Costamare Emerges as Top Bidder in Cape Sale

Greek Shipping Giant Affirms Dry Bulk Fleet Expansion with Strategic Acquisition


Costamare, a Greek shipping company listed on the New York Stock Exchange, has reaffirmed its strategic plans within the dry bulk sector, solidifying its position as a major player through its recent acquisition. The company emerged as the highest bidder in one of the few reported cape sales this month, demonstrating its commitment to expanding its fleet.

Led by Konstantinos Konstantakopoulos, Costamare successfully secured the acquisition of the 12-year-old vessel, Frontier Unity, built by Koyo Dock, for approximately $35 million. This transaction was facilitated through a deal with Nissen Kaiun, highlighting the strong relationships within the maritime industry. Notably, this marks the second cape sale between Costamare and Nissen Kaiun this year, underscoring the mutual trust and collaboration between the two entities. Furthermore, the acquisition of Frontier Unity represents Costamare’s fourth cape purchase within a span of just nine months, showcasing its aggressive growth strategy and confidence in the dry bulk market.

In addition to Costamare’s acquisition, the maritime industry witnessed other significant cape transactions this month. Golden Ocean, led by John Fredriksen, acquired the nine-year-old vessel HL Harmony from South Korea’s H-Line for $43 million, further emphasizing the dynamic nature of the global shipping market.

These strategic moves by industry leaders like Costamare and Golden Ocean reflect a proactive approach to capitalize on market opportunities and strengthen their positions amidst evolving market dynamics within the maritime sector.

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