Benzinga | Aug 26, 2021 09:14AM EDT

Castor Maritime Acquires 2008 Japanese-Built Panamax Dry Bulk Carrier For $18.75M

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 2008 Japanese-built Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of $18.75 million. The acquisition is expected to be concluded by taking delivery of the vessel in the fourth quarter of this year and is subject to the satisfaction of certain customary closing conditions.



The Company also announces that:

The M/V Magic Perseus, a 2013 built Kamsarmax dry bulk carrier, following its acquisition by Castor, has been fixed on a time charter contract that commenced on August 20, 2021, at a daily gross charter rate of $35,000 and with a term of about 100 days.

The M/V Magic Thunder, a 2011 built Kamsarmax dry bulk carrier, following completion of its previous employment contract, has been fixed on a time charter contract that commenced on August 3, 2021, at a daily gross charter rate of $35,000 and with a term of about 100 days.