Castor Maritime Inc. announces vessel acquisition

Apr 22 2021


Castor Maritime Inc. (“Castor”, or the “Company”), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2015 Chinese-built Kamsarmax dry bulk carrier from an unaffiliated third-party for a purchase price of $23.5 million.

The vessel will be delivered to the Company with a time charter contract attached with a reputable charterer, at a daily gross charter rate equal to 114% of the Baltic Panamax Index, and with an estimated remaining term of about 17 to 21 months.

 

The acquisition is expected to be consummated by taking delivery of the vessel within the second quarter of this year and is subject to the satisfaction of certain customary closing conditions.

 

Petros Panagiotidis, Chief Executive Officer of Castor, commented: “We are pleased to announce our eleventh vessel acquisition in 2021 with the addition of another Kamsarmax dry bulk vessel, our sixth, to Castor’s fleet. Upon completion of all our announced acquisitions, our fleet will consist of seventeen vessels.

 

With significant capital on hand, we continue to look for further opportunities to grow our fleet with the addition of high-quality tonnage.”

 



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