This is a routine annual report filing. Monitor the company's next quarterly update for progress on the CBI platform realignment and any impact from the suspended U.S./China port fees, which are set to be re-evaluated in November 2026.
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Executive Summary
Costamare Bulkers filed its 2025 Annual Report (Form 20-F) via a 6-K, reporting a net loss of $37.4M on total voyage revenue of $597.2M for FY2025. The filing details the company's first full year as a standalone entity post-spin-off, including the realignment of its CBI operating platform via a Strategic Cooperation Agreement with Cargill and a net loss on vessel sales of $11.5M. The annual report is routine and provides a comprehensive overview of the company's financial position and operations, with no new material event that would move the stock.
Key Facts
- Total voyage revenue for FY2025 was $597.2 million.
- Net loss for FY2025 was $37.4 million.
- The company sold nine vessels in FY2025, recording an aggregate net loss of $11.5 million.
- As of December 31, 2025, the company had $211.8 million in cash and cash equivalents and $157.6 million in outstanding bank debt.
- The company signed a Strategic Cooperation Agreement with Cargill in September 2025 to transfer the majority of its CBI operating platform trading book.
- The company had 24,180,472 common shares outstanding as of December 31, 2025.
Financial Impact
Net loss of $37.4 million on $597.2 million total voyage revenue for FY2025.
Risk Factors
- Exposure to volatile dry bulk charter rates and spot market fluctuations.
- Geopolitical risks including trade protectionism (U.S./China port fees) and conflicts in the Red Sea.
- Significant related-party transactions with entities controlled by the majority shareholder.
- Substantial debt levels with financial covenants that could restrict operations.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (CMDB) — Batch item 1 | 0001140361-26-032939 |
| Document: ny20077579x1_ex99-1.htm | 0001140361-26-032939 |
| Document: ny20077579x1_6k.htm | 0001140361-26-032939 |
| Document: 0001140361-26-032939-index-headers.html | 0001140361-26-032939 |
| Document: 0001140361-26-032939-index.html | 0001140361-26-032939 |
| Document: 0001140361-26-032939.txt | 0001140361-26-032939 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | 6-K | $21.32 | awaiting T+20 | — | $20.21 (−5.21%) |
Aug 18, 2026 10w ago | 6-K | $19.39 $23.44 | ▲ +20.89% | ▲ +22.63% | $20.21 (+4.23%) |
Aug 14, 2026 10w ago | 6-K | $18.23 $24.21 | ▲ +32.80% | ▲ +34.79% | $20.21 (+10.86%) |
Aug 3, 2026 12w ago | Press Release | $20.14 $20.47 | ▲ +1.64% | ▲ +0.40% | $20.21 (+0.35%) |
Jul 31, 2026 12w ago | Press Release | $19.56 $20.52 | ▲ +4.91% | ▲ +1.92% | $20.21 (+3.32%) |
Jul 17, 2026 14w ago | 6-K | $18.81 $18.23 | ▼ −3.08% | ▼ −7.53% | $20.21 (+7.44%) |
Jun 2, 2026 21w ago | 6-K | $16.56 $18.21 | ▲ +9.96% | ▲ +11.53% | $20.21 (+22.04%) |
May 13, 2026 23w ago | 6-K | $18.90 $17.60 | ▼ −6.88% | ▼ −6.27% | $20.21 (+6.93%) |
May 8, 2026 24w ago | Press Release | $19.34 $16.51 | ▼ −14.63% | ▼ −14.66% | $20.21 (+4.50%) |
Mar 30, 2026 30w ago | Press Release | $15.47 $17.00 | ▲ +9.89% | ▲ +0.47% | $20.21 (+30.64%) |
US Market Status
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