Costamare And York Capital to Jointly Acquire Two Containers



Costamare Inc. is a leading owner and provider of containerships for charter with 41 years of history in the international shipping industry and a fleet of 73 containerships, with a total capacity of approximately 470,000 TEU, including 12 newbuild containerships on order and one second-hand vessel to be delivered.  The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C” and “CMRE PR D”, respectively.

Costamare Inc. and its partner York Capital have ordered from Jiangsu New Yangzi Shipbuilding Co., Ltd. two newbuild container-ships, each of approximately 3,800 TEU capacity.  The two ships will be delivered in the first and second quarter of 2018 respectively and will commence a seven-year time charter to members of Hamburg Süd Group.  The cash from operations and debt from a leading Asian financial institution funds the acquisition.

The shareholders of both the companies are expected to benefit by the completion of the latest transaction that marks a major milestone with Hamburg Süd.

Source: Costamare