Costamare's CFO Greg Zikos On The Containership Market (Podcast)

Dec. 12, 2019 6:30 AM ETCostamare Inc. (CMRE)CPLP, DAC, GSL, NMM, ATCO12 Comments5 Likes
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The Investing Edge


  • Greg Zikos, CFO of Costamare, joined Value Investor's Edge Live.
  • The discussion covered overall containership markets, looking at demand concerns along with forward orderbook levels and the potential for LNG-fuel ships.
  • It also went over CMRE's approach to discliplined growth, their leverage targets, and how they're thinking about their dividend.

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Greg Zikos, CFO of Costamare (NYSE:CMRE) joined J Mintzmyer and Value Investor's Edge to discuss the containership markets and specific company prospects and capital allocation priorities. This interview and discussion is relevant for anyone with containership investments or interests, including Capital Product Partners (CPLP), Danaos Corp. (DAC), Global Ship Lease (GSL), Navios Maritime Containers (NMCI), and Seaspan Corp. (SSW).

Topics covered

  • 1:25 minute mark - Market review: Strong rates vs. Trade War Concern.
  • 5:45 - What is your scrubber plan for IMO 2020? Approach for capital spending?
  • 9:45 - What are the biggest risks/concerns for this market?
  • 12:15 - How does the supply-side look? Concerned about newbuilds?
  • 14:15 - Have you seen any interest in LNG-fueled ship transactions?
  • 16:10 - What is the most attractive area to invest in for containerships?
  • 18:35 - What are your current leverage levels and long-term targets?
  • 23:15 - What are your priorities for capital allocation? Dividends?
  • 26:35 - Ready to raise the dividend yet, or need more growth?
  • 28:55 - How are the longer-term charter markets shaping up?

This article was written by

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The Investing Edge is a podcast channel on Seeking Alpha that features shows from different Seeking Alpha authors, with a focus on their unique investing style. Authors will speak with CEOs and industry experts, break down key market stories and topics, and share insights on how they research new investments.The first two shows on The Investing Edge are:Value Investor's Edge Live, hosted by J Mintzmyer of Value Investor's Edge. The show will feature J's conversations with publicly traded shipping company CEOs, sector experts, and fellow deep value investors about their companies and investing approaches. - This will now be posted on the SA Marketplace Roundtable Channel - Razor's Edge, hosted by SA podcast host Daniel Shvartsman and Seeking Alpha author Akram's Razor of The Razor's Edge. The two will talk about ideas from Akram's Razor's current watch list or portfolio, including specifics on the ideas as well as discussion about the research process and the background itself.Stay tuned for the launch of this channel on October 3rd, and watch out for new shows on The Investing Edge over coming months.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: J Mintzmyer is long CPLP, GSL, and NMCI. Greg Zikos is employed by Costamare. Nothing on this podcast should be taken as investment advice.

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