Founded in 1975, Costamare Inc. (CMRE) is a renowned global entity in the shipping industry, owning one of the largest container fleets in the world. Headquartered in Athens, Greece, this publicly traded company specializes in maritime transport services, particularly chartering its vessels to prominent liner companies.
Although it began as a family-run operation, Costamare has grown exponentially over the decades. Today, they own a fleet of over 77 container ships with a total capacity of more than half a million TEUs, a unit that equates to approximately 20-foot-long shipping containers.
Costamare Inc. primarily operates in one niche - chartering its fleet to container liner companies. These are long-term, fixed-rate contracts that provide a steady and reliable income stream for the company, whilst offering their clients operational flexibility. The company's prominent client base includes major household-name international corporations such as Maersk, MSC (Mediterranean Shipping Company), Evergreen Marine Corporation, Hapag-Lloyd and Yang Ming Marine Transport Corporation.
The success of Costamare stems from its comprehensive and broad services in the container shipping industry. These services include but are not limited to newbuilding program management, ship recycling, procurement and technical services. With these specialized services, Costamare proves itself to be a trailblazer in the global shipping industry.
Over the years, Costamare Inc. has continuously demonstrated resilience in adapting to changing economic climates. Amid the global slowdown, volatile fuel prices, and fluctuations in global trade volumes, Costamare has managed to maintain a steady and strong operating performance, thanks to its sound business model and proactive management of its fleet.
The company's dominance in the industry is further evidenced by its enviable market capitalization, which stood at $1.5 billion in 2021. Further, in February 2022, it announced a quarterly dividend for its shareholders, further cementing its reputation as a reliable and profitable enterprise.
Furthermore, Costamare Inc. has shown commitment to environmental sustainability and social responsibility. They strictly comply with the International Safety Management (ISM) Code, and are part of the United Nations Global Compact, committing to upholding human, labour rights and environmental standards.
In conclusion, Costamare Inc. is a leading player in the international shipping industry, pioneering in the container shipping segment. Synonymous with reliability, profitability, and sustainability, Costamare continues to sail on the seas of success, providing a valuable service to global trade.