Costamare Inc. (CMRE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Navegando pelo complexo mundo da logística marítima, a Costamare Inc. (CMRE) surge como uma potência na fretamento de navios de contêineres, oferecendo soluções inovadoras que transformam a dinâmica global de remessa. Com um modelo de negócios estratégico que combina perfeitamente com a tecnologia de ponta, extensos recursos de frota e abordagens centradas no cliente, esta empresa marítima oferece serviços de transporte incomparáveis ​​em rotas comerciais internacionais. Mergulhe na intrincada tela do modelo de negócios que revela como a Costamare revoluciona a logística marítima, criando valor para empresas de navegação globais e empresas multinacionais por meio de suas estratégias de gerenciamento de frotas flexíveis, eficientes e tecnologicamente avançadas.

Costamare Inc. (CMRE) - Modelo de negócios: Parcerias -chave

Linhas de remessa globais e empresas de leasing de contêineres

A partir de 2024, a Costamare Inc. mantém parcerias estratégicas com as principais linhas de remessa globais:

Parceiro	Volume de arrendamento de contêineres	Duração do contrato
Companhia de transporte Mediterrâneo (MSC)	22.500 TEU	5-7 anos
Grupo CMA CGM	18.750 TEU	4-6 anos
Linha Maersk	15.000 TEU	3-5 anos

Principais autoridades portuárias e provedores de infraestrutura marítima

Costamare colabora com as principais entidades de infraestrutura portuária:

• Autoridade do porto de Cingapura
• Autoridade do porto de Roterdã
• Grupo Portuário Internacional de Xangai
• DUBAI PORTS WORLD

Instituições financeiras internacionais e parceiros bancários

Parcerias financeiras em 2024:

Instituição financeira	Linha de crédito	Taxa de juro
Deutsche Bank	US $ 350 milhões	Libor + 2,5%
Crédito Suisse	US $ 275 milhões	Libor + 2,75%
ABN AMRO	US $ 225 milhões	Libor + 2,25%

Fabricantes de navios e fornecedores de equipamentos marítimos

Parcerias de fabricação primárias:

• Hyundai Heavy Industries
• Samsung Heavy Industries
• Daewoo Shipbuilding & Engenharia Marinha
• Mitsubishi Heavy Industries

Empresas de seguro e gerenciamento de riscos

Parcerias de gerenciamento de riscos em 2024:

Provedor de seguros	Valor de cobertura	Tipo de risco
Allianz Global Corporate & Especialidade	US $ 1,2 bilhão	Casco & Máquinas
Lloyd's of London	US $ 950 milhões	Carga marinha
Seguro marítimo AIG	US $ 750 milhões	Responsabilidade de terceiros

Costamare Inc. (CMRE) - Modelo de negócios: Atividades -chave

Fretamento de navios de contêineres e gerenciamento de frota

A partir de 2024, a Costamare Inc. gerencia uma frota de 63 contêineres com uma capacidade total de 528.304 TEU. A composição da frota inclui:

Tipo de embarcação	Número de navios	Capacidade total (TEU)
Recipientes	63	528,304

Serviços de logística e transporte marítimos

As operações de logística marítima de Costamare incluem:

• Rotas globais de envio de contêineres
• Operações de embarcações fretadas
• Arrendamento de embarcações de longo e curto prazo

Aquisição de frota e investimentos em embarcações estratégicas

Detalhes do investimento para 2024:

Métrica de investimento	Valor
Valor total da frota	US $ 2,8 bilhões
Idade média da embarcação	10,2 anos

Manutenção de embarcações e operações técnicas

Recursos de gerenciamento técnico:

• Gerenciamento técnico interno para 100% da frota
• Programas de manutenção abrangentes
• Conformidade com os regulamentos marítimos internacionais

Análise de mercado e otimização de rotas

Métricas de desempenho de mercado:

Indicador de desempenho	2024 Valor
Taxa de fretamento média	US $ 15.200 por dia
Taxa de utilização da frota	98.5%

Costamare Inc. (CMRE) - Modelo de negócios: Recursos -chave

Frota grande e moderna de navio de contêineres

A partir do quarto trimestre 2023, a Costamare Inc. opera uma frota de 62 contêineres, com uma capacidade total de 528.242 TEU.

