Independent journal on economy and transport policy
13:18 GMT+1
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Costame records record quarterly financial results
Acquired another 21 bulk rinks
July 28, 2021
In the April-June period of this year Greek Costamare, which has a fleet of 81 container carriers and 37 bulk carriers, rental vessels at other companies, reported record economic results from revenues that amounted to 166.8 millions of dollars, with an increase of 49.1% percent on the second quarter of 2020. Operating profit and net profit were 82.2 million and 90.6 million compared with both negative signs for -63.9 million and -76.2 million in the second quarter of last year, the company said.
"The recovery of the container market that started in the second half of last year has continued in the first half of this year," Costamare's chief financial officer, Gregory Zikos, said. this year, gaining strength thanks to favorable dynamics of demand and supply. Strong demand from consumers, low inventory levels and supply chain bottlenecks have all contributed to record rental fees and longer term rental periods. "All our chartered carriers in the quarter have been rented at an increasingly high rate," Zikos said.
Referring to the recent entry of the Costamare into the bulk carrier ship sector, Zikos announced the acquisition of additional 21 bulk carriers that will increase the texture of this fleet to 37 ships of the average age of ten years and within reach lorda between 32mila and 85mila tonnes. Zikos has specified that 14 refurbishings have been taken so far, while the remaining ones will be delivered by the end of this year.
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In the April-June period of this year Greek Costamare, which has a fleet of 81 container carriers and 37 bulk carriers, rental vessels at other companies, reported record economic results from revenues that amounted to 166.8 millions of dollars, with an increase of 49.1% percent on the second quarter of 2020. Operating profit and net profit were 82.2 million and 90.6 million compared with both negative signs for -63.9 million and -76.2 million in the second quarter of last year, the company said. 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
