Costamare Inc.'s Board of Directors has officially approved the previously announced spin-off of its dry bulk business into Costamare Bulkers Holdings Limited. The transaction is expected to be completed on May 6, 2025, through a pro rata distribution to Costamare Inc. shareholders.
Upon completion, Costamare Bulkers Holdings Limited will operate as an international owner and operator of dry bulk vessels. Its owned fleet will comprise 38 vessels, including one vessel agreed to be sold, with a total carrying capacity of approximately 3,017,000 dwt.
Costamare Bulkers will also encompass the CBI dry bulk operating platform, which manages chartering activities and hedging solutions. The common stock of Costamare Bulkers is slated to trade on the New York Stock Exchange under the ticker symbol 'CMDB'.
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