Costamare Inc. Announces Investment in Neptune Maritime Leasing Limited
16 Marzo 2023 - 5:56AM
Costamare Inc. (“Costamare” or the “Company”) (NYSE: CMRE) has
agreed to become the leading investor in Neptune Maritime Leasing
Limited (“Neptune Leasing”) through the investment of an amount of
up to $200 million.
Neptune Leasing is a growth-oriented maritime
leasing platform providing flexible financing solutions to
shipowners, which was established in 2021 by seasoned financier
Harris Antoniou, who will continue as CEO.
Mr. Vassilis Mantzavinos, an experienced
shipping banker, will be appointed, among others, as an additional
Board member of Neptune Leasing on behalf of Costamare.
Costamare is pleased to be teaming up in this
venture with Neptune Leasing’s anchor investor, Latsco Family
Office, the Family Office of Marianna J. Latsis’ family, which is
also increasing its investment in Neptune Leasing.
Considering current asset values, the Company
believes that the Neptune Leasing investment is a favourable
employment of the Company’s increased liquidity and is expected to
provide healthy returns at acceptable risk levels. The new venture
is synergetic to the existing ship owning platform and is expected
to further enhance the strong relationships built over the last
decades with shipowners and commercial lenders in the ship
financing sector.
About Costamare Inc.
Costamare Inc. is one of the world’s leading
owners and providers of containerships and dry bulk vessels for
charter. The Company has 49 years of history in the international
shipping industry and a fleet of 72 containerships, with a total
capacity of approximately 531,000 TEU (including one vessel that we
have agreed to sell) and 45 dry bulk vessels with a total capacity
of approximately 2,436,000 DWT. The Company also has a dry bulk
operating platform which charters in/out dry bulk vessels, enters
into contracts of affreightment and utilizes hedging solutions.
Four of our containerships have been acquired pursuant to the
Framework Deed with York by vessel-owning joint venture companies
in which we hold a minority equity interest. The Company’s common
stock, Series B Preferred Stock, Series C Preferred Stock, Series D
Preferred Stock and Series E Preferred Stock trade on the New York
Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”,
“CMRE PR D” and “CMRE PR E”, respectively.
Forward-Looking Statements
This press release contains “forward-looking
statements”. In some cases, you can identify these statements by
forward-looking words such as “believe”, “intend”, “anticipate”,
“estimate”, “project”, “forecast”, “plan”, “potential”, “may”,
“should”, “could” and “expect” and similar expressions. These
statements are not historical facts but instead represent only the
Company’s belief regarding future results, many of which, by their
nature, are inherently uncertain and outside of the Company’s
control. It is possible that actual results may differ, possibly
materially, from those anticipated in these forward-looking
statements. For a discussion of some of the risks and important
factors that could affect future results, see the discussion in the
Company’s Annual Report on Form 20-F (File No. 001-34934) under the
caption “Risk Factors”.
Company Contacts:Gregory Zikos - Chief
Financial OfficerKonstantinos Tsakalidis - Business Development,
Investor Relations
Costamare Inc., MonacoTel: (+377) 93 25 09 40Email:
ir@costamare.com
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