Costamare Inc. (CMRE) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, ladies and gentlemen, and welcome to the Casa Mare, Inc. conference call on the second quarter, 2025 financial results. We have with us Mr. Gregory Zingos, Chief Financial Officer of the company. At this time, all participants are in a listen-only month. There will be a presentation followed by a question and answer session, at which time, if you wish to ask a question, if you wish to ask a question, please press the strong key followed by zero on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today, Thursday, July 31, 2025. 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. Zingos. Please go ahead. Thank you, and good morning, ladies and gentlemen. During the second quarter of the year, the company generated net income of about $99 million. In May, we have successfully completed the screen-off of Casa Mare Parkes, which encompasses the own drive-by fleet, as well as the control of the 68 containers, as well as the control of the next maritime fleet. In July, we ordered four new British containers from a training shipyard, each one of approximately 3,100 T.U. capacity. The vessels are expected to be delivered between the second and fourth quarters of 2027. Upon delivery, they will commence an eight-year time charter with a first-class company. At the same time, we drafted two 6,500 T.U. containers for a three-year period, and then the forward basis commencing from Q1 and Q2, 2036. The effective actions resulted in an increase in contracted revenues of about $310 ...