Costamare Takes Delivery of MSC Athens

Costamare Inc. has taken delivery of a newbuild MSC Athens, the first in a series of ten 8.827 TEU containerships that were ordered from Sungdong Shipbuilding and Marine Engineering, in South Korea.

Mr. Gregory Zikos, Chief Financial Officer of the Company said:

“We are pleased to announce the delivery of the MSC Athens, the first of our ten newbuildings on order. The MSC Athens has commenced its 10-year time charter with MSC. The delivery of the vessel is the first step of our expansion plan based on solid contracted cash flows. We expect this addition, along with the remaining nine vessels currently on order and scheduled for delivery within the next 10 months, to contribute in excess of $1.3 billion of contracted revenues throughout the duration of their charters.”

The vessel has been constructed under the Project management and Technical Supervision of Watermark Consultants Inc.

The vessel has commenced its 10-year time charter with MSC.

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Shipbuilding Tribune Staff, March 21, 2013; Image: wmc