Costamare has fixed 12 vessels on long-term charters worth $940 million, boosting its revenue backlog to $3.4 billion.
Greek container shipowner Costamare has fixed 12 vessels on long-term forward charters worth about US$940 million, reported Singapore's Splash 247. The deals extend employment coverage up to eight years and lift the contracted revenue backlog to around US$3.4 billion.
The Konstantinos Konstantakopoulos-led group stated that the fixtures push fleet employment to 96 percent for 2026 and 92 percent for 2027. The backlog now carries a TEU-weighted average duration of 4.5 years as of mid-February.
The charters include five 14,400 TEU ships fixed for minimum eight-year periods, four 5,000 TEU vessels, and two 9,400 TEU ships on three-year terms, plus one 4,200 TEU unit also on three years. The weighted average duration across all 12 ships is about six years.
Chief Financial Officer Gregory Zikos mentioned that the forward charters will commence over the next three years and provide strong earnings visibility. The fleet is now fully employed for 2026, giving the New York-listed owner firm forward cover.
Costamare is also advancing fleet renewal with six 3,100 TEU newbuildings at Zhoushan Changhong International Shipyard, due between 2027 and early 2028. This series is backed by eight-year charters to a major liner operator.
Earlier this year, market sources linked Costamare to a dozen 9,200 TEU newbuilds, though the company has not confirmed this information. The group currently operates 69 containerships with a capacity of about 520,000 TEU, excluding newbuildings.
