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09 April 2020 The on-line newspaper devoted to the world of transports 20:33 GMT+2

January 29, 2020

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Original news
Positive economic results of Costamare

The company has a fleet of 71 container carriers

Costamare, a company that has a fleet of 71 container carriers load capacity of 485 thousand teu, 2019 with revenues of US 478.1 million, in total growth of 25.7% on the previous year, with a profit operating income of US 173.1 million dollars, or 47.8%, and with a net profit 99.0 million dollars, or 47.2%.

In the fourth quarter of 2019 alone, the company revenues of US 124.5 million, an increase of 17.3% corresponding period of 2018. Operating profit 50.1 million dollars (up 39.4%) net profit at 35.9 MILLION dollars, or 81.9%.

"During the fourth quarter and year," he explained Costamare CEO Gregory Zikos - the profit earnings per share increased significantly, driven by a higher rates and the inclusion in the fleet of new ships. As part of our programme to revamp "We're going to have to do this," Zikos recalled, "during the quarter we acquired four Panamax ships of the average age of about 11 years (these are four containers with the capacity to 4,258 teu, ndr) and we have ceded an equal number of ships 27 years (three 2,023 teu and one from 1,645 teu, ndr). Over the course of the year, Zikos added, the largest ships have benefited from a growing rental market and today there is a limited supply of post-Panamax-sized ships. We -- he underlined -- we have 18 post-Panamax ships that will conclude their rental periods over the next 12 months, which we positions favourably in case the market trend continue."

Costamare's order book includes five other 12,690 teu container, three of which are delivered in the third quarter of this year and two in the second quarter of 2021, which were all rented by Yang Ming.

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