Costamare Inc. reported its unaudited financial results for the fourth quarter and the year ended December 31, 2024. The company reported a full-year 2024 net income available to common stockholders of $290.7 million ($2.44 per share) and adjusted net income of $329.7 million ($2.76 per share). For the fourth quarter of 2024, net income available to common stockholders was $29.7 million ($0.25 per share) and adjusted net income was $82.3 million ($0.69 per share).
Costamare has forward fixed 12 containerships for periods ranging from 16 to 38 months, generating $332.6 million in incremental revenue since the third quarter 2024 earnings release. 96% of the company's containership fleet is fixed for 2025, and 69% is fixed for 2026. Contracted revenues for the containership fleet are approximately $2.4 billion, with a TEU-weighted duration of 3.4 years.
In the dry bulk sector, Costamare entered into over 50 chartering agreements since the Q3 2024 earnings release. The company also acquired the dry bulk vessels Magnes, Alwine, and August, while selling the Discovery and agreeing to sell the Rose. Costamare refinanced/financed 36 dry bulk vessels through four bilateral term loan facilities totaling $339.3 million, fully prepaid €100 million in unsecured bonds, and secured a $100 million hunting license agreement.
Costamare Bulkers Inc. (CBI) has fixed a fleet of 51 dry bulk vessels on period charters. Costamare also holds a controlling interest in Neptune Maritime Leasing Limited (NML), with a current investment of $123.3 million.