The 20-F filing is a routine annual report with no new material catalysts. Traders should monitor the company's ability to re-charter vessels as charters expire, particularly the 4 vessels expiring in 2026, and watch for the impact of trade protectionism and geopolitical risks on charter rates. The next key event to watch is the company's Q1 2026 earnings release for any changes in guidance or operational trends.
Price Chart
Executive Summary
Costamare Inc. filed its 2025 Annual Report on Form 20-F, reporting a decrease in voyage revenue to $846.7 million from $864.5 million in 2024, and a decline in net income from continuing operations to $396.5 million from $407.3 million. The filing also details the company's fleet composition, charter coverage, and significant risks related to trade protectionism, geopolitical conflicts, and regulatory changes. The filing is routine and provides a comprehensive overview of the company's financial health and operational status without any material new events that would significantly impact the stock price.
Key Facts
- Voyage revenue decreased 2.1% to $846.7 million in 2025 from $864.5 million in 2024.
- Net income from continuing operations was $396.5 million in 2025, down from $407.3 million in 2024.
- As of February 24, 2026, the company had 79 containerships with an aggregate capacity of approximately 551,000 TEU.
- The company had $1.5 billion in outstanding indebtedness as of December 31, 2025.
- The company's fixed-term charters represent an aggregate of approximately $3.6 billion of contracted revenue as of February 24, 2026.
- The company completed the spin-off of its dry bulk business, Costamare Bulkers, on May 6, 2025.
- The company has 10 newbuild containerships under contract with deliveries expected between Q2 2027 and Q4 2028.
- The company has invested $182.2 million in Neptune Maritime Leasing Limited as of February 24, 2026.
- The company paid $55.0 million in common stock dividends and $20.9 million in preferred stock dividends in 2025.
- The company's fleet utilization was 99.6% in 2025.
Financial Impact
Voyage revenue decreased by $17.8 million (2.1%) year-over-year. Net income from continuing operations decreased by $10.8 million (2.6%).
Risk Factors
- Trade protectionism and tariffs, particularly U.S.-China tensions, could reduce global trade and demand for container shipping.
- Geopolitical conflicts, including the Red Sea crisis, could disrupt shipping routes and increase costs.
- Oversupply of containership capacity could put downward pressure on charter rates.
- Regulatory changes, including environmental regulations and port fees, could increase operating costs.
- The company's high debt levels could limit financial flexibility and increase vulnerability to market downturns.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001140361-26-032386 |
| Document: ny20077578x1_ex99-1.htm | 0001140361-26-032386 |
| Document: ny20077578x1_6k.htm | 0001140361-26-032386 |
| Document: 0001140361-26-032386-index-headers.html | 0001140361-26-032386 |
| Document: 0001140361-26-032386-index.html | 0001140361-26-032386 |
| Document: 0001140361-26-032386.txt | 0001140361-26-032386 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $15.10 | awaiting T+20 | — | $13.93 (−7.75%) |
Oct 6, 2026 20d ago | Press Release | $15.10 | awaiting T+20 | — | $13.93 (−7.75%) |
Oct 1, 2026 25d ago | 6-K | $15.23 | awaiting T+20 | — | $13.93 (−8.54%) |
Oct 1, 2026 25d ago | Press Release | $15.23 | awaiting T+20 | — | $13.93 (−8.54%) |
Aug 12, 2026 10w ago | 6-K | $14.16 $15.11 | ▲ +6.71% | ▲ +8.61% | $13.93 (−1.62%) |
Jul 27, 2026 13w ago | 6-K | $15.62 $15.58 | ▼ −0.26% | ▼ −3.55% | $13.93 (−10.82%) |
Jul 27, 2026 13w ago | Press Release | $15.62 $15.58 | ▼ −0.26% | ▼ −3.55% | $13.93 (−10.82%) |
Jul 13, 2026 15w ago | 6-K | $15.46 $14.43 | ▼ −6.66% | ▼ −9.85% | $13.93 (−9.90%) |
May 20, 2026 22w ago | 6-K | $26.35 $26.05 | ▼ −1.14% | ▼ −1.47% | $13.93 (−47.13%) |
Apr 29, 2026 25w ago | 6-K | $26.50 $26.62 | ▲ +0.45% | ▼ −5.60% | $13.93 (−47.43%) |
US Market Status
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