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03 June 2020 The on-line newspaper devoted to the world of transports 21:19 GMT+2

October 24, 2019

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Original news
Costamare announces an ulterior increase of the economic results pulled ahead from the post-Panamax

The third trimester has been archived item with a profit clearly of 36,0 million dollars (+156.2%)

In the third trimester of the 2019 revenues of the Costamare Greek they are increased of +36.0% attesting itself to 123,4 million dollars regarding 90,9 million dollars in the same period last year, increase that is generated by the greater number of ships of the fleet of the Greek company mail rental near other marine companies that have been pairs to an average of 60,0 portacontainer in the third trimester of this year regarding 55,8 units in the same period of 2018, increase of the consistency of the used fleet that it is consequence of the nine ships bought from Costamare in the course of according to trimester of 2018 and from the reduction of the number of days outside hire due to the reduction of the periods in which ships of the fleet they have been subordinates to activity of repair or maintenance. The operating profit is piled to 56,3 million dollars (+134.0%) and the profit clearly to 36,0 million dollars (+156.2%).

Evidencing the important increase of the quarterly economic performances the financial director of the Costamare, Gregory Zikos, has specified that in the period the level of the installments of hire for the portacontainer of large-capacity is continued to go up and that the continuous market to being characterized from a limited offer of portacontainer post-Panamax. Zikos has specified that in the course of the third trimester of the 2019 Costamare it has agreed the chartering of 14 ships having benefitted of this increasing trend of the hires and has emphasized that, if this tendency to the rise continues, in the course of the next year, when the periods of chartering in course for 18 finish portacontainer post-Panamax of the fleet, will be the opportunity to fix installments of hire still more profitable.

In the first nine months of this year the revenues have been pairs to 353,6 million dollars, with a rise of +29.0% on the correspondent period of 2018, the operating profit has totaled 123,0 million dollars (+51.5%) and the profit clearly 63,1 million dollars (+32.8%).

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