Costamare Bulkers edged slightly higher by 1.8% as solid fleet renewal progress and derisking of legacy trades partially offset market volatility and geopolitical risks; however, gains remain modest reflecting cautious investor sentiment amid ongoing industry uncertainty.

• Adjusted net income reached $12.4 million ($0.51 per share) for Q1 2026, with net income of $9.9 million ($0.41 per share).
• Majority of legacy trading portfolio transferred to Cargill, substantially derisking the balance sheet; full exit expected by year-end.
• Fleet renewal advanced with sale of 2011 Capesize vessel (realizing ~$7 million capital gains), acquisition of a 2018 Ultramax, and delivery of newbuilding Kamsarmax vessels chartered on long-term profitable contracts.
• Company is net cash positive by approximately $127 million, supported by $270 million in cash against $140 million debt, positioning for countercyclical growth.
• Market conditions remain volatile with geopolitical disruption (Strait of Hormuz closure) impacting exports, though certain segments like Capesize and Panamax showed relative strength due to commodity demand and trade flows.