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Castor Maritime Inc. takes delivery of Panamax vessel

Published by , Assistant Editor
Dry Bulk,

Castor Maritime Inc. has announced that on 20 September 2021, it took delivery of M/V Magic Mars, the 2014 Korean-built Panamax dry bulk carrier it had agreed to acquire as previously announced on 17 May 2021. The vessel acquisition was financed in its entirety with cash on hand.

M/V Magic Mars has been fixed on a time charter contract at a gross daily charter rate of US$34 600. The charter is expected to commence on or around 24 September 2021, and will have a duration of approximately 75 days.

The company also announces that M/V Magic Argo, a 2009 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of US$33 500. The charter commenced on 14 September 2021, and has a duration of approximately 90 days.

Mr. Petros Panagiotidis, Chief Executive Officer of Castor commented:

“We continue to see strong demand for dry bulk transportation services, as evidenced by our recent employment fixtures at attractive gross daily charter rates.

Our well-timed expansion plans in early 2021 and persistent focus on prompt deliveries of acquired vessels, allow our company to take advantage of this strong market with a dry bulk fleet consisting of 19 vessels on a fully delivered basis.”

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Dry bulk shipping market Panamax news