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Castor Maritime Inc. takes delivery of Kamsarmax dry bulk vessel

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Dry Bulk,

Castor Maritime Inc., a diversified global shipping company has announced that on 2 March 2021, it took delivery of the M/V Magic Venus, the 2010 Japanese-built Kamsarmax dry bulk vessel it had agreed to acquire as previously announced on 1 February 2021. The M/V Magic Venus acquisition was financed in its entirety with cash on hand.

The M/V Magic Venus is expected to commence employment under a time charter agreement on or about 5 March 2021, with a daily gross charter rate of US$18 500 and an expected term of between minimum five to seven months. Castor estimates to generate approximately US$2.8 million of gross incremental revenues for the minimum scheduled period of the charter and approximately US$4.2 million should employment extend to its maximum period, in each case assuming no off-hire days.

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