NYSE-listed Costamare Inc insists on its original decision to spin off its dry bulk business, Costamare Bulkers Holdings Ltd, into a separate company.
During the online “Investor Day,” hosted by the new Costamare Bulkers management team, a keynote address was given on the new company’s priorities, investment highlights and strategic outlook.
Based on the statements made by the company’s executives, it was emphasized that there is no reason to cancel the spin-off plan due to the current market turmoil.
“It is a strategic decision and not a short-term plan. We believe it is the right decision to move forward,” said Costamare’s CFO and CEO of Costamare Bulkers, Gregory Zikos.
Costamare Bulkers will be the new home of Costamare’s 38 privately owned dry bulk carriers, as well as another 48 vessels currently chartered through the company’s CBI (charter in) platform.
Accordingly, Costamare Inc is expected to maintain 68 container ships in its fleet, as well as the Neptune Maritime Leasing platform.
