Costamare Bulkers (NYSE: CMDB) shifts bulk trading book to Cargill

Rhea-AI Filing Summary

Costamare Bulkers Holdings Limited entered into a Strategic Cooperation Agreement with Cargill International S.A.. The company will transfer to Cargill the majority of its operating platform trading book, including most third-party chartered-in vessels, cargo transportation commitments and derivative positions, subject to counterparty consents. The net consideration for this transfer is expected to be immaterial to Costamare Bulkers.

The company believes this move will reduce its exposure to the volatile trading business and lead to more stable and predictable earnings while keeping its operating platform under Costamare Bulkers Inc. as a core part of its model. Costamare Bulkers and Cargill also plan broader cooperation in dry bulk, including bunker procurement, decarbonisation and vessel efficiency projects, and four additional Supramax time charters of owned vessels for four to six months.

After the transfer, a smaller book of third-party chartered-in vessels will remain under Costamare Bulkers Inc. Separately, Jens Jacobsen resigned as a director and Chief Commercial Officer of the company, and as a director of Costamare Bulkers Services ApS, on September 26, 2025.

Insights

Maritime sector and capital markets analyst

Costamare Bulkers is exiting most trading exposure while deepening a strategic tie with Cargill.

The Agreement moves the majority of Costamare Bulkers’ operating platform trading book to Cargill, including most third-party chartered-in vessels, cargo commitments and derivative positions. Management characterizes the net consideration as immaterial, suggesting the deal is driven more by risk profile and business mix than by immediate financial proceeds.

The company states that the change is intended to reduce exposure to the volatile trading business and support more stable, predictable earnings, while continuing to operate its platform through Costamare Bulkers Inc. Additional cooperation on bunker procurement, decarbonisation and vessel efficiency, plus four new Supramax time charters for four to six months, indicates an ongoing commercial partnership in dry bulk rather than a full exit.

The remaining third-party chartered-in fleet is now more concentrated, with index-linked capesize charters extending into 2026 and one smaller vessel redelivering in Q4 2025. The resignation of Chief Commercial Officer and director Jens Jacobsen shortly before this strategic shift is noteworthy, but the excerpt does not provide reasons or quantify operational impact, so any investor conclusions would rely on future disclosures.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2025

Commission File Number: 001-42581

COSTAMARE BULKERS

HOLDINGS LIMITED

(Translation of registrant’s name into English)

7 rue du Gabian, MC 98000 Monaco
 (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F   ☒ Form 40-F   ☐

INCORPORATION BY REFERENCE

The information contained in this Report on Form 6-K shall be incorporated by reference into our registration statement on Form F-3, as filed with the U.S. Securities and Exchange Commission on May 30, 2025 (File No. 333-287685), to the extent not superseded by information subsequently filed or furnished (to the extent we expressly state that we incorporate such furnished information by reference) by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.

EXHIBIT INDEX

99.1 Press Release, dated September 29, 2025: Costamare Bulkers Holdings Limited Announces Strategic Cooperation Agreement with Cargill International SA

Monaco, September 29, 2025 – Costamare Bulkers Holdings Limited (“Costamare Bulkers” or the “Company”) (NYSE: CMDB) announced today that it has signed a Strategic Cooperation Agreement (the “Agreement”) with Cargill International S.A. (“Cargill”).

Pursuant to the Agreement, the Company has agreed to transfer to Cargill the majority of its operating platform trading book, including a majority of its third party vessels currently chartered-in by Costamare Bulkers Inc. (“CBI”), cargo transportation commitments and derivative positions, subject to the agreement of the relevant counterparties for each charterparty, cargo transportation commitment and derivative position. The net consideration related to the transfer of the trading book described above is expected to be immaterial to the Company.

The Company believes that the Agreement will reduce its exposure in the volatile trading business and generate more stable and predictable earnings, while at the same time maintaining the operating platform under CBI as an integral part of its business model.

