Container Ship Owner Costamare Inc. Files for MLP IPO
By: Tim McPartland,
Following so many other companies Costamare Inc., an owner of a fleet of container ships (68 in total), has filed an F-1 (same as a S-1, but for foreign companies) to spin off a MLP some time in the not distant future.
The new MLP, Costamare Partners LP (ticker to be CMRP) will be formed with a fleet of 4 container ships to start with leaving plenty of room for ‘drop downs’ of more ships from the sponsor in the future.
If you want to read the F-1 it is here–obviously there is not a lot of financial detail at this point. Like all MLP’s that are registered the offering may not come for many months.
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
