Costamare Bulkers, the New York-listed Greek bulk carrier owner led by Gregory Zikos, has agreed to sell its oldest vessel, the 2009-built supramax Bermondi, according to Splash247. The transaction is the latest step in a fleet renewal drive that has already seen the disposal of two other bulkers and the addition of a newer ultramax, Splash247 reported.
Vessel Sale and Deal Value
Splash247 reported that Costamare Bulkers is offloading the 55,469 dwt supramax, which was built at Mitsui's Tamano yard in Japan. Delivery to the new owner is expected during the third quarter, according to the report. The buyer and financial terms were not disclosed, Splash247 said, but brokers have placed the deal at around $15.3m. The Bermondi is the only pre-2010 ship among Costamare Bulkers' 30 owned vessels, according to Splash247, making its disposal a notable step in reducing the average age of the fleet.
Fleet Composition After Disposal
According to Splash247, the disposal will leave the company with 29 bulkers totalling just over 2.6m dwt. The remaining owned fleet comprises six capesizes, seven kamsarmaxes, nine ultramaxes and seven supramaxes, Splash247 reported.
| Vessel type | Count |
|---|---|
| Capesize | 6 |
| Kamsarmax | 7 |
| Ultramax | 9 |
| Supramax | 7 |
| Total | 29 |
The company's commercial reach extends well beyond these owned ships. Splash247 reported that Costamare Bulkers has 23 of its owned vessels on period employment, split between 12 index-linked charters and 11 fixed-rate deals. Its CBI operating platform controls another 26 chartered-in bulkers, mostly kamsarmaxes and panamaxes, according to Splash247.
Chartering and Operating Platform
The period employment split shows a balanced approach to chartering, with 12 vessels earning index-linked rates and 11 on fixed-rate deals, according to Splash247. The CBI platform's 26 chartered-in vessels, predominantly kamsarmaxes and panamaxes, provide additional capacity that can be deployed as market conditions dictate, Splash247 reported. This layered structure means the sale of the Bermondi reduces the owned fleet by one unit, but the overall commercial fleet remains substantial.
Recent Fleet Renewal Moves
The latest sale follows the disposal earlier this year of the 2008-built supramax Clara and the 2011-built capesize Miracle, according to Splash247. Costamare Bulkers also added the 2018-built Japanese ultramax Astros, formerly named Koushun, as part of the same fleet renewal drive, Splash247 reported.
| Vessel | Year built | Type | Action |
|---|---|---|---|
| Bermondi | 2009 | Supramax | Sold; Q3 delivery |
| Clara | 2008 | Supramax | Disposed earlier this year |
| Miracle | 2011 | Capesize | Disposed earlier this year |
| Astros (ex-Koushun) | 2018 | Ultramax | Added |
These transactions reflect the fleet renewal drive described by Splash247, with the company continuing to clear out ageing tonnage while adding newer ships. The 2018-built Astros is substantially newer than the vessels being disposed, according to Splash247.
Watch list
The third-quarter delivery of the Bermondi is the next milestone in the fleet renewal programme, according to Splash247. After the transaction closes, Costamare Bulkers' owned fleet will stand at 29 vessels totalling just over 2.6m dwt, Splash247 reported. Charterers and brokers will be watching for any further disposals or acquisitions as the company pursues its fleet renewal strategy, Splash247 noted. The CBI platform's 26 chartered-in bulkers remain an available source of capacity for charterers in the dry bulk segment, according to Splash247.
Sources:
