$CMDB

Costamare Bulkers Holdings Ltd

CIK:0002033535|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
REVENUES:
Voyage revenue	$ 0	$ 597,223	$ 0
Total voyage revenue		597,223	0	$ 0
EXPENSES:
Charter-in hire expenses		(325,510)	0	0
Vessels' operating expenses		(57,615)	0	0
General and administrative expenses		(6,782)	0	0
Management and agency fees - related parties (Note 3)		(19,638)	0	0
General and administrative expenses - related parties (Note 3)		(3,869)	0	0
Amortization of dry-docking and special survey costs (Note 6)		(5,206)	0	0
Depreciation (Note 5)		(28,410)	0	0
Gain / (loss) on sale of vessels, net (Note 5)		(11,456)	0	0
Foreign exchange gains		(303)	0	0
Operating loss		(30,607)	0	0
OTHER INCOME / (EXPENSES):
Interest income		3,136	6	0
Interest and finance costs, net (Note 11)	0	(9,696)	0	0
Other, net		(13,116)	0	0
Gain / (loss) on derivative instruments, net (Note 13)		12,931	0	0
Total other expenses, net		(6,745)	6	0
Net loss	$ 0	$ (37,352)	$ 6	$ 0
Earnings / (Losses) per common share, basic and diluted (Note 12) (in dollars per share)	$ 0	$ (2.28)	$ 1.28	$ 0
Weighted average number of shares, basic and diluted (in shares)	0	16,374,555	4,754	0
Nonrelated Party [Member]
REVENUES:
Voyage revenue		$ 437,457	$ 0	$ 0
EXPENSES:
Voyage expenses		(161,357)	0	0
Related Party [Member]
REVENUES:
Voyage revenue		159,766	0	0
EXPENSES:
Voyage expenses		$ (7,684)	$ 0	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash Flows From Operating Activities:
Net loss:	$ (37,352)	$ 6	$ 0
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation	28,410	0	0
Amortization and write-off of financing costs	881	0	0
Amortization of deferred dry-docking and special survey costs	5,206	0	0
Equity based payments from Parent	2,125	0	0
Gain on derivative instruments, net	(5,265)	0	0
(Gain)/ loss on sale of vessels, net	11,456	0	0
Changes in operating assets and liabilities:
Accounts receivable and margin deposits	32,331	(2)	0
Due from related parties	6,663	0	0
Inventories	25,690	0	0
Insurance claims receivable	(2,110)	0	0
Prepayments and other	17,838	0	0
Accounts payable	(2,175)	0	0
Due to related parties	(3,663)	0	0
Accrued liabilities	(2,235)	0	0
Unearned revenue	(2,520)	0	0
Other liabilities	5,876	0	0
Dry-dockings	(5,570)	0	0
Accrued charter revenue	2	0	0
Net Cash provided by / (used in) Operating Activities	75,588	4	0
Cash Flows From Investing Activities:
Proceeds from the settlement of insurance claims	427	0	0
Cash acquired from acquisition of subsidiaries (Note 1)	22,805	0	0
Vessel acquisition and advances/Additions to vessel cost	(31,692)	0	0
Proceeds from the sale of vessels, net	83,003	0	0
Net Cash provided by / (used in) Investing Activities	74,543	0	0
Cash Flows From Financing Activities:
Proceeds from long-term debt	15,300	0	0
Repayment of long-term debt	(182,502)	0	0
Payment of financing costs	(103)	0	0
Cash advance from parent company	0	2,100	0
Cash contribution in relation to the Spin-Off (Note 1)	(230,565)	0	0
Net Cash provided by/ (used in) Financing Activities	63,260	2,100	0
Net increase/ (decrease) in cash, cash equivalents and restricted cash	213,391	2,104	0
Cash, cash equivalents and restricted cash at beginning of the period	2,104	0	0
Cash, cash equivalents and restricted cash at end of the period	215,495	2,104	0
Supplemental Cash Information:
Cash paid during the period for interest	8,608	0	0
Non-Cash Investing and Financing Activities:
Right-of-use assets obtained in exchange for operating lease obligations	$ 36,269	$ 0	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents (Note 2)	$ 211,845	$ 4
Margin deposits (Note 16)	10,825	0
Inventories (Note 4)	14,217	0
Fair value of derivatives (Notes 16 and 18)	268	0
Insurance claims receivable	4,785	0
Prepayments and other assets	24,668	0
Total current assets	293,649	6
FIXED ASSETS, NET:
Vessels, net (Note 5)	565,547	0
Total fixed assets, net	565,547	0
NON-CURRENT ASSETS:
Deferred charges, net (Note 6)	18,357	0
Operating leases, right-of-use assets (Note 8)	41,667	0
Restricted cash, non-current (Note 2)	3,650	2,100
Total assets	929,423	2,106
CURRENT LIABILITIES:
Current portion of long-term debt, net of deferred financing costs (Note 7)	14,995	0
Operating lease liabilities, current portion (Note 8)	39,155	0
Accrued liabilities	9,732	0
Unearned revenue (Note 9)	11,911	0
Fair value of derivatives (Notes 16 and 18)	825	0
Other current liabilities	15,385	0
Total current liabilities	123,176	2,100
NON-CURRENT LIABILITIES:
Long-term debt, net of current portion and deferred financing costs (Note 7)	140,599	0
Total non-current liabilities	140,599	0
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock (par value $0.0001, 100,000,000 preferred shares authorized, as of December 31, 2024 and 2025. Nil and 235 Series B Preferred shares issued and outstanding as of December 31, 2024 and 2025, respectively.) (Note 11)	0	0
Common stock (par value $0.0001, 1,000,000,000 common shares authorized as of December 31, 2024 and 2025. 10,000 and 24,362,000 shares issued; and 10,000 and 24,180,472 shares outstanding as of December 31, 2024 and 2025, respectively) (Note 11)	2	0
Additional paid-in capital	702,992	0
Retained earnings / (Accumulated deficit)	(37,346)	6
Total stockholders' equity	665,648	6
Total liabilities and stockholders' equity	929,423	2,106
Nonrelated Party [Member]
CURRENT ASSETS:
Accounts receivable, net (Note 3)	22,597	2
NON-CURRENT ASSETS:
Accounts receivable, non-current	5,503	0
CURRENT LIABILITIES:
Accounts payable	26,028	0
Related Party [Member]
CURRENT ASSETS:
Accounts receivable, net (Note 3)	4,444	0
NON-CURRENT ASSETS:
Accounts receivable, non-current	1,050	0
CURRENT LIABILITIES:
Accounts payable	$ 5,145	$ 2,100