Greece: Costamare Takes Over Newbuild MSC Athens

Costamare Inc. announced the delivery of MSC Athens, a 8,827 TEU vessel which was built by Sungdong Shipbuilding and Marine Engineering, in South Korea. The vessel has commenced its 10-year time charter with MSC.

“We are pleased to announce the delivery of the MSC Athens, the first of our ten newbuildings on order,” said Mr. Gregory Zikos, Chief Financial Officer of the Company. “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.”

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Costamare, March 20, 2013