Neptune owned one container ship and three bulk carriers under sale and leaseback agreements.
One year later, the platform had 24 vessels in respective agreements: 16 bulkers, four tankers, one containership and three offshore supply vessels, as revealed by Costamare in the annual report it published for 2023.
Neptune was founded in 2021 by Haris Antoniou, who is very experienced in maritime finance, offering flexible solutions to shipowners. Its strategy is to build a portfolio of long-term contracts related to sale and leaseback transactions in shipping.
As of March 19, 2024, Costamare has invested 123.3 million US dollars in the platform, controlling 36.6% of the common shares and 73.2% of the preferred shares.
Latsco Family Office also participates in Neptune as an investor.
A dynamic start
The first quarter of the new year was rather dynamic for Neptune Maritime Leasing.
In February, it acquired a bulk carrier and leased it back to the seller on a bareboat charter for a period of five years.
The seller has the obligation to buy the ship at the end of the period and the right to buy it before the end of the period at a pre-agreed price.
NML acquired another bulk carrier in February, at a lower price, but with the same duration and similar terms.
During the first quarter the company, it signed letters of commitment, subject to final approval, with shipowners to acquire two vessels in sale and bareboat agreements, under which the vessels will be re-chartered to the sellers for an amount of up to 32.5 million US dollars.
In addition, during the period under review, 11 subsidiaries of Neptune Maritime Leasing entered into seven loan agreements to finance 11 sale and leaseback agreements that they are implementing.
