Costamare Charters 14 Vessels in Q3

Costamare, owners and providers of containerships for charter, said that it has chartered in total 14 vessels over the quarter ended September 30, 2019.

According to Gregory Zikos, Chief Financial Officer of the Marshall Islands corporation, during the third quarter of the year the company delivered profitable results.

As was the case in the previous quarter, net income and earnings per share more than doubled, boosted by increased charter rates and the addition of new ships, he said.

Charter rates for the larger container ships continued to improve and there is limited supply available for the post -panamax sizes.

Among notable charters, Costamare agreed to charter the 2016-built, 11,010 TEU containership Cape Akritas with ZIM for a period of 10 to 11.5 months at charterers’ option, at a daily rate of $43,250. It has also chartered the 2017-built, 11,010 TEU containership Cape Kortia with ZIM for a period of 10 to 11.5 months at charterers’ option, at a daily rate of $43,250.

Meanwhile,  it has agreed to extend the charter of the 2003-built, 5,928 TEU containership Venetiko with Hapag Lloyd for a period starting from November 1, 2019 and expiring at charterers’ option during the period from August 20, 2020 to November 1, 2020, at a daily rate of $20,000.

Costamare extended the charter of the 2001-built, 5,576 TEU containership Ensenada with ONE for a period starting from October 1, 2019 and expiring at charterers’ option during the period from May 1, 2020 to June 30, 2020, at a daily rate of $21,000.

Among the vessels below 5,500 TEU capacity that signed for charter are ZIM New York, ZIM Shanghai, Ulsan, Lakonia, Areopolis, Messini, MSC Namibia II, Neapolis, Prosper and Michigan.

The company has 18 post -panamax ships coming off charter over the next year.