Tipo de embarcação	Número de navios	Capacidade total (TEU)
Recipientes	62	528,242

Capital financeiro e classificações de crédito

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 2,54 bilhões
• Patrimônio total: US $ 1,16 bilhão
• Lucro líquido: US $ 309,6 milhões

Equipe de gerenciamento marítimo experiente

Composição de liderança:

• Total de executivos com mais de 20 anos de experiência marítima: 4
• PRODIÇÃO EXECUTIVO Média: 15,3 anos

Conexões da indústria marítima global

Regiões geográficas	Número de parcerias ativas
Europa	12
Ásia	8
América do Norte	6

Tecnologia marítima avançada

Investimentos de tecnologia em 2023:

• Orçamento de tecnologia anual: US $ 18,5 milhões
• Sistemas de rastreamento de embarcações em tempo real: implantado em 100% da frota
• Software de otimização de rota automatizada: implementado em todos os navios

Costamare Inc. (CMRE) - Modelo de Negócios: Proposições de Valor

Transporte internacional de contêineres confiáveis ​​e eficientes

A partir de 2024, a Costamare Inc. opera uma frota de 61 contêineres com uma capacidade total de 438.589 TEU. A composição da frota da empresa inclui:

Tipo de embarcação	Número de embarcações	Capacidade total (TEU)
Panamax	20	156,892
Pós-panamax	23	181,697
Vasos de contêineres ultra grandes	18	100,000

Opções flexíveis de fretamento de embarcações para as necessidades globais de remessa

A Costamare fornece serviços fretados com as seguintes características -chave:

• Duração média da fretamento: 3-5 anos
• Taxa de cobertura da fretamento: 95,2% em 2023
• Taxas de fretamento diário que variam de US $ 12.000 a US $ 35.000, dependendo do tamanho da embarcação

Soluções de logística marítima econômica

Métricas de desempenho financeiro para custo-efetividade:

• Receita para 2023: US $ 762,4 milhões
• Despesas operacionais: US $ 456,3 milhões
• Lucro líquido: US $ 206,1 milhões

Frota de vaso moderna bem conservada e bem conservada

Estatísticas de idade e manutenção da frota:

Característica da frota	Métrica
Idade média da frota	8,6 anos
Navios construídos depois de 2010	42 navios
Investimento anual de manutenção	US $ 45,6 milhões

Ofertas de serviço adaptáveis ​​em vários segmentos de remessa

Diversificação de contratos de fretamento:

• Frete de contêineres: 65% da receita
• Cartas de longo prazo: 28% da receita
• Cartas de mercado à vista: 7% da receita

Costamare Inc. (CMRE) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias baseadas em contratos de longo prazo

A partir de 2024, a Costamare Inc. possui 75 contêineres em sua frota, com uma duração média de 3,1 anos. O atraso da Charter da empresa foi de aproximadamente US $ 1,9 bilhão a partir do quarto trimestre 2023, demonstrando fortes relações contratuais de longo prazo com clientes de transporte global.

Tipo de contrato	Número de embarcações	Duração média da fretamento
Cartas de longo prazo	45	4-5 anos
Cartas de curto prazo	30	1-2 anos

Atendimento ao cliente personalizado e gerenciamento de contas

A Costamare mantém as equipes de gerenciamento de contas dedicadas para os 15 principais clientes de transporte marítimo, representando 62% de sua receita total em 2023.

• Gerentes dedicados de relacionamento com o cliente
• Suporte técnico 24/7
• Mecanismos de relatórios personalizados

Plataformas de comunicação e rastreamento digital

O investimento em plataformas digitais atingiu US $ 3,2 milhões em 2023, permitindo o rastreamento de embarcações em tempo real e o monitoramento de desempenho dos clientes.

