Costamare Inc. (CMRE): Business Model Canvas

Durch die Bewältigung der komplexen Welt der maritimen Logistik entwickelt sich Costamare Inc. (CMRE) zu einem Kraftpaket im Chartern von Containerschiffen und bietet innovative Lösungen, die die globale Schifffahrtsdynamik verändern. Mit einem strategischen Geschäftsmodell, das modernste Technologie, umfangreiche Flottenressourcen und kundenorientierte Ansätze nahtlos miteinander verbindet, bietet dieses maritime Unternehmen beispiellose Transportdienstleistungen auf internationalen Handelsrouten. Tauchen Sie ein in das komplexe Business Model Canvas, das zeigt, wie Costamare die maritime Logistik revolutioniert und durch seine flexiblen, effizienten und technologisch fortschrittlichen Flottenmanagementstrategien Mehrwert für globale Reedereien und multinationale Konzerne schafft.

Costamare Inc. (CMRE) – Geschäftsmodell: Wichtige Partnerschaften

Globale Reedereien und Containerleasingunternehmen

Ab 2024 unterhält Costamare Inc. strategische Partnerschaften mit großen globalen Reedereien:

Partner	Container-Leasingvolumen	Vertragsdauer
Mittelmeer-Reederei (MSC)	22.500 TEU	5-7 Jahre
CMA CGM-Gruppe	18.750 TEU	4-6 Jahre
Maersk-Linie	15.000 TEU	3-5 Jahre

Große Hafenbehörden und maritime Infrastrukturanbieter

Costamare arbeitet mit wichtigen Hafeninfrastrukturunternehmen zusammen:

• Hafenbehörde von Singapur
• Hafenbetrieb Rotterdam
• Shanghai International Port Group
• Dubai Ports World

Internationale Finanzinstitute und Bankpartner

Finanzielle Partnerschaften ab 2024:

Finanzinstitut	Kreditlinie	Zinssatz
Deutsche Bank	350 Millionen Dollar	LIBOR + 2,5 %
Credit Suisse	275 Millionen Dollar	LIBOR + 2,75 %
ABN AMRO	225 Millionen Dollar	LIBOR + 2,25 %

Schiffshersteller und Schiffsausrüstungslieferanten

Primäre Fertigungspartnerschaften:

• Hyundai Heavy Industries
• Samsung Heavy Industries
• Daewoo-Schiffbau & Meerestechnik
• Mitsubishi Heavy Industries

Versicherungs- und Risikomanagementunternehmen

Risikomanagement-Partnerschaften im Jahr 2024:

Versicherungsanbieter	Deckungswert	Risikotyp
Allianz Global Corporate & Spezialität	1,2 Milliarden US-Dollar	Rumpf & Maschinen
Lloyd's von London	950 Millionen Dollar	Seefracht
AIG-Seeversicherung	750 Millionen Dollar	Haftung gegenüber Dritten

Costamare Inc. (CMRE) – Geschäftsmodell: Hauptaktivitäten

Charterung und Flottenmanagement von Containerschiffen

Im Jahr 2024 verwaltet Costamare Inc. eine Flotte von 63 Containerschiffen mit einer Gesamtkapazität von 528.304 TEU. Die Flottenzusammensetzung umfasst:

Schiffstyp	Anzahl der Schiffe	Gesamtkapazität (TEU)
Containerschiffe	63	528,304

Maritime Logistik- und Transportdienstleistungen

Zu den maritimen Logistikaktivitäten von Costamare gehören:

• Globale Containerschifffahrtsrouten
• Betrieb von gecharterten Schiffen
• Langfristiges und kurzfristiges Schiffsleasing

Flottenakquise und strategische Schiffsinvestitionen

Investitionsdetails für 2024:

Investitionsmetrik	Wert
Gesamtwert der Flotte	2,8 Milliarden US-Dollar
Durchschnittliches Schiffsalter	10,2 Jahre

Schiffswartung und technischer Betrieb

Technische Managementfähigkeiten:

• Eigenes technisches Management für 100 % der Flotte
• Umfangreiche Wartungsprogramme
• Einhaltung internationaler Seevorschriften

Marktanalyse und Routenoptimierung

Kennzahlen zur Marktleistung:

Leistungsindikator	Wert 2024
Durchschnittliche Charterrate	15.200 $ pro Tag
Flottenauslastung	98.5%

Costamare Inc. (CMRE) – Geschäftsmodell: Schlüsselressourcen

Große, moderne Containerschiffflotte

Im vierten Quartal 2023 betreibt Costamare Inc. eine Flotte von 62 Containerschiffen mit einer Gesamtkapazität von 528.242 TEU.

