"During the fourth quarter the company delivered solid results," said Costamare chief financial officer Gregory Zikos.
"On the chartering side, we continue to employ our vessels, having chartered a total of eight ships during the last three months.
Regarding our financing arrangements, we have refinanced a loan facility which was originally expiring in 2018. Under the new agreement, the balloon payment of $30 million due in 2018, has been extended to be amortised over a three-year period until 2021," he said.
"As mentioned in the past, our goal is to strengthen the company and enhance long-term shareholder value. At the same time we are actively looking at new transactions in a distressed asset value environment," said Mr Zikos.
"Regarding the dividend and the Dividend Reinvestment Plan currently in place, members of the founding family, as has been the case since the inception of the plan, have decided to reinvest in full the fourth quarter cash dividends," he said.
The company agreed to extend the charter of the 2000-built, 4,890-TEU containerships Oakland Express, Singapore Express and Halifax Express with Hapag- Lloyd at a daily rate of $5,500 starting from December 1, 2016.
The duration of the extension shall be for a period of seven to 13 months for two of the vessels and three to 13 months for the other vessel at the charterers' option.
It also agreed to charter the 1998-built, 3,842-TEU Itea to ACL, for consecutive round voyages for a period expiring at the charterers' option during the period from March 17, 2017 through April 21, 2017, at a daily rate of $6,000.
It also agree to extend the charter of the 2004-built, 2,586-TEU Lakonia with Evergreen for a period of four to 10 months, starting from February 4, at a daily rate of $5,800.
Costamare also agreed to charter the 1999-built, 2,526-TEU Elafonisos to MSC for a period expiring at the charterers' option during the period from December 17, 2016 to April 2, 2017, starting from December 2, 2016, at a daily rate of $5,100.
The company also made eight other similar agreements with Sea Consortium, MSC and Hapag-Lloyd and ACL.
In December the company finalised the refinancing of a credit facility secured with the 2006-built, 9,469-TEU Cosco Guangzhou, which was originally expiring in 2018. The new $32 million facility entered into with a European financial institution, will be payable in variable instalments over five years starting from 2017.
"On the chartering side, we continue to employ our vessels, having chartered a total of eight ships during the last three months.
Regarding our financing arrangements, we have refinanced a loan facility which was originally expiring in 2018. Under the new agreement, the balloon payment of $30 million due in 2018, has been extended to be amortised over a three-year period until 2021," he said.
"As mentioned in the past, our goal is to strengthen the company and enhance long-term shareholder value. At the same time we are actively looking at new transactions in a distressed asset value environment," said Mr Zikos.
"Regarding the dividend and the Dividend Reinvestment Plan currently in place, members of the founding family, as has been the case since the inception of the plan, have decided to reinvest in full the fourth quarter cash dividends," he said.
The company agreed to extend the charter of the 2000-built, 4,890-TEU containerships Oakland Express, Singapore Express and Halifax Express with Hapag- Lloyd at a daily rate of $5,500 starting from December 1, 2016.
The duration of the extension shall be for a period of seven to 13 months for two of the vessels and three to 13 months for the other vessel at the charterers' option.
It also agreed to charter the 1998-built, 3,842-TEU Itea to ACL, for consecutive round voyages for a period expiring at the charterers' option during the period from March 17, 2017 through April 21, 2017, at a daily rate of $6,000.
It also agree to extend the charter of the 2004-built, 2,586-TEU Lakonia with Evergreen for a period of four to 10 months, starting from February 4, at a daily rate of $5,800.
Costamare also agreed to charter the 1999-built, 2,526-TEU Elafonisos to MSC for a period expiring at the charterers' option during the period from December 17, 2016 to April 2, 2017, starting from December 2, 2016, at a daily rate of $5,100.
The company also made eight other similar agreements with Sea Consortium, MSC and Hapag-Lloyd and ACL.
In December the company finalised the refinancing of a credit facility secured with the 2006-built, 9,469-TEU Cosco Guangzhou, which was originally expiring in 2018. The new $32 million facility entered into with a European financial institution, will be payable in variable instalments over five years starting from 2017.