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.