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Castor Maritime Inc. acquires Kamsarmax dry bulk carrier

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Dry Bulk,

Castor Maritime Inc., a global shipping company specialising in the ownership of dry bulk vessels, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to purchase a 2009 Japan-built Kamsarmax 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 within the first quarter of this year and is subject to the satisfaction of certain customary closing conditions.

Petros Panagiotidis, Chief Executive Officer of Castor, commented: “We remain committed to our plan of steadily growing our fleet by announcing the acquisition of our second Kamsarmax vessel, shortly after the acquisition of our first one. Upon completion of our recently announced acquisitions, our fleet will consist of nine vessels, tripling in size since last summer. We are dedicated to further expanding our fleet by deploying our capital in the most productive manner, taking advantage of attractive opportunities presented to us in all vessel sizes and segments.”

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Dry bulk shipping market