Monaco-based Costamare Bulkers Holdings has entered into a strategic cooperation agreement with Cargill International covering vessel trading, charters, and bunkering.
Under the agreement, Costamare Bulkers will transfer to Cargill the majority of its trading book, which includes chartered-in vessels, cargo transportation commitments, and derivative positions. The company will also charter four supramax vessels to Cargill for four to six months.
The deal also includes a bunkering services agreement with Seascale Energy, a joint venture between Cargill and Hafnia, to cover Costamare Bulkers’ owned and operating fleet.
The parties further agreed to cooperate on vessel efficiency, while exploring potential joint investments in dry bulk assets and other ventures in the sector.
Gregory Zikos, Chief Executive Officer of Costamare Bulkers, said the agreement reduces the company’s exposure to the trading business and helps generate more stable earnings while maintaining its operating platform under CBI.
Jan Dieleman, President of Cargill Ocean Transportation, remarked that the partnership will support Cargill’s fleet growth and strengthen service to customers.
