Dry CargoEurope

Castor Maritime takes fleet to 29 with panamax buy

Greek owner Castor Maritime has sealed an agreement to acquire a 2012-built panamax dry bulk carrier from a third party in which a family member of Castor’s chairman, chief executive officer and chief financial officer has a minority interest.

The vessel, paid $23.5m, will be delivered after the completion of its ongoing dry-docking and special survey that also includes the installation of a ballast water treatment system. The transaction is subject to the satisfaction of certain customary closing conditions.

In addition, the Nasdaq-listed firm has fixed the 2014-built panamax bulker Magic Mars on a time charter contract at a daily rate equal to 91% of the average of the Baltic Panamax Index 5TC routes. The charter commenced on December 6 and will last between eleven and fourteen months.

The latest purchase will take Castor’s fleet to 29 ships, on a fully delivered basis, including one capesize, seven kamsarmaxes, twelve panamaxes and nine tankers.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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