Costamare Bulkers Holdings reported net income of $5.2 million for the second quarter ended June 30, 2026. Total voyage revenue reached $111.6 million during the period, while adjusted net income amounted to $9.8 million, or $0.40 per share.
For the first six months of 2026, the company recorded net income of $15.1 million on voyage revenue of $223.1 million. Total liquidity stood at $331.5 million at the end of the quarter, with cash exceeding debt by $108.9 million.
During the quarter, Costamare took delivery of the dry bulk vessel Astros and completed a transaction with Cargill International covering its operating platform. The platform currently focuses on Kamsarmax vessels and manages 26 third-party-owned dry bulk ships, comprising two Capesize vessels and 24 Kamsarmax or Panamax vessels.
The company also agreed to sell the 2009-built dry bulk vessel Bermondi, which has a carrying capacity of 55,469 DWT. The transaction is expected to be completed in the third quarter of 2026.
Costamare operates an owned fleet of 30 dry bulk vessels with a combined carrying capacity of approximately 2.7 million DWT. Chief Executive Officer Gregory Zikos said the company completed the transfer of its legacy trading portfolio to Cargill, reducing balance sheet risk.
Commenting on market conditions, Zikos said the quarter was marked by heightened volatility, particularly in the Capesize segment, driven by geopolitical uncertainty, energy market turbulence, and weather-related disruptions. He added that the Panamax market remained supported by firm Capesize earnings and Chinese seaborne coal demand, while supramax rates continued a gradual upward trend.