Costamare Inc.
CMRE-PD
New York Stock Exchange28.28
USD
-0.01
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Costamare Inc.
CMRE-PD
(New York Stock Exchange)
Recent
price
28.28
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Costamare Inc. is a leading global owner and provider of containerships and dry bulk vessels for charter, operating primarily under long-term time charter agreements with major liner companies. The company’s core products and services include owning and chartering containerships with diverse fleet sizes and vessel specifications to liner companies such as Maersk and MSC; managing a fleet of dry bulk vessels that provide worldwide transportation of dry bulk cargoes; and offering in-house vessel management services encompassing technical management, crewing, insurance, and regulatory compliance. Costamare's fleet as of early 2025 consists of approximately 68 containerships with a total capacity near 326,000 TEU and 38 dry bulk vessels. The company focuses on securing long-term fixed-rate charters to ensure stable and predictable revenue streams alongside operational excellence in fleet management. Founded in 1974 and headquartered in Monaco, Costamare has strategically diversified its shipping portfolio in recent years by expanding its dry bulk fleet, acquiring several new Capesize and Ultramax vessels in 2024 while disposing of older vessels to upscale and renew its fleet. It also maintains a growing leasing platform through its controlling interest in Neptune Maritime Leasing Limited, currently funding or committed to 37 shipping assets with a total investment above $500 million. In 2024, Costamare achieved significant financial milestones including a net income of $290.7 million and contracted containership revenues approximating $2.4 billion with TEU-weighted average charter durations of around 3.4 years, demonstrating strong operational performance and liquidity exceeding $940 million. The company completed refinancing of debt on 36 dry bulk vessels and prepaid €100 million of unsecured bonds from its wholly owned subsidiary to strengthen its balance sheet. Additionally, Costamare secured forward fixed charters for 96% of its containership fleet in 2025 and 69% for 2026, reflecting robust market demand and commercial execution. Costamare operates mainly in the international shipping industry serving global trade markets by providing maritime transportation services designed to facilitate the efficient movement of containerized and bulk cargoes worldwide. The company conducts its operations through wholly owned and controlled subsidiaries and maintains a commitment to safe, reliable, and efficient ship management delivered by its dedicated ship management subsidiary, Costamare Shipping Company S.A. Costamare’s recent strategic focus includes renewing its owned fleet, expanding its dry bulk sector presence for diversification, growing its leasing platform, and maintaining sound financial health to secure long-term shareholder value and operational flexibility in a fluctuating market environment. This comprehensive profile reflects Costamare’s position as an established player with a 50+ year history in shipping, a diversified fleet portfolio, ongoing fleet modernization, robust charter contracts, and sustained financial strength based in Monaco and serving global maritime trade.