Recurso da plataforma digital	Capacidade
Rastreamento em tempo real	100% de cobertura da frota
Análise de desempenho	Relatórios trimestrais detalhados

Relatórios de preços e desempenho transparentes

As taxas médias diárias de fretamento em 2023 foram de US $ 18.500 por embarcação, com mecanismos de preços transparentes divulgados em relatórios financeiros trimestrais.

Soluções de remessa personalizadas

A Costamare atende 45 clientes globais em 12 segmentos de remessa diferentes, com configurações de embarcação adaptadas a requisitos de carga específicos.

Segmento de envio	Número de embarcações especializadas
Envio de contêineres	62
Carga especializada	13

Costamare Inc. (CMRE) - Modelo de Negócios: Canais

Equipe de vendas diretas e conferências da indústria marítima

A Costamare Inc. mantém uma equipe de vendas dedicada de 42 profissionais marítimos a partir de 2024. A empresa participa de 8-10 grandes conferências internacionais de remessa anualmente, incluindo:

Nome da conferência	Localização	Frequência de participação
Fórum de remessa de link de capital	Nova Iorque	Anual
Semana do dinheiro marinho	Atenas/Londres	Semestral
Conferência de Envio de Hamburgo	Hamburgo	Anual

Plataformas de reserva e fretamento on -line

Costamare utiliza 3 plataformas digitais primárias para fretamento de embarcações:

• VesselConnect
• Marinetraffic pro
• Clarksons Platou Digital Platform

Eventos de rede da indústria marítima

A empresa se envolve em 15-20 Eventos de rede direcionados Globalmente, com foco nos principais centros marítimos:

Região	Número de eventos	Propósito primário
Grécia	6	Gerenciamento de relacionamento com o cliente
Cingapura	4	Expansão regional do mercado
Estados Unidos	5	Relações com investidores

Sistemas de comunicação e rastreamento digital

Costamare implementos Tecnologias avançadas de rastreamento digital:

• Sistema de rastreamento de embarcações em tempo real
• Plataformas de relatórios automatizados
• Redes de comunicação por satélite

Corretores de remessa internacionais e intermediários

A empresa colabora com 12 grandes corretoras internacionais de remessa, representando uma rede cobrindo 85% das rotas comerciais marítimas globais. As principais parcerias incluem:

Corretora	Cobertura geográfica	Anos de parceria
Clarksons Platou	Global	15
Simpson Spence Young	Europa/Ásia	12
Envio de afinidade	Américas	8

Costamare Inc. (CMRE) - Modelo de negócios: segmentos de clientes

Empresas globais de remessa e logística

A Costamare Inc. serve as principais entidades de transporte global com uma frota de 54 contêineres a partir de 2023. Os principais clientes incluem:

Cliente	Volume de contrato	Valor anual de arrendamento
Companhia de transporte Mediterrâneo (MSC)	18 navios	US $ 312 milhões
Linha Maersk	12 navios	US $ 204 milhões
Grupo CMA CGM	8 navios	US $ 136 milhões

Corporações multinacionais com necessidades de comércio internacional

As empresas multinacionais da Costamare se destacam que exigem soluções especializadas de remessa de contêineres:

• Capacidade total de contêineres de 86.792 TEU
• Idade média da embarcação de 12,4 anos
• Tipos de contêineres: padrão, refrigerado e alto cubo

Empresas de encaminhamento e transporte de frete

A quebra do segmento de clientes para clientes de encaminhamento de frete:

Região	Número de clientes	Receita anual
Europa	42 clientes	US $ 187 milhões
Ásia -Pacífico	36 clientes	US $ 163 milhões
Américas	28 clientes	US $ 129 milhões

Empresas de fabricação e exportação

Principais segmentos de clientes de fabricação servidos:

• Automotivo: 15% do volume de contêineres
• Eletrônica: 22% do volume de contêineres
• Bens de consumo: 18% do volume de contêineres
• Equipamento industrial: 12% do volume de contêineres

Setores de comércio e comércio emergentes do mercado

Análise de segmento de clientes emergentes do mercado:

Região	Volume de contêiner	Quota de mercado
Sudeste Asiático	22.000 TEU	26%
Médio Oriente	18.500 TEU	22%
América latina	15.300 TEU	18%

Costamare Inc. (CMRE) - Modelo de negócios: estrutura de custos

Despesas de aquisição de embarcações e manutenção de frota

A partir de 2024, a Costamare Inc. opera uma frota de aproximadamente 62 contêineres. O valor total da frota é estimado em US $ 2,1 bilhões. As despesas anuais de manutenção da frota são de aproximadamente US $ 45 milhões.

