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Costamare Bulkers Holdings Limited Reports Results for the Third Quarter and Nine-Month Period Ended September 30, 2026

CMDB
  • Costamare Bulkers Holdings Limited reported net income of $16.6 million ($0.68 per share) for Q3 2026 and $31.7 million ($1.31 per share) for the nine-month period ended September 30, 2026.
  • Adjusted net income for Q3 2026 was $12.4 million ($0.51 per share), while the nine-month adjusted net income reached $34.6 million ($1.43 per share).
  • The company maintained a strong balance sheet with $141.7 million in cash exceeding debt as of September 30, 2026, resulting in total liquidity of $358.2 million.
  • No significant loan maturities are scheduled until Q4 2031 following the completion of planned refinancing.
  • The owned fleet consists of 29 vessels with a total capacity of 2.6 million DWT, while the operating platform includes 32 chartered-in vessels.
  • Approximately 80% of owned fleet days in Q4 2026 and 52% in Q1 2027 are expected to be covered by fixed-rate charters.
  • The company sold the 2009-built Supramax Bermondi in Q3 2026, recognizing a gain of approximately $2.5 million.
  • New loan facilities totaling $133 million were signed to refinance existing obligations, extending debt maturities from 2029 to between Q4 2031 and Q1 2032.
  • Upon completion of refinancing, the unencumbered fleet is projected to increase from 3 to 11 vessels.
  • The operating platform, CBI, focuses on Kamsarmax/Panamax vessels with shorter-duration employment to maintain flexibility.
  • Total voyage revenue for Q3 2026 was $131.5 million, a decrease from the prior year period due to fleet downsizing following the transaction with Cargill.
  • Dry bulk market volatility during the quarter was driven by typhoon-related congestion in China, strong Guinean bauxite exports, and Black Sea disruptions.
  • The company became an independent publicly traded entity on May 6, 2025, following its spin-off from Costamare Inc.
Company
Costamare Bulkers Holdings Limited
Keywords
NYSE:CMDB, Costamare Bulkers Holdings Limited