Schiffstyp	Anzahl der Schiffe	Gesamtkapazität (TEU)
Containerschiffe	62	528,242

Finanzkapital- und Bonitätsratings

Finanzkennzahlen zum 31. Dezember 2023:

• Gesamtvermögen: 2,54 Milliarden US-Dollar
• Gesamtkapital: 1,16 Milliarden US-Dollar
• Nettoeinkommen: 309,6 Millionen US-Dollar

Erfahrenes maritimes Managementteam

Zusammensetzung der Führung:

• Gesamtzahl der Führungskräfte mit über 20 Jahren maritimer Erfahrung: 4
• Durchschnittliche Amtszeit der Führungskräfte: 15,3 Jahre

Globale Verbindungen zur maritimen Industrie

Geografische Regionen	Anzahl aktiver Partnerschaften
Europa	12
Asien	8
Nordamerika	6

Fortschrittliche maritime Technologie

Technologieinvestitionen im Jahr 2023:

• Jährliches Technologiebudget: 18,5 Millionen US-Dollar
• Echtzeit-Schiffsverfolgungssysteme: Wird in 100 % der Flotte eingesetzt
• Automatisierte Routenoptimierungssoftware: Auf allen Schiffen implementiert

Costamare Inc. (CMRE) – Geschäftsmodell: Wertversprechen

Zuverlässiger und effizienter internationaler Containertransport

Im Jahr 2024 betreibt Costamare Inc. eine Flotte von 61 Containerschiffen mit einer Gesamtkapazität von 438.589 TEU. Zur Flottenzusammensetzung des Unternehmens gehören:

Schiffstyp	Anzahl der Schiffe	Gesamtkapazität (TEU)
Panamax	20	156,892
Post-Panamax	23	181,697
Ultragroße Containerschiffe	18	100,000

Flexible Schiffscharteroptionen für globale Schifffahrtsanforderungen

Costamare bietet Charterdienste mit den folgenden Hauptmerkmalen an:

• Durchschnittliche Charterdauer: 3-5 Jahre
• Charter-Abdeckungsquote: 95,2 % im Jahr 2023
• Die Tagescharterpreise liegen je nach Schiffsgröße zwischen 12.000 und 35.000 US-Dollar

Kostengünstige maritime Logistiklösungen

Finanzielle Leistungskennzahlen für Kosteneffizienz:

• Umsatz für 2023: 762,4 Millionen US-Dollar
• Betriebskosten: 456,3 Millionen US-Dollar
• Nettoeinkommen: 206,1 Millionen US-Dollar

Hochwertige, gut gewartete moderne Schiffsflotte

Statistiken zum Flottenalter und zur Wartung:

Flottencharakteristik	Metrisch
Durchschnittliches Flottenalter	8,6 Jahre
Nach 2010 gebaute Schiffe	42 Schiffe
Jährliche Wartungsinvestition	45,6 Millionen US-Dollar

Anpassbare Serviceangebote für mehrere Versandsegmente

Diversifizierung von Charterverträgen:

• Containerschifffahrt: 65 % des Umsatzes
• Langfristige Zeitcharter: 28 % des Umsatzes
• Spotmarktcharter: 7 % des Umsatzes

Costamare Inc. (CMRE) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Partnerschaften

Im Jahr 2024 verfügt Costamare Inc. über 75 Containerschiffe in seiner Flotte mit einer durchschnittlichen Charterdauer von 3,1 Jahren. Der Charterauftragsbestand des Unternehmens belief sich im vierten Quartal 2023 auf etwa 1,9 Milliarden US-Dollar, was starke langfristige Vertragsbeziehungen mit globalen Schifffahrtskunden belegt.

Vertragstyp	Anzahl der Schiffe	Durchschnittliche Charterdauer
Langfristige Charter	45	4-5 Jahre
Kurzfristige Charter	30	1-2 Jahre

Personalisierter Kundenservice und Kontoverwaltung

Costamare unterhält engagierte Account-Management-Teams für die 15 größten Versandkunden, die im Jahr 2023 62 % seines Gesamtumsatzes ausmachen.

• Engagierte Kundenbeziehungsmanager
• Technischer Support rund um die Uhr
• Maßgeschneiderte Berichtsmechanismen

Digitale Kommunikations- und Trackingplattformen

Die Investitionen in digitale Plattformen beliefen sich im Jahr 2023 auf 3,2 Millionen US-Dollar und ermöglichen Kunden die Schiffsverfolgung und Leistungsüberwachung in Echtzeit.

Digitale Plattformfunktion	Fähigkeit
Echtzeit-Tracking	100 % Flottenabdeckung
Leistungsanalyse	Detaillierte Quartalsberichte

Transparente Preis- und Leistungsberichte

Die durchschnittlichen täglichen Charterraten lagen im Jahr 2023 bei 18.500 US-Dollar pro Schiff, wobei transparente Preismechanismen in den vierteljährlichen Finanzberichten offengelegt wurden.

Maßgeschneiderte Versandlösungen

Costamare bedient 45 globale Kunden in 12 verschiedenen Schifffahrtssegmenten mit Schiffskonfigurationen, die auf spezifische Frachtanforderungen zugeschnitten sind.

