Costamare Inc. is a leading international owner of containerships. Through its subsidiaries Costamare Inc. (and, unless otherwise indicated or the context requires, its subsidiaries, together with Costamare Inc., "Costamare ") owns a fleet of 71 vessels (the "Costamare fleet ") aggregating approximately 462,000 TEU, including ten newbuild containerships on order. Sixteen of our containerships, including ten newbuilds, have been acquired pursuant to the Framework Agreement with York Capital Management by vessel-owning entities in which we hold up to 49% equity interest.----Costamare serves liner companies that demand a high standard of safety and reliability and are, in most cases, among the world's largest liner companies. Costamare and its predecessors draw on a history of more than 41 years in transportation of goods by sea, with more than 30 years of these in container transportation.----Costamare's strategy is to time charter the Costamare fleet to a geographically diverse, financially strong and loyal group of leading liner companies. In fact, most major international liner companies have been customers of Costamare Inc. Among Costamares Inc.'s customers of recent years have been A.P. Moller-Maersk A/S, MSC Mediterranean Shipping Company S.A., Evergreen Marine,Cosco Container Lines Co., Ltd. and Hapag-Lloyd.----The Costamare fleet can meet a variety of customer needs. The high-quality containerships of various sizes (including feeder, panamax and post-panamax containerships) serve short, medium and long-haul routes on a variety of geographical trades.----The Costamare fleet has an excellent reputation for smooth, interruption-free service, approaching utilisation levels of 100% (excluding scheduled maintenance).----While providing a high level of service to its customers, Costamare also manages its business with the utmost concern for the safety of its people and the environment.----Costamare Inc. owns one of the industry's largest fleets of containerships for charter. The Costamare fleet of containerships includes containerships of various sizes and has been acquired to meet customers' needs. The Costamare fleet of containerships is able to operate on East-West, North-South and intra-regional trade routes, giving Costamare Inc. increased flexibility in re-chartering its containerships.----The Costamare fleet of containerships has been constructed by reputable shipyards and is carefully maintained. New and older vessels alike are subject to careful condition-monitoring and preventive maintenance by Costamare Inc.'s managers.----In addition to the structural quality of the said containerships, the whole of the Costamare fleet of containerships is crewed by well-qualified crews and experienced officers.
