A US-listed owner sees no plans to impair seven ships whose market value has crashed.
Greek owner Costamare has acknowledged that the market value of seven boxships in its fleet has dropped below their carrying value but it has no cause to declare impairments on the vessels, according to a new public filing.
The company’s disclosure appears to be another case of a new campaign by the US Securities and Exchange Commission (SEC) to compel owners to declare what are called “incipient impairments” even in cases where a formal writedown is not mandated under accounting rules.
Indeed,