The Company and Cargill have also agreed to enter into additional commitments to further develop their strategic relationship in the dry bulk sector, including an agency agreement in respect of bunker procurement and an agreement in respect of decarbonisation and vessel efficiency strategies and implementing decarbonisation projects. Cargill has also agreed to charter-in four additional Supramax vessels from the Costamare Bulkers’ owned fleet on a time charter basis for a period of four to six months. Additionally, the Company and Cargill have agreed to explore future opportunities for joint investment in dry bulk assets and other dry-bulk business ventures, as well as other potential business opportunities in the dry bulk sector.

After giving effect to the transfer of the vessels to Cargill, the remaining CBI fleet chartered-in from third parties on period time charter will include the following:

	Vessel Name	Year Built	Capacity (DWT)	Charter Hire -In Rate	Earliest Redelivery Quarter/ Year
1	SHANDONG PROSPERITY	2021	211,103	Index-Linked plus Fixed Amount	Q3 2026
2	SHANDONG INNOVATION	2021	210,989	Index-Linked plus Fixed Amount	Q4 2026
3	SHANDONG HAPPINESS	2021	210,938	Index-Linked plus Fixed Amount	Q4 2026
4	SHANDONG MIGHTINESS	2021	210,896	Index-Linked plus Fixed Amount	Q3 2026
5	SHANDONG MISSION	2021	210,800	Index-Linked plus Fixed Amount	Q4 2026
6	SHANDONG RENAISSANCE	2022	210,800	Index-Linked plus Fixed Amount	Q4 2026
7	GRAMPUS CHARM	2013	82,937	Fixed Amount	Q4 2025

Jens Jacobsen has tendered his resignation as a director and the Chief Commercial Officer of the Company, and as a director of Costamare Bulkers Services ApS, on September 26, 2025.

Forward-Looking Statements

This report contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could”, “expect” and similar expressions. You should not place undue reliance on these statements. These statements are not historical facts but instead represent only the Company’s beliefs regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. In particular, the Agreement with Cargill includes a pricing adjustment mechanism to account for developments during the execution of the transactions based on future market conditions, which could result in changes to the total net consideration owed thereunder.  While the impact of this adjustment is not currently anticipated to be significant, it could be more significant if charter rates in the dry bulk sector change materially before December 31, 2025, when the transactions are expected to be finalized.  For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company’s Registration Statement on Form 20-F (File No. 001-42581).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: September 29, 2025

	COSTAMARE BULKERS HOLDINGS LIMITED
	By:	/s/ Gregory G. Zikos
		Name:	Gregory G. Zikos
		Title:	Chief Executive Officer

FAQ

What strategic agreement did Costamare Bulkers (CMDB) sign with Cargill?

Costamare Bulkers signed a Strategic Cooperation Agreement with Cargill International S.A. covering the transfer of most of its operating platform trading book and broader cooperation in the dry bulk sector.

What assets is Costamare Bulkers transferring to Cargill under the agreement?

The company will transfer to Cargill the majority of its operating platform trading book, including most third-party vessels chartered-in by Costamare Bulkers Inc., related cargo transportation commitments and derivative positions, subject to counterparties’ agreement.

How does Costamare Bulkers expect the agreement with Cargill to affect its earnings profile?

Costamare Bulkers believes the agreement will reduce its exposure to the volatile trading business and help generate more stable and predictable earnings, while keeping the operating platform under Costamare Bulkers Inc. as an integral part of its business model.

What additional collaborations are planned between Costamare Bulkers and Cargill?

Beyond the trading book transfer, the parties plan an agency agreement for bunker procurement, an agreement on decarbonisation and vessel efficiency strategies, four additional Supramax time charters for four to six months, and exploration of future joint investments and other dry bulk business opportunities.

What changes occur to Costamare Bulkers Inc.’s chartered-in fleet after the Cargill transaction?

After the transfer of vessels to Cargill, a reduced CBI fleet of third-party chartered-in ships remains on period time charter, including several large capesize vessels with index-linked hire rates and redelivery dates in 2026, and one smaller vessel with redelivery in Q4 2025.

Which executive resigned from Costamare Bulkers in September 2025?

Jens Jacobsen resigned on September 26, 2025, as a director and Chief Commercial Officer of Costamare Bulkers Holdings Limited and as a director of Costamare Bulkers Services ApS.