The containership leasing company Costamare, the owner of the vessel Rena which went aground in New Zealand in October, reported a profit of $26.1 million in the fourth quarter ending Dec. 31, compared to $11.8 million in the fourth quarter of 2010.
Costamare said it had revenue of $102 million in the fourth quarter 2011, compared to $85.7 in the same 2010 period.
For the full-year 2011, the company had a profit of $87.6 million, compared to $81.2 million in 2010. Revenue was $382.2 million in 2011 and $353.2 million the year prior.
Costamare has a fleet of 57 ships with a total capacity of 327,000 TEUs, including 10 ships on order and a second-hand ship to be delivered. The Rena, it noted, has been declared a total loss for insurance purposes.
Costamare reports higher profit
