SSW - Costamare: Solid Q4 & Growth Time To Buy
Image Credit: Costamare Homepage
Costamare Overview
Costamare (CMRE) is a leasing company focused on the container shipping segment. CMRE holds a variety of ships spanning different sizes and ages from feeders to ULCVs. Costamare controls the world’s 2nd largest publicly-traded independent container fleet, second only to Seaspan (SSW). They deal almost exclusively with investment grade counterparties, including MSC, Evergreen, COSCO, and Maersk. CMRE added six secondhand ships, scrapped four old vessels (1x 1994-built, 3x 1998-built), added five newbuilds (mid-2020 to early-2021), and bought out a major equity interest in five