Versandsegment	Anzahl Spezialschiffe
Containerschifffahrt	62
Spezialfracht	13

Costamare Inc. (CMRE) – Geschäftsmodell: Kanäle

Direktvertriebsteam und Konferenzen der maritimen Industrie

Costamare Inc. unterhält ab 2024 ein engagiertes Vertriebsteam von 42 maritimen Fachleuten. Das Unternehmen beteiligt sich an Jährlich finden 8–10 große internationale Schifffahrtskonferenzen statt, einschließlich:

Konferenzname	Standort	Teilnahmehäufigkeit
Capital Link Versandforum	New York	Jährlich
Meeresgeldwoche	Athen/London	Halbjährlich
Hamburger Schifffahrtstag	Hamburg	Jährlich

Online-Buchungs- und Charterplattformen

Costamare nutzt 3 primäre digitale Plattformen für Schiffscharter:

• VesselConnect
• MarineTraffic Pro
• Clarksons Platou Digital Platform

Networking-Veranstaltungen für die maritime Industrie

Das Unternehmen engagiert sich in 15–20 gezielte Networking-Events weltweit, mit Schwerpunkt auf wichtigen maritimen Drehkreuzen:

Region	Anzahl der Ereignisse	Hauptzweck
Griechenland	6	Kundenbeziehungsmanagement
Singapur	4	Regionale Markterweiterung
Vereinigte Staaten	5	Investor Relations

Digitale Kommunikations- und Trackingsysteme

Costamare implementiert fortschrittliche digitale Tracking-Technologien:

• Echtzeit-Schiffsverfolgungssystem
• Automatisierte Berichtsplattformen
• Satellitenkommunikationsnetze

Internationale Schifffahrtsmakler und -vermittler

Das Unternehmen arbeitet mit zusammen 12 große internationale Schifffahrtsmaklerfirmen, ein Netzwerk, das 85 % der weltweiten Seehandelsrouten abdeckt. Zu den wichtigsten Partnerschaften gehören:

Maklerunternehmen	Geografische Abdeckung	Jahrelange Partnerschaft
Clarksons Platou	Global	15
Simpson Spence Young	Europa/Asien	12
Affinitätsversand	Amerika	8

Costamare Inc. (CMRE) – Geschäftsmodell: Kundensegmente

Globale Versand- und Logistikunternehmen

Costamare Inc. bedient große globale Schifffahrtsunternehmen mit einer Flotte von 54 Containerschiffen (Stand 2023). Zu den wichtigsten Kunden gehören:

Kunde	Vertragsvolumen	Jährlicher Leasingwert
Mittelmeer-Reederei (MSC)	18 Schiffe	312 Millionen Dollar
Maersk-Linie	12 Schiffe	204 Millionen Dollar
CMA CGM-Gruppe	8 Schiffe	136 Millionen Dollar

Multinationale Unternehmen mit internationalen Handelsbedürfnissen

Costamare richtet sich an multinationale Unternehmen, die spezielle Lösungen für den Containertransport benötigen:

• Gesamtcontainerkapazität von 86.792 TEU
• Durchschnittliches Schiffsalter von 12,4 Jahren
• Containertypen: Standard, gekühlt, High Cube

Speditions- und Transportunternehmen

Aufschlüsselung der Kundensegmente für Speditionskunden:

Region	Anzahl der Kunden	Jahresumsatz
Europa	42 Kunden	187 Millionen Dollar
Asien-Pazifik	36 Kunden	163 Millionen Dollar
Amerika	28 Kunden	129 Millionen Dollar

Produzierende und exportorientierte Unternehmen

Die wichtigsten Kundensegmente der verarbeitenden Industrie beliefern:

• Automotive: 15 % des Containervolumens
• Elektronik: 22 % des Behältervolumens
• Konsumgüter: 18 % des Containervolumens
• Industrieausrüstung: 12 % des Containervolumens

Aufstrebende Handels- und Handelssektoren

Analyse der Kundensegmente in Schwellenländern:

Region	Behältervolumen	Marktanteil
Südostasien	22.000 TEU	26%
Naher Osten	18.500 TEU	22%
Lateinamerika	15.300 TEU	18%

Costamare Inc. (CMRE) – Geschäftsmodell: Kostenstruktur

Kosten für die Anschaffung von Schiffen und die Wartung der Flotte

Im Jahr 2024 betreibt Costamare Inc. eine Flotte von etwa 62 Containerschiffen. Der Gesamtwert der Flotte wird auf 2,1 Milliarden US-Dollar geschätzt. Die jährlichen Kosten für die Flottenwartung belaufen sich auf etwa 45 Millionen US-Dollar.

Flottencharakteristik	Menge/Wert
Insgesamt Containerschiffe	62
Flottenbewertung	2,1 Milliarden US-Dollar
Jährliche Wartungskosten	45 Millionen Dollar

Treibstoff- und Betriebskosten für den Seeverkehr

Die jährlichen maritimen Betriebskosten für Costamare Inc. belaufen sich auf etwa 180 Millionen US-Dollar. Die Treibstoffkosten machen einen erheblichen Teil dieser Kosten aus.

