Costamare's performance and Container shipping market

Costamare (CMRE) Inc. owns and charters containerships to liner companies worldwide. As of January 27, 2014, it had a fleet of 67 containerships with a total capacity of approximately 438,000 TEU.   

While container shipping market is being overwhelmed from over-supply and high volatility in freight rates, Costamare has found the recipe to increase its market capitalization and gain investor’s trust though a dividend-paying strategy.

CMRE announced its initial public offering on 04/11/2010, since then the company pays dividend each quarter and in advance, the company constantly tries to renew and increase its fleet.

On the side, last year CMRE entered into a joint venture Framework Deed with York Capital Management, a New York-based investment advisor firm, to invest approximately $500 million in equity for the acquisition of container vessels.

The company announced on 27/01/2014 its unaudited financial results for the year ended (31 Dec. 2013). The revenues were $414,249 million while last December were $386,155 million. The Net Income adjusted at $101,551 million while last year were $81,129.

CMRE, Full Size Image Here

Remarkable is the P/E ratio. According to Bloomberg, the current P/E is 13.582, while the estimated P/E (12/2014) is 10.935.

Container Supply Growth, Full Size Image Here

Lastly, Danaos Corporation (Container ship Operator) has jumped approximately 60% last month.

DAC, Full Size Image Here

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CG Finance Blog contributor Petros Mpantavis has no position in any stocks mentioned. CG Finance Blog has no position in any of the stocks mentioned.

Petros Mpantavis 

Shipping Finance Enthusiast 

Shipping, Trade and Transport Student

University of the Aegean

peter.badavis@gmail.com

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