Costamare Inc. reported net income from continuing operations of $371 million for the full year 2025. The figure translates to $3.09 per share.
The containership owner posted fourth quarter net income from continuing operations of $72.6 million, or $0.60 per share. The company held liquidity of $589.6 million as of December 31, 2025.
The financial results reflect the spinoff of Costamare’s dry bulk business. The company completed the separation on May 6, 2025. The dry bulk operations are now presented as discontinued operations.
Costamare secured 12 new charter fixtures on a forward basis. The deals add approximately $940 million in contracted revenues. The fixtures include five 14,400 TEU vessels for a minimum of eight years, four 5,000 TEU vessels for approximately three years, two 9,400 TEU vessels for approximately three years, and one 4,200 TEU vessel for three years. The TEU-weighted average duration across all forward fixtures is approximately six years.
The company has fixed 96% of its containership fleet for 2026 and 92% for 2027. Total contracted revenues for the containership fleet reached approximately $3.4 billion. The TEU-weighted duration stands at 4.5 years.
Costamare arranged new debt financing for its newbuilding program. The company secured bilateral financing for two 3,100 TEU vessels. This brings the total number of 3,100 TEU newbuilding orders with committed financing to six.
The company also refinanced a matured facility with a new bilateral agreement from a European financial institution. The new facility has a five-year tenor and significantly lower funding costs. Two of five vessels from the original facility will secure the new loan. The remaining three vessels are now mortgage-free.
Costamare increased its investment commitment in Neptune Maritime Leasing Limited to $247.8 million. The company has invested $182.2 million to date, representing 73.5% of its total commitment. The leasing platform now has 54 shipping assets funded or on commitment status. Total investments and commitments exceed $665 million.
CFO Gregory Zikos said the charter market remains strong with less than 1% idle fleet. High demand for tonnage and limited supply of prompt ships continue to support the market.
The company declared a dividend of $0.115 per common share. Payment was made on February 5, 2026, to holders of record as of January 20, 2026.