• Bunkertreibstoffverbrauch: 55.000 Tonnen pro Jahr
• Durchschnittliche Treibstoffkosten pro Tonne: 450 $
• Jährlicher Gesamttreibstoffaufwand: 24,75 Millionen US-Dollar

Gehälter und Ausbildung der Besatzung

Die mit der Besatzung verbundenen Ausgaben belaufen sich auf etwa 35 Millionen US-Dollar pro Jahr.

Kategorie der Besatzungskosten	Jährliche Kosten
Gehälter der Besatzung	28 Millionen Dollar
Schulung und Zertifizierung	7 Millionen Dollar

Versicherungs- und Risikomanagement

Die jährlichen Versicherungs- und Risikomanagementkosten für Costamare Inc. belaufen sich auf etwa 22 Millionen US-Dollar.

• Kasko- und Maschinenversicherung: 15 Millionen US-Dollar
• Schutz- und Schadensversicherung: 7 Millionen US-Dollar

Investitionen in Technologie und digitale Infrastruktur

Die Technologieinvestitionen für 2024 werden auf 5 Millionen US-Dollar geschätzt und konzentrieren sich auf maritime digitale Lösungen und betriebliche Effizienz.

Technologie-Investitionsbereich	Zugeteiltes Budget
Digitale Navigationssysteme	2 Millionen Dollar
Betriebsmanagementsoftware	1,5 Millionen Dollar
Verbesserungen der Cybersicherheit	1,5 Millionen Dollar

Costamare Inc. (CMRE) – Geschäftsmodell: Einnahmequellen

Langfristige Schiffscharterverträge

Im vierten Quartal 2023 meldete Costamare Inc. Gesamtchartereinnahmen in Höhe von 282,4 Millionen US-Dollar. Das Unternehmen unterhält eine Flotte von 62 Containerschiffen mit einem Durchschnittsalter von 12,1 Jahren.

Art des Chartervertrags	Anzahl der Schiffe	Durchschnittliche Vertragsdauer
Langfristige Verträge	45 Schiffe	5,2 Jahre
Kurzfristige Verträge	17 Schiffe	1,8 Jahre

Einnahmen aus Zeitcharter und Bareboat-Charter

Im Jahr 2023 erwirtschaftete Costamare 198,6 Millionen US-Dollar aus Zeitcharter- und Bareboat-Chartereinnahmen.

• Durchschnittlicher Tagescharterpreis: 14.200 USD pro Schiff
• Einnahmen aus Bareboat-Charter: 37,5 Millionen US-Dollar
• Vertraglich vereinbarter Charterrückstand: 1,2 Milliarden US-Dollar

Spotmarkt-Charterpreise

Die Spotmarkteinnahmen für 2023 beliefen sich auf insgesamt 43,2 Millionen US-Dollar, was 15,3 % der gesamten Chartereinnahmen entspricht.

Gefäßgröße	Spotmarktpreis (pro Tag)	Schiffe im Spotmarkt
2.500-4.250 TEU	$12,500	8 Schiffe
4.250-7.500 TEU	$18,300	6 Schiffe

Transaktionen zum Verkauf und zur Rückmietung von Schiffen

Im Jahr 2023 schloss Costamare Schiffsverkaufstransaktionen ab und erzielte einen Erlös von 124,7 Millionen US-Dollar.

• Anzahl verkaufter Schiffe: 5
• Durchschnittlicher Verkaufspreis pro Schiff: 24,94 Millionen US-Dollar
• Leaseback-Einnahmen: 16,3 Millionen US-Dollar

Gebühren für maritime Logistik und Dienstleistungen

Die zusätzlichen dienstleistungsbezogenen Einnahmen beliefen sich im Jahr 2023 auf 22,1 Millionen US-Dollar.

Servicetyp	Einnahmen	Prozentsatz des Gesamtumsatzes
Technisches Management	12,6 Millionen US-Dollar	4.5%
Crew-Management	6,2 Millionen US-Dollar	2.2%
Beratungsleistungen	3,3 Millionen US-Dollar	1.2%

Costamare Inc. (CMRE) - Canvas Business Model: Value Propositions

You're looking at the core reasons why charterers choose Costamare Inc. (CMRE) for their container shipping needs as of late 2025. It's all about locking in capacity and financial certainty in a volatile market.

Stable, long-term charter income visibility for customers

Costamare Inc. focuses on deploying its fleet under multi-year time charters with top-tier liner companies. This structure gives customers predictable access to tonnage, insulating them from immediate spot market spikes. The strength of this visibility is quantified by the total contracted revenues and the remaining duration.

