April 19, 2021 / 10:20 AM Castor Maritime Inc. (NASDAQ: CTRM), (“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.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.
On a fully delivered basis, Castor will own a fleet of 17 vessels, with an aggregate capacity of 1.5 million dwt, consisting of 1 Capesize, 6 Kamsarmax, and 7 Panamax dry bulk vessels, as well as 1 Aframax and 2 Aframax/LR2 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions.
For more information please visit the Company’s website at www.castormaritime.com Information on our website does not constitute a part of this press release.
