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Costamare Inc   (CMRE)
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Price: $11.1700 $-0.01 -0.089%
Day's High: $11.29 Week Perf: -0.53 %
Day's Low: $ 11.10 30 Day Perf: 0.36 %
Volume (M): 437 52 Wk High: $ 11.85
Volume (M$): $ 4,880 52 Wk Avg: $9.86
Open: $11.15 52 Wk Low: $7.71



 Market Capitalization (Millions $) 1,374
 Shares Outstanding (Millions) 123
 Employees 6
 Revenues (TTM) (Millions $) 1,114
 Net Income (TTM) (Millions $) 555
 Cash Flow (TTM) (Millions $) 458
 Capital Exp. (TTM) (Millions $) 0

Costamare Inc

Costamare Inc. was incorporated in the Republic of The Marshall Islands on April 21, 2008 under the Marshall Islands Business Corporations Act, for the purpose of completing a reorganization of 53 ship-owning companies then owned by our chief executive officer and other members of the Konstantakopoulos family under a single corporate holding company. We are controlled by members of the Konstantakopoulos family, which has a long history of operating and investing in the international shipping industry, including a long history of vessel ownership. Captain Vasileios Konstantakopoulos, the father of our chairman and chief executive officer, Konstantinos Konstantakopoulos, founded Costamare Shipping in 1974. We initially owned and operated drybulk carrier vessels, but in 1984 we became the first Greek-owned company to enter the containership market and, since 1992, we have focused exclusively on containerships. After assuming management of our company in 1998, Konstantinos Konstantakopoulos has concentrated on building a large, modern and reliable containership fleet run and supported by highly skilled, experienced and loyal personnel. He founded the management company Shanghai Costamare in 2005, and he founded the manning agency C-Man Maritime Inc. (“C-Man Maritime”) in 2006. Under Konstantinos Konstantakopoulos’s leadership, we have continued to foster a company culture focusing on excellent customer service, industry leadership and innovation.

We are an international owner of containerships, chartering our vessels to many of the world’s largest liner companies. We had a fleet of 68 containerships with a total capacity in excess of 447,000 TEU, including nine newbuilds on order, making us one of the largest public containership companies in the world, based on total TEU capacity. At that date, our fleet consisted of (i) 59 vessels in the water, aggregating approximately 331,000 TEU and (ii) nine newbuild vessels aggregating approximately 116,000 TEU that are scheduled to be delivered to us through the third quarter of 2016, based on the current shipyard schedule. 13 of our containerships, including nine newbuilds, had been acquired pursuant to the Framework Agreement with York by vessel-owning joint venture entities in which we hold a minority equity interest. See “—Our Fleet, Acquisitions and Newbuild Vessels”.
Our strategy is to time-charter our containerships to a geographically diverse, financially strong and loyal group of leading liner companies. Our containerships operate primarily under long-term, fixed-rate time charters and therefore are not subject to the effect of seasonal variations in demand. Our containerships have a record of low unscheduled off-hire days, with fleet utilization levels, excluding scheduled dry dockings. Over the last three years our largest customers by revenue were A.P. Moller-Maersk, MSC, Evergreen, Hapag- Lloyd and COSCO. The average (weighted by TEU capacity) remaining time-charter duration for our fleet of 68 containerships was approximately 4.5 years, based on the remaining fixed terms and assuming the exercise of any owner’s options and the non-exercise of any charterer’s options under our containerships’ charters.


Our vessels are managed by our “affiliated managers” which are controlled by our chairman and chief executive officer, Costamare Shipping and Shanghai Costamare (which acts as a sub-manager), except in certain cases where, subject to our consent, a third party has been contracted to provide sub- management services. As described below, in April 2013, the Cell under V.Ships Greece replaced CIEL, another entity controlled by our chairman and chief executive officer, as the sub-manager of certain of our vessels. Costamare Shipping is the head manager of our vessels, while the Cell is the exclusive third-party sub-manager of Costamare Shipping (except for a limited number of vessels that may be managed by other third-party sub-managers). We believe that having several management companies, both affiliate and third party, provides us with a deep pool of operational management in multiple locations with market-specific experience and relationships, as well as the geographic flexibility needed to manage and crew our large and diverse fleet so as to provide a high level of service, while remaining cost-effective.