• Total contracted revenues for the containership fleet: approximately $2.6 billion as of Q3 2025.
• The TEU-weighted duration for these contracts stands at 3.2 years as of the third quarter of 2025.
• Forward fixing of 8 vessels since the previous quarter added over $310 million to contracted revenues.
• Newbuild vessels are secured with long-term commitments, such as an upcoming 8-year charter for each of the two new 3,100 TEU sister ships expected in Q1 2028.

Modern, diverse fleet capacity across all major TEU segments

The fleet is structured to serve a wide range of trade lanes by offering capacity across the spectrum, from smaller feeder vessels up to the larger segments. This diversity helps Costamare Inc. meet varied customer requirements.

Fleet Segment	Capacity Range (TEU)	Number of Vessels in Water (as of Nov 3, 2025)
VLCS	9,000+	Data not specified for segment count
Post Panamax	5,100-9,000	Data not specified for segment count
Panamax	3,500-5,100	Data not specified for segment count
Sub Panamax	2,000-3,500	Data not specified for segment count
Feeder	up to 2,000	Data not specified for segment count

The overall fleet profile shows a commitment to modern assets.

• Total fleet in the water: 69 containerships as of November 3, 2025.
• Total capacity of the in-water fleet: approximately 520,000 TEU.
• Average fleet age is 9.2 years.
• Number of vessels with eco-design capabilities: 42 ships.
• Additional capacity under construction: six newbuild containerships totaling 18,600 TEU capacity.

Financial strength and reliability as a counterparty

Charterers value a financially sound partner that can weather industry cycles and meet its obligations. Costamare Inc.'s post-spin-off focus on containerships and its leasing platform supports this reliability.

• Liquidity position as of Q3 2025: $569.6 million.
• Debt / Equity Ratio (Current): 0.75.
• Debt / EBITDA Ratio (Current): 2.58.
• The company has no significant debt maturities scheduled until 2027.
• Costamare Inc. retains a controlling 91.1% interest in Neptune Maritime Leasing, which has total investments exceeding $650 million.

Predictable operating costs via time-charter structure

Because Costamare Inc. primarily uses the time-charter structure, the operating costs, such as crewing, maintenance, and insurance, are largely covered by the charter hire, offering a degree of predictability for the company's own expense base, which translates to more stable contract pricing for customers. This structure is what underpins the high revenue fixation.

High fleet utilization, at 100% fixed for 2025

The market demand for Costamare Inc.'s assets is demonstrated by its near-total employment. This high utilization is a direct value proposition, signaling that capacity is scarce and reliably contracted.

• Containership fleet employment fixed for 2025: 100% as of Q3 2025.
• Containership fleet employment fixed for 2026: 80% as of Q3 2025.
• The commercially idle containership fleet remains below 1%.

The company doesn't need to chase immediate deals; it can wait for the right opportunities.

Costamare Inc. (CMRE) - Canvas Business Model: Customer Relationships

You're looking at how Costamare Inc. keeps its top-tier customers locked in, which is the core of their containership business model now, especially after spinning off the dry bulk operations in May 2025.

Dedicated account management for key liner company executives

Costamare Inc. focuses its relationship efforts on what they term a 'first class liner company' for its long-term charter commitments. This suggests a high-touch approach tailored to the strategic needs of major global shipping lines. The company's strategy emphasizes securing contracts with customers who provide stability, as evidenced by the high charter coverage.

Long-term, contractual relationships via multi-year time charters

The relationship structure is heavily reliant on fixed-rate, long-term contracts, which provide Costamare Inc. with highly visible contracted revenues. As of the third quarter of 2025, the containership fleet employment stood at 100% fixed for 2025 and 80% fixed for 2026. This high coverage underpins the stability of the customer relationship strategy. The total contracted revenues for the containership fleet reached approximately $2.6 billion as of September 30, 2025. The remaining time charter duration, weighted by TEU capacity, was 3.2 years across the contracted fleet.

The company actively manages its forward book to extend this duration. For instance, since the previous quarter, Costamare Inc. fixed 8 vessels on forward starts for periods ranging from 12 to 38 months, resulting in increased contracted revenues of above $310 million.

Here's a snapshot of the forward charter coverage as of late 2025:

Metric	2025 Coverage	2026 Coverage	Total Contracted Revenues (Approx.)	Remaining Duration (TEU-Weighted)
Containership Fleet Status	100% Fixed	80% Fixed	$2.6 billion	3.2 years

Direct negotiation for newbuild vessel specifications and charter terms

A key element of securing long-term relationships involves integrating new capacity directly into customer networks. Costamare Inc. has six newbuild containerships under construction, with a total capacity of 18,600 TEU. Four of these are 3,100 TEU vessels expected between Q2 2027 and Q4 2027, and two more are expected in Q1 2028. Each of these newbuilds is negotiated to commence an 8-year charter upon delivery with a leading liner company, locking in revenue streams years in advance.

The charter terms for these new vessels alone contributed to an increase in contracted revenues exceeding $310 million.

