Costamare Inc. (Costamare) is an international owner of containerships. The Company provides worldwide marine transportation services by chartering its container vessels to the liner operators under long, medium and short-term time charters. As of February 27, 2015, the Company had a fleet of 68 containerships with a total capacity in excess of 447,000 twenty foot equivalent unit (TEU), including nine new builds on order. The Company's containerships operate primarily under long-term, fixed-rate time charters. The Company's fleet of vessels includes COSCO GUANGZHOU, COSCO NINGBO, COSCO YANTIAN, VANTAGE, MSC MANDRAKI and ZIM NEW YORK, among others. As of February 27, 2015, the average (weighted by TEU capacity) remaining time-charter duration for its fleet of 68 containerships was approximately 4.5 years, based on the remaining fixed terms and assuming the exercise of any owner's options and the non-exercise of any charterer's options under its containerships' charters.