New York-listed Greek shipowner Costamare Bulkers has agreed to sell the oldest vessel in its owned fleet, continuing a strategy of shedding ageing tonnage as part of an ongoing fleet renewal programme. The move aligns with a broader industry trend in which owners are disposing of older, less fuel-efficient tonnage ahead of tightening environmental regulations, including the International Maritime Organization's Carbon Intensity Indicator (CII) framework that grades vessels on operational efficiency.

The company, a dry bulk division of Costamare Inc. — itself better known as one of the world's largest containership owners — is led by Chief Executive Officer Gregory Zikos. It is divesting the 2009-built supramax bulker Bermondi. Delivery to the unnamed buyer is expected during the third quarter. While the identity of the purchaser and the financial terms of the transaction were not disclosed, brokerage estimates have placed the sale price at approximately $15.3 million.

The 55,469 deadweight-tonne vessel was constructed at Mitsui's Tamano shipyard in Japan and is the only pre-2010 ship among Costamare Bulkers' 30 owned vessels. Japanese-built ships typically command premiums in the secondhand market due to their reputation for build quality and fuel efficiency. Its removal will leave the company with a fleet of 29 bulkers totalling just over 2.6 million dwt.

The remaining owned fleet is composed of six capesizes, seven kamsarmaxes, nine ultramaxes, and seven supramaxes. Costamare Bulkers currently has 23 of its owned vessels on period employment, divided between 12 index-linked charters and 11 fixed-rate contracts. Separately, the company's CBI operating platform controls an additional 26 chartered-in bulkers, predominantly kamsarmaxes and panamaxes.

This latest disposal follows the earlier sale this year of the 2008-built supramax Clara and the 2011-built capesize Miracle. As part of the same renewal effort, Costamare Bulkers also acquired the 2018-built Japanese ultramax Astros, formerly known as Koushun. The pattern of selling vessels aged 15 years or older while acquiring newer tonnage reflects a common fleet-rejuvenation approach among listed bulk shipping companies seeking to reduce operating costs and regulatory exposure.

Source: Splash247