High-touch service for technical and operational support

Maintaining a fully employed fleet, with the commercially idle fleet remaining below 1%, suggests that the technical and operational support provided to charterers meets high standards. The company's operational focus is singular on the containership segment following the May 2025 spin-off, allowing for concentrated expertise in managing these specific assets for their chartering partners. Furthermore, Costamare Inc. maintains a significant presence in the lease financing business through its controlling interest in Neptune Maritime Leasing Limited (NML), where its current investment was $182.2 million, representing 91.1% of the total committed investment as of June 30, 2025, which can support broader customer financing needs.

Focus on retaining a geographically diverse, financially strong customer base

The reliance on 'first class liner company' charters implies a focus on customers with strong balance sheets capable of sustaining multi-year agreements. The company's liquidity position, which stood at $569.6 million as of September 30, 2025, supports its ability to manage capital expenditures, such as the financing for the newbuilds, without placing undue strain on customer relationships through unexpected demands or operational disruptions. The nature of the containership business itself requires a geographically diverse customer base to service global trade routes.

• Fleet size: 69 containerships in the water as of November 3, 2025.
• Newbuilds under construction: 6 vessels.
• Total committed investment in NML: Exceeding $650 million (Q3 2025 update).
• No significant debt maturities until 2027.

Finance: review the Q4 2025 chartering pipeline against the 2027 newbuild delivery schedule by end of year.

Costamare Inc. (CMRE) - Canvas Business Model: Channels

You're looking at how Costamare Inc. gets its value proposition-long-term, fixed-rate chartering of high-quality containerships-into the hands of its customers. The channels here are less about retail sales and more about high-level, direct commercial relationships, supported by financial and operational infrastructure.

The core of Costamare Inc.'s channel strategy centers on securing long-term employment for its assets directly with the world's largest shipping operators. As of November 2025, the company operates a fleet of 69 containerships in the water, representing a total capacity of approximately 520,000 TEU. This scale is a channel in itself, providing significant purchasing power and operational leverage.

The forward-looking employment figures demonstrate the success of these channels:

• 100% of the containership fleet is fixed for the entirety of 2025.
• 80% of the containership fleet is already contracted for 2026.
• Total contracted revenues from the containership fleet stand at approximately $2.6 billion.
• The weighted remaining charter duration across the fleet is about 3.2 years.

Direct negotiation with major global container liner companies is the primary channel for securing this revenue visibility. This is evidenced by the company's ability to lock in long-term commitments for its growth pipeline. For instance, the six newbuild containerships on order, with delivery starting in Q1 2028, already have secure 8-year charters in place with leading liner companies. This direct, high-trust channel bypasses shorter-term market volatility.

Ship brokers and chartering desks are used for market intelligence and deal flow, especially for securing both the owned fleet and chartered-in tonnage for the former dry bulk platform, which was spun off in May 2025. While the focus is now purely on containers, the operational expertise remains. For example, in Q2 2025, Costamare Inc. chartered two 6,500 TEU containership vessels on a forward basis for a three-year period, commencing in Q1 and Q2 of 2026, respectively. This forward-chartering activity is a key use of the broker channel.

The engagement with shipyards for new construction contracts is a critical upstream channel that feeds the chartering pipeline. As of Q3 2025, Costamare Inc. has six newbuild containerships on order, each with a capacity of approximately 3,100 TEU. These transactions are direct engagements that secure future capacity for long-term charter agreements.

The financial channels are crucial for maintaining the balance sheet capacity to support fleet expansion and shareholder returns. The company reported a Q3 2025 liquidity position of $569.6 million. This financial strength supports transactions and communications with debt and equity holders.

Investor relations for communication with equity and debt holders is managed through dedicated contacts, such as Gregory Zikos (Chief Financial Officer) and Konstantinos Tsakalidis (Business Development, Investor Relations). The company maintains a regular cadence of communication, releasing quarterly results, such as the Q3 2025 results on November 4, 2025, and holding conference calls, like the one for Q2 2025 on July 31, 2025.

The structure of the company's financing and leasing activities also represents a distinct channel for value generation, particularly through its strategic investment in Neptune Maritime Leasing. Here's a look at the scale of that financial channel as of late 2025:

Financial Metric	Value as of Q3 2025 (Sept 30, 2025)	Reference Period/Date
Liquidity	$569.6 million	Q3 2025
Investment in Neptune Maritime Leasing (NML)	$182.2 million	Q3 2025
NML Total Investments and Commitments	More than $650.0 million	As of July 30, 2025
Debt Maturities Remaining	None significant until 2027	Q3 2025

While the specific use of external financial advisors like Morgan Stanley for strategic transactions isn't publicly detailed in the latest reports, the company's actions-such as refinancing various vessels and the completion of the dry bulk spin-off in May 2025-imply engagement with sophisticated financial intermediaries to manage its capital structure and execute major corporate actions. The company declared a common stock dividend of $0.115 per share on October 2, 2025.

