Castor Maritime Buys 2015-built Dry Bulk Carrier

Cyprus-based shipping company Castor Maritime has agreed to acquire a 2015 Chinese-built Kamsarmax dry bulk carrier from an unaffiliated third party for $23.5 million. The vessel comes with a charter contract included.

"The vessel will be delivered to the Company with a time charter contract attached with a reputable charterer, at a daily gross charter rate equal to 114% of the Baltic Panamax Index, and with an estimated remaining term of about 17 to 21 months," Castor Maritime said.

The acquisition is expected to be consummated by taking delivery of the vessel within the second quarter of this year and is subject to the satisfaction of certain customary closing conditions, Castor Maritime said, without sharing details on the seller.

Petros Panagiotidis, Chief Executive Officer of Castor, commented: "We are pleased to announce our eleventh vessel acquisition in 2021 with the addition of another Kamsarmax dry bulk vessel, our sixth, to Castor’s fleet. Upon completion of all our announced acquisitions, our fleet will consist of seventeen vessels."

"With significant capital on hand, we continue to look for further opportunities to grow our fleet with the addition of high-quality tonnage."