New York-listed Costamare also picked up a second hand vessel as it finished the year over $120m in the black.
Greg Zikos, chief financial officer of the Greek boxship specialist, said Costamare had teamed with a Chinese financial institution to fund five 14,000-teu newbuildings.
“The transaction was on a sale and leaseback basis and finances our pre-delivery instalments to the shipyard, releasing additional equity for further transactions,” Zikos said in the owner’s earnings statement.
It
