ST HELIER, Jersey, March 16, 2023 (GLOBE NEWSWIRE) — Neptune Maritime Leasing Limited (“Neptune Leasing” or “Company“) is pleased to announce that Costamare Inc., (“Costamare”) (NYSE: CMRE ), has agreed to become a lead investor in Neptune Leasing through an investment of up to $200 million.
Costamare will appoint three additional members to Neptune Leasing’s board, including Vassilis Mantsavinos, an experienced shipping banker.
Nicoletta Fusca, Chief Investment Officer of the LATSCO family office, said: “We are very pleased that Costamare has chosen Neptune Leasing as the vehicle for their investment in the sector. We have also committed to significantly increase our initial investment in Neptune Leasing. Harris and the team have made excellent progress since Latsco FO anchored the platform in early 2021.”
Harris Antoniou, Founder and CEO of Neptune Leasing, commented: “We are honored that another leading shipping investor has chosen to support our leasing services platform for the maritime community. Both of our key investors share Neptune Leasing’s objective of building a high-quality shipping portfolio, diversifying across different shipping sectors and pursuing stable returns at acceptable levels of risk. Neptune’s business model is not competitive, but symbiotic to bank financing, and we seek cooperation with commercial lenders. Finally, I welcome Vassilis Mantsavinos as well as the other new members to the Board of Directors.”
Gabriela Kindert, non-executive director and chairman of the board added: “Marine leasing has an attractive capacity to generate income, downside protection and limited correlation with other investment products. Given the large fragmented market and the growing demand for credit, marine leasing offers a suitable entry point for investors. The support Neptune Leasing enjoys from two leading strategic investors with interests in shipping enables the company to pursue its mission and growth goals. I welcome Costamare’s new experienced representatives to the Board of Directors.”
About Neptune Maritime Leasing
Neptune Maritime Leasing was established in 2021. It is a growth-oriented marine leasing platform with a mission to provide ship owners with access to a flexible financial instrument and investors with secure access to an underinvested asset class with attractive real returns. Our strategy is to buy high-quality assets and build a portfolio of long-term contracts through sale and leaseback transactions in various maritime sectors. We are committed to providing attractive, long-term, risk-adjusted and responsible returns to our investors by promoting global trade and economic growth through responsible support of the maritime industry and by making a positive contribution to the environment and society as a whole.
About Latsco Family Office
Latsco Family Office (“LFO”), the first lead investor in Neptune Leasing, is the family office of Marianna J. Latsis, with offices in Athens, Geneva and London. LFO manages strategic investments in shipping, energy, infrastructure, real estate and fintech, has investment expertise across asset classes and multiple strategic partnerships. The Latsis family has been one of the world’s most prominent shipping investors since the 1940s through the Latsco Shipping Group.
About Costamare Inc.
Costamare Inc. is one of the world’s leading owners and suppliers of container ships and bulk carriers for charter. The company has 49 years of history in the international shipping industry and a fleet of 72 container ships with a total capacity of approximately 531,000 TEU (including one vessel we have agreed to sell) and 45 bulk carriers with a total capacity of approximately 2,436,000 DWT. The company also has a dry bulk operating platform that charters dry bulk vessels, enters into shipping contracts and uses hedging solutions. Four of our containerships were acquired under the York Framework Agreement from joint ventures owning ships in which we hold a minority interest. The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE,” “CMRE PR B,” “CMRE PR C ”, “CMRE PR D” and “CMRE PR E”, respectively.
For more information please contact:
Founder and CEO
Neptune Maritime Leasing Limited
Email: [email protected]