Costamare forms new dry bulk operating platform

Following its strategic decision to enter the dry bulk sector at an opportune time in the cycle, Costamare as proceeded to establish a new dry bulk operating platform with a team of experienced professionals, who will join Costamare in investing in the new venture. The new venture will charter-in/out dry bulk vessels, enter into contracts of affreightment and utilize hedging solutions, including, forward freight agreements and bunker hedging.The new venture will have a global footprint through offices in Athens and Monaco and through agencies in Copenhagen, Hamburg and Singapore. Operations are expected to commence in the fourth quarter of 2022. The new venture, to which the Company has committed up to $200MM, is expected to employ minimal, if any, financial leverage.