Costamare is "favourably positioned" for a continuation of strong container and dry bulk markets, according to chief financial officer Gregory Zikos.
The New York-listed company has just nine containerships coming off charter between now and the end of next year when it will have 37 dry cargo vessel operating in the spot market.
Management of the company had been "favourably positioning our company should the currently strong market conditions continue", Zikos said.
The comments come after the New York-listed company reported stronger results.
Costamare logged net income of $107m for the three months to the end of September, up from $17.4m in the previous corresponding quarter in 2020.
Voyage revenues doubled in the period to $216m from $107m.
Increasingly high rates
All of Costamare's containership chartered in the third quarter had been fixed at increasingly high levels of hire, Zikos said.
"The container market rebound that began in the second half of last year is continuing, drawing strength from favorable supply and demand dynamics," he said.
"The availability of containerships in the market has been stretched thin due to high cargo volumes and strong tonnage demand, that has been exacerbated by port congestion and an overall shortage of equipment."
Similarly, the company has just three of 37 bulkers acquired since June still to be delivered.
The company took delivery of 20 bulkers in the third quarter, bringing the number of delivered dry bulk vessel to 34.
"All our dry bulk vessels are employed in the spot market, yielding very healthy returns," Zikos said.
As TradeWinds has reported, Costamare remains in a position to secure additional dry bulk tonnage with a new financing agreement.
The Costis Constantakopoulos-led company secured an additional "hunting license" facility for financing future dry bulk acquisitions worth up to $150m with a European financial institution.
That means the company has liquidity of $303m as of the end of the third quarter.
Costamare has recently concluded a number of lucrative containership sales.
The sales of the 5,982 Venetiko (built 2003), 4,992-teu Zim Shanghai (built 2002) and 4,476-teu Ensenada (built 2001) have netted the company a capital gain of $36m.
A further gain will be logged with the sale of the 4,992 Zim New York (built 2002) later this year.
The company has also secured a lucrative forward fixtures of the 5,642-teu Glen Canyon (built 2006).
The vessel has been chartered for 39-to-42 months at $62,500 per day, with estimated delivery in the first and second quarters of 2022.
That helped lift the average time-charter duration for Costamare's containership fleet to more than four years.
