Costamare Bulkers has entered into a new agreement with Cargill that includes a bunkering partnership with Seascale Energy, alongside the transfer of trading activities and vessel charters.
Cargill will take over most of Costamare’s trading book, including chartered-in vessels, freight commitments and derivatives positions as per the wider deal.
Costamare will also charter four Supramax bulkers to Cargill for four to six months.
One of the central elements of the deal is a bunkering arrangement with Seascale Energy, the joint supply venture between Cargill and Hafnia launched earlier this year.
Seascale Energy will now provide bunkering services to Costamare’s owned and operated ships.
The two companies will further cooperate on vessel efficiency, decarbonisation projects and explore potential co-investments in bulk carrier assets.
“The Agreement allows us to reduce our exposure in the volatile trading business and generate more stable and predictable earnings, while at the same time maintaining our operating platform under CBI as an integral part of our business model,” Gregory Ziko, CEO of Costamare Bulkers Holdings, said.
