Costamare Purchases, Disposes of Vessels
Costamare Inc. (NYSE: CMRE)has reached agreements for the purchase and time charter of two secondhand vessels; time charter extensions for six existing vessels; and the disposal of two older vessels which the company agreed to sell for demolition. In addition, it finalized the financing arrangements for its Newbuilding Program. 1) the 6,724 TEU, 2003-built containership MSC Viviana (to be renamed MSC Messinia) for a purchase price of $60 million. 2) subject to final documentation, the 4,132 TEU, 2002-built MSC Ulsan for a purchase price of $30 million. The vessel is expected to be delivered within the first quarter of 2012 and immediately upon delivery it will commence a time charter with MSC for a duration of approximately 63 months, at a daily rate of $16,500.
Maersk Tokyo and Toba Order Admiral ECS
Costamare Shipping CO S.A., ordered four additional Admiral ECS for its Maersk Tokyo, Maersk Toba and 2 other vessels. This is the second time Costamare has purchased the Admiral system for its ships. In December 2006 the company ordered three for the MSC Sicily, MSC Tuscany and Sophia Britannia. Admiral ECS (Electronic Chart System) is installed in 140 vessels globally, ranging from 300,000 ton supertankers to 515 foot superyachts. More user friendly than most ECDIS installations, Admiral uses plain English menus rather than icons for its user interface. For this reason, some ECDIS equipped vessels also have an Admiral installed. The C-MAP vector chart database, using the Real Time Update Service (RTU), is updated automatically by the Admiral software.
