Costamare Inc Dossier
Qualitative Analysis
Business overview
Costamare Inc. (NYSE: CMRE) is a leading international owner and provider of containerships and dry bulk vessels for charter. The company operates a high-quality fleet, chartering its containerships primarily under long-term, fixed-rate time charters to major liner companies, which provides highly visible and stable multi-year cash flows. In addition to its core containership business, Costamare has expanded its footprint in the dry bulk sector through direct vessel ownership and its dry bulk trading platform, Costamare Bulkers Inc. (CBI). As of early 2026, the company's fleet consists of 79 containerships and 38 dry bulk vessels.
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Costamare entered into shipbuilding contracts for 16 newbuild container vessels (twelve 9,200-TEU vessels and four 3,100-TEU vessels) backed by long-term charters with COSCO.
Expected impact: Expected to generate approximately $2.8 billion in incremental contracted revenue and extend the TEU-weighted fleet employment duration by 1.8 years.
Separating the dry bulk business into a standalone publicly traded company, Costamare Bulkers Holdings Limited (CMDB), to unlock inherent value and provide pure-play investment opportunities.
Expected impact: Improved financial flexibility, separate focused balance sheets, and tailored capital allocation strategies for both container and dry bulk segments.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of mid-sized secondhand container vessels to be immediately deployed on profitable 42-month time charters with a leading liner operator.
Financial impact: Will contribute to the contracted revenue backlog and expand active fleet capacity.
Strategic Partnerships
COSCO has agreed to charter all 16 of Costamare's newbuild container vessels under 15-year (for the 9,200-TEU ships) and 8-year (for the 3,100-TEU ships) time charters.
Terms: Expected to generate approximately $2.8 billion in contracted revenue backlog.
Costamare Bulkers agreed to transfer the majority of its volatile trading book (chartered-in vessels, cargo commitments, and derivatives) to Cargill to reduce risk and stabilize earnings.
Terms: Includes chartering four Supramax vessels to Cargill and entering a bunkering services agreement with Seascale Energy.