Capital Maritime Finance Corp. (CMF), as the first Greek shipping company, has taken a significant step towards being listed on the Athens Stock Exchange. This IPO, which exclusively includes all shares of the company, aims to raise up to €200 million to finance construction programs and working capital needs.
Financial Profile and Development Plan
CMF is seeking a balanced combination of long-term growth and investment value. The company, focusing on the acquisition of container ships and other types of vessels under long-term lease agreements, has been able to achieve predictable and specific revenue. Currently, 100% of the company's fleet capacity is fully leased, ensuring 100% coverage of available days until 2034.
The remaining revenue from the company's contracts has reached $3.9 billion, with an average remaining contract duration of approximately 9.5 years. These contracts include major shipping companies such as CMA CGM and Unifeeder, which have contracts with CMF valued at approximately $3 billion and nearly $1 billion, respectively.
Young Fleet and Advanced Technology
CMF's fleet consists of 36 container ships, and upon completion of deliveries, it will have 13 ships in operation and 23 ships under construction. The average age of the company's fleet will be only 2 years, making it one of the youngest and most efficient fleets globally. Additionally, CMF has 26 ships with a capacity of 1.8 to 2.9 thousand TEU and 10 ships with a capacity of 8.8 thousand TEU that utilize dual-fuel (Dual-Fuel LNG) capabilities.
This capability to use LNG and biofuels significantly reduces greenhouse gas emissions, and the advanced technologies present in the fleet enable CMF to fully comply with the strictest environmental regulations. Furthermore, most of CMF's ships are rated in the highest category "A" of the CII index.
Investment Projects and Dividend Policy
The company's remaining investment program, valued at $1.9 billion until 2028, including $1.6 billion in bank financing, is underway. The remainder of this amount will be funded through operational cash flows and revenue from the public offering. CMF's management has established an attractive dividend policy aimed at providing continuous returns to shareholders.
This policy is supported by cash flows, with a target set to begin payments in the first quarter of 2027. Given the strong demand for its modern and young fleet, especially in the new shipping sector, CMF has been able to strengthen its competitive position.
