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Castor Maritime Inc. announces vessel acquisition

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Dry Bulk,

Castor Maritime Inc., a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2011 Chinese-built Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of US$14.5 million.

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

Petros Panagiotidis, Chief Executive Officer of Castor, commented: “We are very pleased to announce the acquisition of one more Panamax dry bulk vessel in 2021, increasing Castor’s dry bulk fleet to 15 vessels. Upon completion of all our recently announced acquisitions, our fleet will consist of 18 vessels, tripling in size since the start of this year. The anticipated prompt delivery of this vessel will allow Castor to take further advantage of the current strong market demand for dry bulk tonnage.”

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