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Costamare confirms newbuiliding agreements

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The Greek container ship owner Costamare Inc. has confirmed the execution of shipbuilding contracts for two container ships and the exercise of options for six additional vessels.

Costamare has agreed with an Asian shipyard for two 13,000 TEU ships and exercised options under a legally binding agreement for two more container vessels of the same capacity, as well as four 15,000 TEU new buildings.

All of these eight new boxships will commence long term charters with a liner company upon their deliveries, with the acquisition expected to be financed with cash on hand and debt, according to a statement. The company has not disclosed the name of the charterer.

The newbuildings are estimated to be delivered between the third quarter of 2023 and the first quarter of 2024.

“We are pleased to expand our container ship fleet and time charter coverage with the addition of modern and high specifications tonnage supported by long term charters,” stated Gregory Zikos, Chief Financial Officer of Costamare.

The Athens-based company chartered in total 47 container vessels during 2021, adding contracted revenues of US$1.8 billion, according to Zikos, who noted that including the newbuilding contracts, total contracted revenues amount to US$4.8 billion.

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