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New York-listed Greek owner Costamare has reaffirmed its dry bulk fleet renewal and focus on larger tonnage in the sector.
The Konstantinos Konstantakopoulos-led company has revealed the sale of nine ships ranging between 32,400 dwt and 56,670 dwt and built between 2006 and 2012.
Five bulkers have already switched hands, resulting in net proceeds after debt prepayments of nearly $33m, while the disposal of the remaining four is expected to deliver proceeds of close to $26m.
Costamare entered the dry sector in 2021 and today owns 41 bulkers with a capacity of about 2.7m dwt, but it also has a 51-strong trading platform consisting of newcastlemaxes, capes and kamsarmaxes, in addition to a fleet of 68 containerships.
For the year 2023, Costamare reported a net profit of $354.7m and agreed to offload 12 bulkers in the supramax and handysize segments while adding a trio of capes and one ultramax.
The post Costamare continues clearout of smaller bulkers appeared first on Energy News Beat.
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