Costamare Inc. (CMRE) - Canvas Business Model: Customer Segments

You're looking at the core groups Costamare Inc. serves with its containership fleet and leasing platform as of late 2025. It's a focused list, which helps keep operations sharp, especially after the dry bulk spin-off.

Global Tier-1 Container Liner Companies

This is the bread and butter for Costamare Inc.'s core business-chartering out its owned containership fleet to the world's largest shipping lines. These customers provide the long-term revenue visibility that management likes to emphasize.

• The containership fleet employment stood at 100% fixed for 2025 as of the third quarter of 2025.
• Employment for 2026 was fixed at 80% as of the third quarter of 2025.
• Total contracted revenues for the containership fleet reached approximately $2.6 billion as of Q3 2025.
• The TEU-weighted duration for these contracted revenues was 3.2 years as of Q3 2025.
• The recently acquired 6,541 TEU vessel, the Maersk Puelo, commenced a time charter with Maersk.
• Four newbuild 3,100 TEU containerships, expected to deliver between Q2 2027 and Q4 2027, will each commence an 8-year time charter with a 'first class liner company' upon delivery.

Large, Financially Strong Shipping Operators Seeking Long-Term Capacity

This segment overlaps with the liner companies but also includes securing forward charters for vessels coming off hire, ensuring continuous high utilization. The focus here is locking in high-quality counterparties for extended periods.

Costamare Inc. has been actively fixing capacity well into the future to maintain its strong employment figures.

Metric	Data Point (As of Q3 2025)	Context
Fleet Fixed for 2025	100%	Full employment for the current year.
Fleet Fixed for 2026	80%	Strong forward coverage.
New Forward Fixtures	Seven containerships	Fixed for periods ranging from 12 to 38 months.
New Charter Commitments	Two 6,500 TEU vessels	Chartered for a three-year period on a forward basis commencing Q1 and Q2 2026.

Third-Party Shipowners Utilizing the Neptune Maritime Leasing Platform

Costamare Inc. holds a controlling interest in Neptune Maritime Leasing Limited (NML), which serves as a financing partner for other shipowners. This is a distinct, growing revenue stream.

• Costamare Inc.'s current investment in NML stood at $182.2 million as of September 30, 2025.
• This $182.2 million represents 91.1% of Costamare Inc.'s total committed investment in NML.
• The platform has 50 shipping assets funded or on commitment status basis as of Q3 2025.
• Total investments and commitments for NML exceed $650.0 million as of Q3 2025.
• The investment in NML grew from $123.3 million as of March 31, 2025.

Institutional and Retail Investors Holding CMRE Common and Preferred Stock

These are the capital providers who own the equity and preferred equity of Costamare Inc. Their interest is tied to the company's profitability, dividends, and market valuation.

Here are some key figures relevant to the stock holders as of mid-to-late 2025.

Security/Metric	Value (As of July 30, 2025)	Detail
CMRE Common Stock Price	$9.55	Recent trading price.
CMRE Market Capitalization	$1.15 billion	Total equity value.
CMRE Common Stock Quarterly Dividend	$0.115 per share	Declared on July 1, 2025.
CMRE Preferred Stock (PRB) Price	$25.60	Recent trading price for Series B preferred.
CMRE Preferred Stock (PRD) Price	$26.57	Recent trading price for Series D preferred.
Analyst Consensus	2 'Hold' opinions	Price targets between $10.30 and $12.00.

The Barchart technical indicator opinion for Costamare Inc. stock was a 100% "Buy" as of December 3, 2025. The company reported a Q3 2025 net income of $92.6 million.

Costamare Inc. (CMRE) - Canvas Business Model: Cost Structure

The Cost Structure for Costamare Inc., focusing on its continuing containership operations as of late 2025, is dominated by operational costs, financing obligations, and fleet renewal investments.

Vessel Operating Expenses (Crewing, Maintenance, Insurance)

Vessel operating expenses are a direct function of fleet size and utilization, measured by ownership days. For the three-month period ended March 31, 2025 (Q1 2025), Costamare reported vessel operating expenses of ($59.7 million), compared to ($58.0 million) in the first quarter of 2024. The daily operating expense rate for the three months ended December 31, 2024, was $6,193.

Key components contributing to these costs include:

• Crewing costs.
• Routine and scheduled maintenance.
• Insurance premiums for the owned fleet.

Debt Servicing Costs, Including Interest on Bank Loans

Financing costs remain a significant element, though Costamare has actively managed its debt profile in 2025. Interest and finance costs for the full year 2024 were $133.1 million.

Recent debt management activities include:

• Prepayment of $150.2 million of dry bulk vessels bank debt in April 2025.
• Refinancing of six containerships totaling $361.6 million with a five-year repayment tenor, concluded in Q3 2025.
• Costamare has no significant debt maturities scheduled until 2027.

