GlobeNewswire·Aug 3, 2026, 5:21 AM ET

Costamare Bulkers Holdings Limited Reports Results for the Second Quarter and Six-Month Period Ended June 30, 2026

CMDB

Costamare Bulkers Holdings Limited reported Q2 2026 adjusted net income of $9.8 million ($0.40 per share) & net income of $5.2 million ($0.21 per share).
The company achieved total liquidity of $331.5 million as of June 30, 2026, with cash exceeding debt by $108.9 million.
An agreement was reached to sell the 2009-built, 55,469 DWT dry bulk vessel Bermondi, with the transaction expected to conclude in Q3 2026.
The operating platform transaction with Cargill International S.A. was completed, focusing on 26 third-party owned vessels including two Capesize & 24 Kamsarmax/Panamax types.
The owned fleet consists of 30 dry bulk vessels with approximately 2.7 million DWT capacity, comprising 6 Capesize, 7 Kamsarmax, 9 Ultramax, & 8 Supramax vessels.
During the six-month period, the company recorded a gain of $7.7 million from the sale of vessels Clara & Miracle.
Total voyage revenue was $111.6 million for Q2 2026 & $223.1 million for the six-month period ended June 30, 2026.
CEO Gregory Zikos noted heightened market volatility, robust Capesize rates after a mid-year correction, & strong Panamax & Supramax market conditions.
The company took delivery of the Astros vessel (60,297 DWT) during Q2 2026 & chartered-in an average of 23.1 third-party vessels during the quarter.
General & administrative expenses were $2.5 million for Q2 2026, including $1.1 million in non-cash components related to share issuances.
Loss on derivative instruments was $0.8 million for Q2 2026, while a net gain of $1.5 million was recorded for the six-month period.
The operating platform transition reduced balance sheet risk by finalizing the transfer of the legacy trading portfolio to Cargill.