Costamare reported a net income from continuing operations of $371 million for the year ending December 31, 2025. The company stated the results reflect the spin-off of its dry bulk business, which was completed on May 6, 2025.
For the fourth quarter ending December 31, 2025, the shipping firm recorded a net income of $72.6 million. This figure represents a decrease from the $88.6 million reported for the corresponding period in 2024.
Voyage revenue for the full year reached $846.7 million, the company reported. The firm attributed a 2.1 per cent decrease in annual revenue to lower accounting revenue for two vessels and decreased charter rates for certain ships.
The company stated it entered into 12 new forward fixtures for its containership fleet with a weighted duration of six years. It added that these agreements are expected to generate incremental contracted revenues of $940 million.
Costamare noted that 96 per cent of its containership fleet is fixed for 2026 and that 92 per cent of the capacity is also fixed for 2027.
Gregory Zikos, Chief Financial Officer of Costamare, said that the charter market remains strong due to a shortage of ships. Zikos remarked, “Total contracted revenues have reached $3.4 billion, with a remaining time charter duration of 4.5 years.”
Costamare increased its investment commitment in Neptune Maritime Leasing to $247.8 million. The platform currently supports 54 shipping assets representing total investments and commitments of more than $665 million, the company noted.
The firm secured bilateral financing for the pre- and post-delivery of two 3,100 TEU vessels. Costamare stated it has no significant debt maturities until 2027.
During the year, the company took delivery of the secondhand vessel Maersk Puelo. This ship has a capacity of 6,541 TEU.
The shipping firm also reported that its container vessels Kure and Kowloon were free of debt as of February 17, 2026. Other unencumbered assets include Vulpecula, Volans, and Virgo.
