CMRE - Costamare Is Well-Positioned For Dry Bulks Recovery

• Costamare performed well throughout the year until it peaked in mid-September - since then, the stock has lost >20% off high.
• This is primarily because the company now has a fairly large fleet of dry bulk carriers and the Baltic Dry Index has fallen sharply since early October.
• I believe that the current decline in BDI, as well as its parabolic rise from September to October, is unsustainable due to ongoing inflation.
• Since CMRE charters its vessels at short-term rates, the stock has a chance to reverse the current downward trend when the market conditions change.
• In addition, the company will see a fairly steady demand for its services over the long term, even with limited steel production in China.

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