Costamare is paying Mediterranean Shipping $55 million for a 5,000 20-foot equivalent units container vessel the Greek container shipowner will charter back to the ocean carrier.
The arrangement is the second MSC purchase-charter deal has made this month, following last week’s $55 million agreement with Box Ships Inc.
Costamare will charter the 2003-built vessel to Geneva-based MSC for 63 months at a daily rate of $28,000 upon delivery, expected between August 15 and Sept. 30.
Costamare plans to finance the acquisition with cash from operations and from an undrawn credit line.
The Athens-based, NYSE-listed company also extended three time charters, two with MSC and one with Hapag-Lloyd, and signed two new charter agreements with MSC.
The new chartering arrangements are worth approximately $181 million of contracted revenues with an average duration of around five years.
Costamare said it has fixed all but one of its ships for 2011.
The company controls a fleet of 59 container ships with a total capacity of 325,000 TEUs, including 10 new-built vessels of about 89,000 TEUs capacity.