New York-listed Costamare is continuing its growth strategy of fleet modernization and expansion by exercising options for more containership newbuildings with a Chinese shipyard.
In September, following up from the previously announced order of four 3,100-teu capacity containership newbuildings, the company exercised the option for two more sister ships, to be delivered in the first quarter of 2028.
Specifically, the company concluded of another two newbuilding contracts with a Chinese shipyard, bringing the total number of 3,100-teu newbuilding orders to six.
Upon delivery, each vessel will also commence an 8-year time charter with a “first class” liner company, as the company explains.
The shipowner has a fleet of 69 containerships in the water, with a total capacity of approximately 520,000 teu. It also has six newbuild containerships under construction with a total capacity of 18,600 teu.
In the sale and purchase sector, the company also remained active with the delivery of the 2006-built, 6,541-teu containership Maersk Puelo, which commenced a time charter with Maersk.
Meanwhile, the company’s fleet employment stands at 100% and 80% for 2025 and 2026, respectively. The total contracted revenues for the containership fleet amount to $2.6bn with a remaining time charter duration of 3.2 years.
Gregory Zikos, chief financial officer of Costamare, commented about the market: “Regarding the market, the positive outcome from the latest trade discussions between US and China and the delay in the implementation of port fees should positively contribute to global increased trade flows.
“With idle fleet of less than 1% the charter market remains strong with rates fixed at healthy and stable levels on the back of vessel shortage and steady demand.”
