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.