CMRE News & Events

Reports Q1 voyager revenue $217.18M vs. $201.56M last year. "During the Q1 of the year, the Company generated Net Income of about $75 million. Total liquidity amounted to about $645M. Executing on our strategy of renewing the fleet and securing long-term cash flows from high quality counterparties, we have ordered a total of 16 newbuildings from two first-class Chinese shipyards. Twelve of the ships are 9,200 TEUs and four are 3,100 TEUs capacity. The vessels are expected to be delivered between the fourth quarter of 2027 and the second quarter of 2030. Upon delivery all ships will commence long-term charters with Cosco Shipping, with durations of 15 years for the twelve 9,200 TEU ships and 8 years for the four 3,100 TEU vessels. We are pleased to expand our valued and long-lasting relationship with Cosco through the completion of our latest 16 newbuilding transaction. Incremental contracted revenues from the new charters amount to about $2.8B."

Reports Q4 voyage revenue $202.7M vs. 217.7M last year. FY25 financial results reflect the spin-off of Costamare's dry bulk business into a standalone public company, which was completed on May 6, 2025. Accordingly, the results of the dry bulk business are presented as discontinued operations for all periods shown. "During the Q4 of the year, the Company generated Net Income of about $73M. Net Income for the whole year was about $370M with liquidity of $590M. Executing on our strategy of securing long-term cash flows from high-quality counterparties in a healthy market environment, we have forward-chartered 12 vessels, from 4,000 to 14,000 TEUs, all commencing over the next three years, with a TEU-weighted average duration of six years. Incremental contracted revenues from the new charters amount to approximately $940M. As a consequence, the fleet employment now stands at 96% and 92% for 2026 and 2027, respectively. Total contracted revenues have reached $3.4B, with a remaining time charter duration of 4.5 years. With an idle fleet of less than 1%, the charter market remains strong with continued high demand for tonnage and limited supply of ships available for charter due to the ongoing shortage of prompt ships. With respect to Neptune Maritime Leasing, in which we hold a controlling interest, 54 shipping assets have been funded or are on a commitment status basis, with total investments and commitments exceeding $665M."