Costamare Bulkers announces strategic cooperation agreement with Cargill International SA

Under the agreement, Costamare Bulkers has agreed to:

• Transfer to Cargill the majority of its trading book comprising of chartered-in vessels, cargo transportation commitments as well as derivative positions.
• Charter to Cargill four Supramax vessels for a period of four to six months.
• Enter into a bunkering services agreement with Seascale Energy (a joint venture between Cargill and Hafnia), covering the owned and operating fleet.
• Enter into an agreement in respect of decarbonisation and vessel efficiency strategies and implementing decarbonisation projects.
• Explore opportunities to jointly invest in dry bulk assets and other dry-bulk business ventures, as well as other potential business opportunities in the dry bulk sector.

Mr. Gregory Zikos, Chief Executive Officer of Costamare Bulkers Holdings Limited, commented:

“We are pleased to announce the Agreement with Cargill, a first class and well-respected partner in the dry bulk sector and we look forward to pursuing further cooperation and co-investment opportunities.

The Agreement allows us to reduce our exposure in the volatile trading business and generate more stable and predictable earnings, while at the same time maintaining our operating platform under CBI as an integral part of our business model.”

Mr. Jan Dieleman, President, Cargill Ocean Transportation, commented:

“This partnership allows Cargill to better serve its customers as it continues to help us grow our current fleet. We look forward to building a strategic partnership with Costamare and continue to grow together.”

Read the article online at: https://www.drybulkmagazine.com/shipping/30092025/costamare-bulkers-announces-strategic-cooperation-agreement-with-cargill-international-sa/