Costamare Bulkers Holdings Limited (CMDB) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Standing by, ladies and gentlemen, and welcome to the Costa Mera Bulkers Holdings Limited Conference Call on the First Quarter 2026 Financial Results. We will have with us Mr. Gregory Sigos, Chief Executive Officer of the company. At this time, all participants will be in a listen-only mode. There will be a presentation followed by a question and answer session. At this time, if you wish to ask a question, please press star then one on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today, Wednesday, May 13th, 2026. We would like to remind you that this conference call contains forward-looking statements. Please take a moment to read slide number two of the presentation, which contains the forward-looking statements. And I will now pass the floor to your speaker today, Mr. Zikos. Please go ahead. Thank you and good morning, ladies and gentlemen. During the first quarter of the year, Kostamare Markets generated a management income of $12.4 million. As of today, we have successfully transferred the majority of the company's legacy trading portfolio pursuant to our deal with Kaggle, effectively de-reaching our balance sheet. We expect that our trading platform will be clear of the remaining legacy trades by year-end. As part of our 15-year program, we recently concluded the sale of one 2011 built KHI vessel, and the acquisition of one 2018 built Ultramax. At the same time, we accepted the inquiry of finding a new building customer that started in for a minimum period of five years. The vessel has been charted out at a profitable rate for a minimum period of 11 months. We totaled a cash of about $270 million, a debt of circa $140 million, the company is net cash positive, positioning us favourably to ...