Costamare Bulkers Expands Fleet with New Acquisition and Vessel Sales
New York-listed Costamare Bulkers, a prominent Greek shipping company, is actively renewing its fleet by acquiring a modern ultramax vessel while simultaneously selling off two older ships. The company has finalized an agreement to purchase the 2018-built dry bulk vessel, *Koushun*, which will be renamed *Astros*. This acquisition is expected to be delivered between the first and second quarters of 2026. The *Astros* is valued at approximately $28 million and is currently owned by Japan’s Kasuga Shipping, with operational management handled by the Danish chartering group Norden.
In conjunction with this acquisition, Costamare Bulkers is also divesting itself of two older vessels. The first is the 2011-built capesize vessel, *Miracle*, which has a deadweight tonnage (dwt) of 180,643. The sale of *Miracle* is anticipated to close in the first half of 2026, generating around $7 million for the company, in addition to approximately $4.7 million in operating profits since its acquisition in February 2024. The second vessel, the 2008-built supramax *Clara*, with a dwt of 56,557, has also been sold, yielding an estimated gain of $0.7 million alongside $3.2 million in profits since its purchase in August 2021.
Costamare Bulkers Accelerates Ship Sales Ahead of Chinese New Year
Strategic Fleet Management and Market Positioning
The recent transactions reflect Costamare Bulkers’ strategic approach to fleet management, focusing on maintaining a competitive edge in the market. The company has reported that the combined sales of the capesize and supramax vessels have generated nearly $8 million in capital gains, alongside close to $8 million in operating profits since these vessels were acquired prior to the company’s spin-off from Costamare.
Following these transactions, Costamare Bulkers will have a total of 31 dry bulk vessels in its fleet, with an overall capacity of approximately 2.8 million dwt. The fleet composition includes seven capesize vessels, seven kamsarmaxes, nine ultramaxes, and eight supramaxes. Management has indicated that the latest sale-and-purchase activities are part of a broader strategy to capitalize on solid market fundamentals. By trimming older tonnage and selectively adding younger ships, the company aims to enhance its operational efficiency and competitiveness in the dry bulk shipping sector.
