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Panamax delivery and new charter agreements for Castor Maritime Inc

Published by , Assistant Editor
Dry Bulk,

Castor Maritime Inc has announced that on 26 October 2021, it took delivery of M/V Magic Phoenix, the 2008 Japanese-built Panamax dry bulk carrier it had agreed to acquire as previously announced on 26 August 2021. The vessel acquisition was financed in its entirety with cash on hand.

M/V Magic Phoenix has been fixed on a time charter contract at a gross daily charter rate equal to 102% of the average of the Baltic Panamax Index 4TC routes. The charter is expected to commence on or around 28 October 2021, and will have a minimum duration of 11 months and a maximum duration of 14 months at the charterer’s option.

The company has also announced that the M/V Magic Venus, a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of US$38 000. The charter commenced on 16 October 2021, and has a duration of approximately 60 days.

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