Costamare has completed the final piece of funding for its newbuilding orderbook and stepped back into the sale-and-purchase market to buy three ships that have been locked into long-term contracts.
A European bank has provided a $44m loan over three-years to fund the last 11,000-teu newbuilding in the series, which is nearing completion at Hanjin Subic.
Greg Zikos, chief financial officer at Costamare, said in a statement: “ As of today all of our newbuilding program is fully funded with remaining equity commitments amounting to only $2 million, due in 2018.”
