Costamare Adds Three Vessels
Costamare accepted delivery of three second hand vessels during the last quarter ended June 30, 2017, said Gregory Zikos, Chief Financial Officer of Costamare.
In a press statement he said that the vessels have been chartered for periods ranging from 5 to 7 years. "During the quarter we entered into debt financing agreements for two of them and we are into discussions regarding the debt finance of the third ship. As of today all of our new building program is fully funded with remaining equity commitments amounting to only US $ 2 million, due in 2018," he added.
On May 15, 2017 and May 18, 2017, it accepted delivery of the 2014-built 4,957 TEU containerships, Kyparissia and Leonidio, respectively. Both vessels are chartered to Maersk Line through Q4 2024.
On May 16, 2017, it accepted delivery of the 2005-built 7,471 TEU containership, Maersk Kowloon. On June 12, 2017, the vessel commenced its 5-year charter with Maersk Line.
On May 31, 2017, it accepted delivery of the 11,010 TEU containership Cape Artemisio, from the shipyard, which was acquired pursuant to our joint venture with York. The vessel commenced its charter in June 2017. Costamare holds a 49% interest in the entity that owns the vessel.
"On the chartering side, we have no ships laid up. We continue to charter our vessels, having chartered in total 6 ships since the last quarter," Gregory concluded.
Costamare reported voyage revenues adjusted on a cash basis of $102.2 million and $204.9 million for the three and six-months ended June 30, 2017, respectively.
Adjusted Net Income available to common stockholders of $20.6 million or $0.21 per share and $41.3 million or $0.44 per share for the three and six-months ended June 30, 2017, respectively.
