Monaco-based shipping company Costamare Inc. (CMRE) on Wednesday, February 7, reported fourth-quarter net income of $104.4 million.

The company said it had net income of 82 US cents per share. Earnings, adjusted for non-recurring gains, came to 68 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

Costamare Bulkers Inc. (“CBI”) has currently fixed a fleet of 51 dry bulk vessels on period charters, consisting of: 32 Newcastlemax/Capesize vessels and 19 Kamsarmax vessels.