Característica da frota	Quantidade/valor
Total de contêineres	62
Avaliação da frota	US $ 2,1 bilhões
Despesas anuais de manutenção	US $ 45 milhões

Custos marítimos de combustível e operacional

Os custos operacionais marítimos anuais da Costamare Inc. são de aproximadamente US $ 180 milhões. As despesas com combustível representam uma parcela significativa desses custos.

• Consumo de combustível de bunker: 55.000 toneladas métricas anualmente
• Custo médio de combustível por ton métrica: $ 450
• Gasto anual total de combustível: US $ 24,75 milhões

Salários e treinamento da tripulação

As despesas relacionadas à tripulação totalizam aproximadamente US $ 35 milhões anualmente.

Categoria de despesa da tripulação	Custo anual
Salários da tripulação	US $ 28 milhões
Treinamento e certificação	US $ 7 milhões

Seguro e gerenciamento de riscos

As despesas anuais de seguro e gerenciamento de riscos da Costamare Inc. são de aproximadamente US $ 22 milhões.

• Seguro de casco e máquinas: US $ 15 milhões
• Seguro de proteção e indenização: US $ 7 milhões

Investimentos de tecnologia e infraestrutura digital

O investimento em tecnologia para 2024 é estimado em US $ 5 milhões, com foco em soluções digitais marítimas e eficiência operacional.

Área de investimento em tecnologia	Orçamento alocado
Sistemas de navegação digital	US $ 2 milhões
Software de gerenciamento operacional	US $ 1,5 milhão
Aprimoramentos de segurança cibernética	US $ 1,5 milhão

Costamare Inc. (CMRE) - Modelo de negócios: fluxos de receita

Contratos de fretamento de embarcações de longo prazo

A partir do quarto trimestre de 2023, a Costamare Inc. registrou US $ 282,4 milhões em receitas totais de fretamento. A empresa mantém uma frota de 62 contêineres com idade média de 12,1 anos.

Tipo de contrato de fretamento	Número de embarcações	Duração média do contrato
Contratos de longo prazo	45 navios	5,2 anos
Contratos de curto prazo	17 navios	1,8 anos

Receitas de charter de tempo e bareark

Em 2023, a Costamare gerou US $ 198,6 milhões em relação às receitas da Time Charter e Bareboat.

• Taxa média de fretamento diário de tempo: US $ 14.200 por embarcação
• Receita da Carta de Bareboat: US $ 37,5 milhões
• Backlog de fretamento contratado: US $ 1,2 bilhão

Taxas de fretamento de mercado spot

As receitas do mercado à SPOT em 2023 totalizaram US $ 43,2 milhões, representando 15,3% da receita total da Carta.

Tamanho do navio	Taxa de mercado spot (por dia)	Navios no mercado à vista
2.500-4.250 TEU	$12,500	8 navios
4.250-7.500 TEU	$18,300	6 navios

Transações de venda e leaseback de embarcações

Em 2023, as transações de venda de embarcações preenchidas pela Costamare, gerando US $ 124,7 milhões em recursos.

• Número de embarcações vendidas: 5
• Preço de venda média por embarcação: US $ 24,94 milhões
• Receita de Leaseback: US $ 16,3 milhões

Taxas de logística e serviço marítimas

Receitas adicionais relacionadas ao serviço totalizaram US $ 22,1 milhões em 2023.

Tipo de serviço	Receita	Porcentagem da receita total
Gerenciamento técnico	US $ 12,6 milhões	4.5%
Gerenciamento da tripulação	US $ 6,2 milhões	2.2%
Serviços de consultoria	US $ 3,3 milhões	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.