Costamare Inc. is an international owner and operator of containerships. The company provides worldwide transportation of containerized cargoes by chartering its vessels to leading liner companies. As of February 24, 2026, Costamare Inc. maintained a fleet of 79 containerships with an aggregate capacity of approximately 551,000 TEU, including 10 vessels under construction.

The company generates revenue primarily through time charter agreements for its containership fleet. Under these charters, customers pay a fixed daily rate for vessel use while Costamare Inc. covers operating expenses such as crewing, maintenance, insurance, and provisions. Revenue is derived from long-term, fixed-rate charters with financially strong liner companies, aiming to minimize exposure to seasonal demand fluctuations. The company also earns income from its lease financing platform Neptune, which engages in sale and leaseback transactions for various vessel types across the maritime sector.

The company operates through the following segments:

• Containership segment: This segment involves the ownership, operation, and time chartering of cellular containerships to transport containerized cargoes globally. As of February 24, 2026, the segment included 79 vessels in service or under construction, serving major liner companies under long-term charters.

• Lease financing platform segment: This segment is conducted through Neptune, which acquires, owns, and bareboat charters out vessels via wholly-owned subsidiaries. Neptune focuses on building long-term contracts through sale and leaseback transactions in the maritime sector, utilizing bank financing where possible. As of February 24, 2026, Neptune was funding or committed to funding 52 shipping assets, including 22 dry bulk vessels, three tanker vessels, 24 offshore vessels, and three container vessels.

Costamare Inc. operates in a highly competitive container shipping market where charters are secured based on rate, customer relationships, operating expertise, reputation, and vessel specifications. The company competes with other experienced shipping companies, leasing firms, and private equity-backed entrants. Its competitive advantages include a large and diversified fleet of varying TEU capacities, long-standing customer relationships with leading liner companies, and a reputation for reliability and service quality. The firm’s ability to offer flexible commercial solutions across trade routes strengthens its position as a one-stop solution for charterers adapting to shifting logistical needs.

The company’s customers include many of the world’s leading liner companies such as A. P. Moller-Maersk, MSC, Evergreen, Hapag Lloyd, MSC, Yang Ming, ZIM, ONE, OOCL, and CMA CGM. These customers represent the primary source of revenue for the containership segment, with long-term charters forming the core of the business model.