New York listed Costamare says the framework agreement first signed in 2013 will now run until May 2024. The investment phase will end in May 2020.
Greg Zikos, chief financial officer of Costamare, says the partnership has made investments of $1.1bn since its formation.
The extension was always likely having been raised in the previous quarter but comes at a time when York has exited its asset owning position in the tanker market following a string of sales.-
Costamare revealed the renewed pact as it booked a second quarter profit of $44.34m, passing the $27.38m in the same period a year ago.
Its earnings per share of $0.46 passed Wall Street consensus expectations by seven cents.
The shipowner continues to work on what would be the first boxship MLP listing and has filed updated papers to press on with the offering when the right market conditions arise.
