Costamare has signed contracts for 16 newbuildings and agreed to acquire two second-hand vessels, securing long-term charters worth $2.8 billion, reports Saint Petersburg's SeaNews.

The newbuildings include twelve 9,200 TEU ships and four 3,100 TEU vessels, all to be delivered between the fourth quarter of 2027 and the second quarter of 2030. Upon delivery, the ships will commence charters with Cosco Shipping lasting 15 years for the larger units and 8 years for the smaller ones.

Chief Financial Officer Gregory Zikos stated that the company generated net income of about $75 million in the first quarter of 2026, with liquidity of $645 million. Financing for the newbuildings has been arranged with two Chinese institutions for up to 15 years.

Costamare also agreed to acquire two second-hand 5,600 TEU vessels built in 2001. The acquisitions, expected to close in the fourth quarter of 2026, will be followed by 42-month charters with a leading liner operator.

As a result, total contracted revenues have reached $6.2 billion, with a remaining charter duration of 6.1 years. Management has recommended raising the quarterly dividend from 11.5 cents to 12.5 cents per share, citing stronger cash flows and profitability.

Mr. Zikos mentioned that the dividend increase will not affect the company's ability to grow despite volatile market conditions, as Costamare continues to renew its fleet and expand its partnership with Cosco.