Wedoany.com Report-Sept. 30, Costamare Bulkers has signed a comprehensive cooperation agreement with Cargill, aiming to secure steadier earnings while strengthening ties with one of the largest charterers in the dry bulk sector. The New York-listed Greek owner said the deal covers the transfer of most of its trading book to Cargill, including chartered-in tonnage, cargo commitments, and derivative positions. In addition, four supramax vessels will be fixed to Cargill for four to six months.

The agreement extends beyond chartering. Costamare Bulkers will work with Seascale Energy, a joint venture between Cargill and Hafnia, to cover bunkering requirements across its fleet. The companies also plan to collaborate on decarbonisation strategies, efficiency projects, and explore co-investment opportunities in bulk tonnage and related ventures.

Costamare CEO Gregory Zikos said: “We are pleased to announce the agreement with Cargill, a first-class and well-respected partner in the dry bulk sector. The agreement allows us to reduce our exposure in the volatile trading business and generate more stable and predictable earnings, while at the same time maintaining our operating platform under CBI as an integral part of our business model.”

Jan Dieleman, president of Cargill Ocean Transportation, added: “This partnership allows Cargill to better serve its customers as it continues to help us grow our current fleet.”

Costamare Bulkers operates a fleet of 37 owned bulk carriers with a combined capacity of just over 3.1 million dwt, although six vessels are scheduled for sale. Its operating platform, CBI, remains active in chartering, contracts of affreightment, forward freight agreements, and hedging.

The cooperation could also pave the way for future joint ventures in dry bulk shipping and related services. Both firms aim to scale operations in decarbonisation and supply chain efficiency, leveraging their combined expertise to strengthen sustainable and efficient shipping solutions.

This strategic move enables Costamare Bulkers to reduce exposure to freight market volatility, gain more predictable revenue streams, and maintain operational continuity. It also positions Cargill to expand its service capabilities and support customers with reliable bulk shipping solutions.

Overall, the agreement represents a long-term collaboration that integrates chartering, bunkering, decarbonisation, and potential co-investments, reflecting both companies’ commitment to efficiency, sustainability, and growth in the global dry bulk market.