The board of directors of the Greek shipping company Costamare has officially approved the previously announced plan to separate its dry bulk shipping operations into a new, independent entity named Costamare Bulkers Holdings, reports Baird Maritime.
Spin-Off Execution
Costamare Inc. has announced its plan to spin off its dry bulk shipping business into a separate, publicly traded company called Costamare Bulkers Holdings.
To execute this spin-off, Costamare will distribute all of its Costamare Bulkers shares to existing holders of Costamare common shares on a pro rata basis.
According to the distribution plan, for every five (5) Costamare common shares held as of the close of business on April 29, 2025, which is the record date for the distribution, each Costamare shareholder will receive one (1) common share of Costamare Bulkers.
Following the spin-off, Costamare will continue its operations as a global container shipping provider, retaining its owned container vessels and the Neptune Maritime Leasing businesses.
Costamare Bulkers Holdings will operate as an international owner and operator of dry bulk vessels, encompassing the currently owned dry bulk fleet and the CBI operating platform. The Costamare board of directors believes that this proposed separation will unlock the intrinsic value within the two distinct businesses, as each entity possesses unique growth prospects and investment opportunities within their respective sectors.
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Source: Baird Maritime
