Costamare and York Capital Snag Two Seconhand Boxships

Greek container ship owner Costamare Inc. has bought two secondhand vessels and their respective charters together with York Capital as part of the company’s initiative to actively look for chances in the seconhand and newbuilding market.

Costamare and York Capital acquired the 2001-built, 1,550 TEU Arkadia for USD 6 million, and the 1998-built, 2,472 TEU Helgoland Trader for USD 6.5 million.

Costamare holds 49% equity in both ships, with York Capital controlling the remaining 51%.

Following its delivery on September 9, the Arkadia was chartered out to Taiwan’s Evergreen for a period of two years at a daily rate of USD 10,600.

The Helgoland Trader, currently on charter with Maersk Line at a daily rate of USD 8,750, is expected to be delivered not later than April 30, 2016.

Costamare reported USD 105.4 million net income for the first nine months of 2015, compared to USD 84.3 million reported for the same period a year earlier.