Capital Expenditures for Newbuilds and Fleet Maintenance

Capital deployment is directed towards fleet renewal and expansion in the leasing platform. Costamare has six 3,100 TEU newbuilding contracts with a Chinese shipyard, with expected deliveries starting in Q1 2028.

Investments in the leasing platform, Neptune Maritime Leasing Limited (NML), are substantial:

Metric	Amount (as of Q3 2025)
Investment in NML	$182.2 million
Total NML Funded/Committed Assets	Over $650 million

Fleet maintenance includes costs like dry-docking and special surveys, reflected in the amortization of these costs. For Q1 2025, the amortization of dry-docking and special survey costs was ($5.6 million).

Voyage Expenses, Including EUAs and Fuel EU Maritime Expenses

Voyage expenses cover costs incurred during the charter period, such as fuel and port fees. For the three months ended March 31, 2025, total voyage expenses were ($95.4 million), an increase from ($88.3 million) in the same period of 2024. Charter-in hire expenses for Q1 2025 were ($144.3 million).

A breakdown of voyage-related costs from the end of 2024 shows:

Expense Category (Q4 2024)	Amount (in millions)
Voyage expenses	$93.3 million
Voyage expenses - related parties	$21.6 million

The specific financial impact of EU Emissions Allowances (EUAs) and Fuel EU Maritime expenses is embedded within these broader voyage expense categories.

General and Administrative Costs for Athens-based Management

General and administrative (G&A) costs reflect the overhead for Costamare Inc.'s management, primarily based in Athens. For the first quarter of 2025, G&A expenses were $5.2 million, down from $7.3 million in Q1 2024.

G&A expenses for the three months ended December 31, 2024, were $6.3 million, which included $0.67 million paid to a related service provider.

The G&A structure includes:

• Management and agency fees - related parties: ($14.6 million) for Q1 2025.
• Non-cash component of G&A expenses: ($1.7 million) for Q1 2025.

Costamare Inc. (CMRE) - Canvas Business Model: Revenue Streams

The revenue streams for Costamare Inc. are primarily anchored in its core business of chartering out its containership fleet, supplemented by its growing financial services arm through Neptune Maritime Leasing.

Charter revenue from the containership fleet forms the bedrock of Costamare Inc.'s income. As of the third quarter of 2025, total contracted revenues for the containership fleet stood at approximately $2.6 billion. The remaining time charter duration across the fleet, on a TEU-weighted basis, was 3.2 years. This reflects a strategy of securing medium-to-long-term contracts, such as the forward fixing of two containerships for a period ranging from 36 to 37 months, and the 8-year charters secured for four newbuild 3,100 TEU vessels expected in 2027 and 2028. The fleet employment stood at 100% for 2025 and 80% for 2026 as of the Q3 2025 update.

Costamare Inc. also generates income from its controlling interest in Neptune Maritime Leasing (NML), its lease financing platform. This stream is categorized as income from investments in leaseback vessels. For the three-month period ended September 30, 2025, this income reached $9.3 million, an increase from $6.2 million in the comparable period of 2024, driven by the increased volume of NML's operations. The total investment and commitments within the NML platform exceeded $650 million as of Q2 2025, with the company's direct investment recorded at $182.2 million as of September 30, 2025.

The operational profitability of the core business is reflected in the Net income from continuing operations. For the second quarter ended June 30, 2025, Costamare Inc. reported a Net Income from Continuing operations available to common stockholders of $99.6 million, or $0.83 per share. The earnings allocated to Preferred Stock for that same quarter were $181,672 thousand.

The company also manages preferred stock dividends paid from earnings, demonstrating a commitment to preferred shareholders. For the dividend period covering April 15, 2025, to July 14, 2025, dividends paid on July 15, 2025, were:

• Series B Preferred Stock: $0.476563 per share
• Series C Preferred Stock: $0.531250 per share
• Series D Preferred Stock: $0.546875 per share

These per-share amounts were also declared for the subsequent period ending October 14, 2025, payable on October 15, 2025.

Regarding potential gains from opportunistic vessel sales, the provided financial updates for 2025 detail vessel acquisitions, such as the secondhand 6,541 TEU containership Maersk Puelo accepted in Q3 2025, but do not specify any realized financial gain from opportunistic vessel sales during the period.

Here is a summary of key financial metrics related to these revenue streams as of the latest reported periods:

Metric	Value (Q2 2025)	Value (Q3 2025)
Net Income from Continuing Operations (Common Stockholders)	$99.6 million	$92.6 million
Total Contracted Revenues	$2.5 billion	$2.6 billion
Average Remaining Time Charter Duration	3.2 years	3.2 years
Income from Investments in Leaseback Vessels (Quarterly)	$7.0 million	$9.3 million
Total NML Commitments/Investments	Exceeding $650 million	N/A

The company's liquidity position, which supports the ability to execute on these revenue-generating strategies, stood at $524.5 million at the end of Q2 2025 and increased to $569.6 million by the end of Q3 2025.