Costamare Inc. Reports Results for the Third Quarter and Nine-Month Period Ended September 30, 2026

Costamare Inc. announced its unaudited financial results for Q3 and the nine-month period ending September 30, 2026. The company's Chief Financial Officer, Gregory Zikos, highlighted that the company earned a net income of about $88 million for the quarter, with total liquidity standing at $733 million. Zikos revealed that Costamare Inc. has successfully finalized the previously announced bilateral debt refinancing agreements, amounting to $1.3 billion, and anticipates concluding an additional financing arrangement of around $90 million during the fourth quarter.

This will effectively mark the completion of the refinancing program for the company's existing fleet. The agreements come with interest cost savings and no debt maturity until 2030. The market currently sees a low number of idle ships, at less than 1%, indicating a fully employed market. Zikos also pointed out that tight supply and demand dynamics, driven by a shortage of prompt ships and robust cargo demand, are expected to persist.

Regarding charter coverage, 100% of the company's containership fleet is secured for 2026, while 99% is guaranteed for 2027. Contracted revenues have reached approximately $6.0 billion, with a TEU-weighted duration of 5.8 years. Lastly, in terms of Neptune Maritime Leasing, a controlling interest for Costamare Inc., 47 shipping assets have either been funded or are committed, with total investments and commitments surpassing $650 million.