Costamare Inc. (“Costamare” or the “Company”) recently entered into a new shipbuilding contract with HHIC-PHIL Inc. (Hanjin Heavy Philippines) for the construction of an 11,000TEU vessel, the Costamare executive said. The vessel is expected to be delivered in December 2016. Pursuant to the Framework Agreement with York Capital, the Company holds a 49% equity interest in the relevant vessel-owning entity.
Mr. Gregory Zikos, Chief Financial Officer of Costamare Inc., commented: "Recently we placed an order, together with our partners York Capital, for one additional 11,000 TEU containership vessel, to be built by Hanjin in Philippines. The ship is expected to be delivered in December 2016 and Costamare will own a 49% stake."
"Our joint venture with York has been progressing quite well and since inception we have done deals of US $ 1.1 billion. All investments have been performing well and we are currently in discussions with our partner regarding the extension of the investment period," Zikos said.
Costamare Inc. is a leading international owner of containerships. With a fleet of vessels ranging from about 1,000 TEUs to about 9,500 TEUs capacity, Costamare Inc. serves ocean carriers that demand a high standard of safety and reliability and are, in most cases, among the world's largest liner companies. Costamare Inc. and its predecessors draw on a history of more than 37 years in transportation of goods by sea, with more than 27 years of these in container transportation.
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