Adjusted net profit of the second quarter was $21.6 million and of the first half was $46.8 million, drawn on voyage revenues of $96 million for the second quarter and $196.1 million for the first six months, according to the company`s press release.
Its adjusted EBITDA (earnings before interest, taxes and amortisation) for the second quarter was $61 million, and for the first half $128.1 million.
Chief financial officer Gregory Zikos said in May the company received delivery of the 1998-built 3,842-TEU vessels Koroni and Kyparissia for $24.9 million. The two ships have been chartered to Taiwan`s Evergreen to replace the other two 1984-built, 2,922-TEU vessels, the Genius I and the Gifted, both bound for scrapping at $12.3 million.
Also, Costamare has signed a deal with Singapore`s APL to time charter the 1991-built, 1,068-TEU Horizon for between three and six months at a daily rate of $6,000. The vessel was delivered to APL at the end of May 2012.
Mr Zikos said the company has agreed to buy the 2001-built 1,078-TEU Stadt Luebeck from an insolvency administrator over the assets of a German KG, at $11.3 million. The vessel is expected to be delivered by the end of July 2012, and has chartered to CMA CGM until the end of August 2012 at a daily rate of $5,800.
"We have reduced our re-chartering risk for the coming years. The charters for the vessels coming out of employment during the remaining of 2012 and 2013 account for two per cent and four per cent of our 2012 and 2013 contracted revenues respectively," said Mr Zikos.