Costamare Bulkers Holdings Limited reported its fourth‑quarter and full‑year 2025 financial results, posting an adjusted net loss of $1.7 million for the quarter and total revenue of $218.5 million. The company’s operating cash flow for the quarter was $18.9 million, and free cash flow stood at $13.4 million, underscoring the cash‑generating strength of its owned‑fleet operations.
The results come a few months after the company completed its spin‑off from Costamare Inc. on May 6, 2025, and represent the first full‑year report as an independent entity. Management highlighted that the adjusted loss was largely driven by one‑time expenses related to platform realignment and the strategic cooperation with Cargill, which involved transferring most of the company’s trading book. Excluding those items, the underlying operational performance remained solid.
Fleet renewal continues to be a central focus. Costamare Bulkers has sold older vessels such as the 2011‑built Capesize Miracle and the 2008‑built Supramax Clara, while acquiring the 2018‑built Koushun. These moves aim to shift the fleet toward younger, more fuel‑efficient tonnage and support the company’s transition to a Kamsarmax‑centric strategy.
Management noted that market conditions across major dry‑bulk segments remain favorable. Strong exports, improved sentiment, and robust demand for coal and minor bulks have supported rates in the Capesize, Panamax, and Supramax markets. The company’s average fleet age of about 13 years and average size near 91,800 DWT provide a solid platform for capturing these opportunities.
Investors responded positively to the company’s strategic direction, fleet renewal progress, and strong liquidity position, which includes roughly $226 million in cash and a negative net debt of about $70.7 million. The company’s robust financial flexibility is expected to underpin its ongoing renewal program and strategic initiatives.
The announcement marks the second quarterly earnings release since the spin‑off, reinforcing the company’s commitment to delivering transparent and timely financial information to its shareholders.
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