Costamare Shipping provides us with general administrative services, certain commercial services, director and officer (“D&O”) related insurance services and the services of our executive officers pursuant to the Group Management Agreement between Costamare Shipping and us. Costamare Shipping, itself or through Shanghai Costamare, and, in certain cases, subject to our consent, a third-party sub-manager, currently provides our fleet with technical, crewing, commercial, provisioning, bunkering, sale and purchase, chartering, accounting, insurance and administrative services pursuant to the Group Management Agreement and separate ship-management agreements between each of our containership-owning subsidiaries and Costamare Shipping. As described below, the Cell under V.Ships Greece replaced CIEL as sub-manager of certain of our vessels in 2013 and is the exclusive third-party sub- manager of Costamare Shipping (except for a limited number of vessels that may be managed by other third-party sub-managers). In return for these services, we pay the management fees described below in this section and elsewhere in this annual report. Our affiliated managers, Costamare Shipping and Shanghai Costamare, control the selection and employment of seafarers for our containerships, directly through their crewing offices in Athens, Greece and Shanghai, China, and indirectly through our related crewing agent in the Philippines, C-Man Maritime, and independent manning agents in Romania and Bulgaria. The seafarers for our containerships managed by V.Ships Greece are arranged in part through C-Man Maritime and in part through V.Ships Greece (which utilizes the global V.Group network) under the Co-operation Agreement. Under the Group Management Agreement, Costamare Shipping is the head manager of our containerships and may subcontract certain of its obligations to a related sub-manager (such as Shanghai Costamare) or, subject to our consent, to a third-party (such as V.Ships Greece), or direct that such related or third-party sub-manager enter into a direct ship-management contract with the relevant containership-owning subsidiary. As discussed below, these arrangements will not result in any increase in the aggregate amount of management fees we pay. We believe that having multiple management companies provides us with a deep pool of operational management in multiple locations with market-specific experience and relationships, as well as the geographic flexibility needed to manage and crew our large and diverse fleet so as to provide a high level of service, while remaining cost-effective. For example, Shanghai Costamare employs Chinese nationals with the language skills and local knowledge we believe are necessary to grow and establish meaningful relationships with Chinese shipyards, charterers, ship-owners, financial institutions and containership service providers. The Cell under V.Ships Greece provides added operational flexibility and economies of scale while maintaining a high level of management services.


Costamare Shipping and Shanghai Costamare are controlled by our chairman and chief executive officer. Our chairman and chief executive officer and our chief financial officer supervise, in conjunction with our board of directors, the services provided by our managers. Costamare Shipping reports to our board of directors through our chairman and chief executive officer and our chief financial officer, each of whom is appointed by our board of directors. Under the Group Management Agreement, our executive officers are provided to us by Costamare Shipping and their compensation is set and paid by Costamare Shipping. We could request that Costamare Shipping provide the services of additional officers or employees pursuant to the Group Management Agreement, in which case the management fee payable to Costamare Shipping under the Group Management Agreement may be increased.



   Company Address: 7 Rue du Gabian MC 98000
   Company Phone Number: 93 25 09 40   Stock Exchange / Ticker: NYSE CMRE
   CMRE is expected to report next financial results on April 02, 2024.


Customers Net Income fell by CMRE's Customers Net Profit Margin fell to

-18.38 %

8.17 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
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GSL        0.55% 
SFL   -4.83%    
TNP        2.1% 
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Dividend

Costamare Inc. Announces Quarterly Dividend for Preferred Stockholders, Demonstrating Stability and Commitment to Shareholders.

Published Mon, Oct 2 2023 12:07 PM UTC

Costamare Inc. Declares Quarterly Dividend on Its Preferred and Common Stock
MONACO, Oct. 02, 2023 - Costamare Inc., a leading provider of container ships for charter, announced today that it has declared cash dividends for its preferred stockholders. The company will pay dividends of US $0.476563 per share on its 7.625% Series B Cumulative Redeemable Perpetual Preferred...






 

Costamare Inc's Segments
 
 
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