Costamare Inc. reported a net income from continuing operations of approximately $99 million for the second quarter ended June 30, 2025. The financial results reflect the company's focused operations following the spin-off of its dry bulk business on May 6, 2025, with dry bulk results now presented as discontinued operations.
The company announced an order for four newbuild containerships, each with approximately 3,100 TEU capacity, from a Chinese shipyard. These vessels are expected to be delivered between the second and fourth quarters of 2027 and will commence an 8-year time charter with a leading liner company upon delivery. Additionally, Costamare chartered two 6,500 TEU containerships for a three-year period, starting in Q1 and Q2 2026.
These new transactions are expected to increase contracted revenues by over $310 million. The containership fleet employment remained robust at 100% for 2025 and 75% for 2026, with total contracted revenues reaching $2.5 billion over a remaining time charter duration of 3.2 years. Neptune Maritime Leasing continued its expansion, with 47 shipping assets funded or committed, and total investments and commitments exceeding $650 million.
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