Costamare releases fourth quarter results for 2023

Profitability and liquidity

• FY 2023 Net Income available to common stockholders of US$354.7 million (US$2.95 per share).
• FY 2023 Adjusted Net Income available to common stockholders of US$249.0 million (US$2.07 per share).
• 4Q23 Net Income available to common stockholders of US$96.6 million (US$0.82 per share).
• 4Q23 Adjusted Net Income available to common stockholders1 of US$80.0 million (US$0.68 per share).
• 2023 Year-end liquidity of US$989.0 million.

Dry bulk operating platform

Costamare Bulkers Inc. has currently fixed a fleet of 51 dry bulk vessels on period charters, consisting of:

• 32 newcastlemax/capesize vessels.
• 19 kamsarmax vessels.

Majority of the fixed fleet is on index linked charter-in agreements, consisting of:

• 26 charters for newcastlemax/capesize vessels that are index linked.
• Nine charters for kamsarmax vessels that are index linked.

Average remaining tenor for the newcastlemax/capesize and kamsarmax chartered-in fleet of 13 and 6 months, respectively.

Lease financing platform

• Controlling interest in Neptune Maritime Leasing Ltd.
• Company’s current investment in Neptune Maritime Leasing Ltd of US$123.2 million.
• Growing leasing platform, having funded 23 shipping assets as of the date of this press release, for a total amount of approximately US$250 million, on the back of what we believe is a healthy pipeline.

Read the article online at: https://www.drybulkmagazine.com/shipping/08022024/costamare-releases-fourth-quarter-results-for-2023/