As announced by the Konstantakopoulos family’s US-listed company, the new business was created by a team of experienced professionals and will charter dry bulk vessels, enter into charter contracts and use hedging solutions, including fuel futures and hedging.
Read also: Greece holds the “helm” of the global fleet – China and Japan follow
Costamare has committed up to $200 million to the new venture
The business will operate globally through offices in Athens and Monaco and agencies in Copenhagen, Hamburg and Singapore. Work is expected to begin in the fourth quarter of 2022. The new venture, for which Costamare has committed up to $200 million, is expected to use minimal financial leverage. The new venture is based on the same ethical values and business principles that Costamare has followed for the last decades, and such values and principles are also shared by our partners. Considering the increased asset value levels in the container sector and the company’s counter-cyclical investment approach, Costamare believes that the new venture provides an attractive risk-return profile for its invested capitals.
Costamare, managed by Kostis Konstantakopoulos, controls a fleet of 73 container ships with a total capacity of approximately 537,000 TEU (including two vessels it has agreed to sell) and 45 dry bulk vessels with a total capacity of approximately 2,436,000 DWT.
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