SIMIC

Revenue totalled $3.4 billion in the twelve-month period ending Decembeer 31, 2021.

Said Costamare chief financial officer Gregory Zikos: "2021 has been a record year for Costamare. With a fleet of 123 vessels, including 46 dry bulk ships, the company generated net income of above $400 million. As of the end of the year, liquidity stood at $550 million.

"On the containerships side, market conditions remained firm with strong demand and logistical disruptions continuing to impact the sector. We chartered a total of 35 secondhand vessels during the year, which added incremental contracted revenues of $1.4 billion. Total contracted revenues amount to $3.4 billion with a weighted average remaining time charter duration of about four years."

Looking ahead, Mr Zikos pointed out that " we have covered substantially all of our containership open days for 2022 and are in the process of arranging employment for the vessels coming off charter next year".

He added that the company had agreed to dispose of some of the older tonnage with forward year-end deliveries at prices that reflect today's tight market environment.

"The Company has decided to declare a special dividend of $0.50 per common share. While rewarding our shareholders as a result of increased cash flows and profitability, the payment of that dividend is not expected in any way to affect our capacity to continue growing opportunistically in a volatile market environment," Mr Zikos said.

Costamare is one of the world's leading owners and providers of containerships for charter. The company has 48 years of history in the international shipping industry and a fleet of 85 containerships, with a total capacity of approximately 670,600 TEU (including eight newbuild vessels currently under construction and six vessels that we have agreed to sell) and 46 dry bulk vessels with a total capacity of approximately 2,493,500 dwt (including one secondhand vessel that we have agreed to acquire).