Costamare Bulkers Holdings Limited Announces Strategic Cooperation Agreement with Cargill International SA

Core Viewpoint - Costamare Bulkers Holdings Limited has signed a Strategic Cooperation Agreement with Cargill International S.A. to enhance stability and growth in the dry bulk sector [1][2][3]. Company Overview - Costamare Bulkers is an international owner and operator of dry bulk vessels, with a fleet of 37 vessels totaling approximately 3,103,000 dwt [5]. - The company operates a dry bulk platform (CBI) that engages in chartering, contracts of affreightment, forward freight agreements, and hedging solutions [5]. Agreement Details - The Agreement includes transferring the majority of Costamare's trading book, which consists of chartered-in vessels, cargo transportation commitments, and derivative positions to Cargill [7]. - Costamare will charter four Supramax vessels to Cargill for a duration of four to six months [7]. - The company will enter into a bunkering services agreement with Seascale Energy, a joint venture between Cargill and Hafnia, covering its owned and operating fleet [7]. - The Agreement also involves collaboration on decarbonization and vessel efficiency strategies, as well as exploring joint investment opportunities in dry bulk assets and ventures [7]. Leadership Commentary - The CEO of Costamare Bulkers expressed satisfaction with the partnership, highlighting Cargill as a respected partner in the dry bulk sector and the potential for further cooperation and co-investment [3]. - Cargill's President noted that the partnership will enhance service to customers and support fleet growth [4].