New York-listed Greek owner Costamare Bulkers is continuing its fleet renewal programme, adding a modern Japanese-built ultramax while offloading two older vessels.

The company has agreed to acquire the 2018-built, 60,297 dwt dry bulk vessel Koushun, which will be renamed Astros. Delivery is expected between the first and second quarters of 2026.

The ship is valued at around $28m in the market and is listed as owned by Japan’s Kasuga Shipping and operated by Danish chartering group Norden.

At the same time, Costamare Bulkers has agreed to sell the 2011-built, 180,643 dwt capesize Miracle, with closing also expected in the first half of 2026. The deal is set to bring about $7m, on top of roughly $4.7m in operating profitability since its acquisition in February 2024.

The Gregory Zikos-led owner has also sold the 2008-built, 56,557 dwt supramax Clara, booking an estimated gain of about $0.7m in addition to $3.2m in profits since buying the vessel in August 2021.

Combined, the capesize and supramax disposals, both earlier divulged by Splash, have generated close to $8m in capital gains, according to the company, alongside nearly $8m in operating profit since the vessels were acquired prior to the spin-off from Costamare.

Following the transactions, Costamare Bulkers will own 31 dry bulk vessels on a fully delivered basis, with total capacity of about 2.8m dwt. The fleet consists of seven capesizes, seven kamsarmaxes, nine ultramaxes and eight supramaxes.

Management said the latest sale-and-purchase activity reflects a strategy of building on what it describes as solid market fundamentals, trimming older tonnage while selectively adding younger ships to keep the fleet competitive.