Costamare Bulkers is a dry bulk shipping company that owns and operates a fleet of vessels transporting commodities — primarily iron ore, coal, and grain — across global trade routes. The company was spun off from Costamare Inc. in May 2025 and trades on the NYSE under the ticker "CMDB." Costamare Bulkers operates through two activities: an owned fleet of 31 vessels (~2.85M dwt) spanning Capesize, Kamsarmax, Ultramax, and Supramax classes, and CBI, a commercial trading platform that charters in vessels from third-party owners and redeploys them on voyage or time charters. Following a cooperation agreement with Cargill in September 2025, CBI transferred most of its third-party vessel book to Cargill and refocused on Kamsarmax-type vessels. On the owned fleet, Costamare Bulkers earns daily charter hire while bearing operating costs; charterers bear voyage costs like fuel and port fees. CBI earns a spread between charter-in and charter-out rates, a capital-lighter model that uses forward freight agreements to manage exposure. The owned fleet is employed primarily on short-term and index-linked charters, meaning revenues closely track spot freight market conditions. Vessel management is outsourced to affiliates controlled by the Konstantakopoulos family, the company's largest shareholder, which has been active in shipping since 1974.