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Castor Maritime Inc. announces vessel acquisition

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Dry Bulk,


Castor Maritime Inc., a global shipping company specialising in the ownership of dry bulk vessels, announced that on 28 September 2020, it entered, through a separate, wholly-owned subsidiary, into an agreement to purchase a 2010 Japan-built Panamax dry bulk carrier for a purchase price of US$13.86 million from an unaffiliated third-party seller.

The acquisition is expected to be consummated by taking delivery of the vessel by mid-October 2020 and is subject to the satisfaction of certain customary closing conditions.

Petros Panagiotidis, Chairman, Chief Executive Officer and Chief Financial Officer of Castor, commented:

“We are very pleased to announce the expansion of our fleet to six vessels, which signifies the doubling of our fleet size within a quarter’s time. We believe that with this acquisition we have, once again, demonstrated our ability to quickly utilise the capital raised in our recent offerings in a productive and accretive manner. We remain committed to continuing the assessment of the various market opportunities presented to us, and we remain focused on our goal of growing our fleet further while at the same time aiming to maximise shareholder value.”

Read the article online at: https://www.drybulkmagazine.com/shipping/01102020/castor-maritime-inc-announces-vessel-acquisition/

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Dry bulk shipping market