Focused on the dry bulk market, strong liquidity and low debt, Costamare Bulkers Holdings Limited, owned by Kostantinos Konstantakopoulos, announced its first financial results after its spin-off from Costamare Inc. in May 2025.
As stated by the company’s CEO, Grigoris Zikos, “Costamare Bulkers is now a fully independent, listed company, with a fleet of 37 privately owned dry bulk vessels and the platform (CBI) that manages an additional 39 vessels through charters.”
Liquidity of 242.3 million
With liquidity of 242.3 million dollars and net debt of just 10 million, the company said it is ready to capitalize on emerging market opportunities. It is already phasing out Handysizes and replacing them with newer, larger-capacity vessels, such as the recent purchase of a Capesize.
In the first half of the year, Costamare Bulkers reported net income of 32.3 million and a net loss of 26.5 million dollars. This loss is partly attributable to the liquidation of old trading positions, which had been created in previous periods. The company’s management pointed out that the emphasis is now on maintaining a more balanced and supportive trading portfolio, which will operate supplementary to the main activity. “The goal is to maintain a balanced trading portfolio,” the CEO of the listed company stressed.
Strong volatility in the Capesize Freight Market
Zikos also highlighted the intense volatility in the Capesize freight market during the second quarter, with strong activity in the Pacific and the Brazil-Asia route. On the Panamax front, freight rates temporarily strengthened due to delayed corn exports from South America. Against this backdrop, Costamare Bulkers stated that it is ready to exploit selective growth opportunities, based on strong fundamentals, limited debt and a coherent fleet renewal strategy.
