Business
Castor Maritime Inc. Announces Deliveries of the M/V Magic Orion and the M/V Magic Argo
LIMASSOL, Cyprus, March 19, 2021 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company,
About this update from Castor Maritime Inc.
[{"type":"text","content":"LIMASSOL, Cyprus, March 19, 2021 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that on March 17, 2021, it took delivery of the M/V Magic Orion, a 2006 Japanese-built Capesize dry bulk carrier, and on March 18, 2021, it took delivery of the M/V Magic Argo, a 2009 Japanese-built Kamsarmax dry bulk carrier, pursuant to the transactions previously announced on January 20 and February 3, 2021, respectively. Both acquisitions were financed in their entirety with cash on hand. The M/V Magic Orion is expected to commence employment under a time charter contract on or around March 20, 2021, at a daily gross charter rate of $21,000 and an expected term of about 35 days. The M/V Magic Argo is expected to commence employment under a time charter contract on or around March 21, 2021, at a daily gross charter rate of $25,100 and an expected term of about four months. About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. On a fully delivered basis, Castor will have a fleet of 14 vessels, with an aggregate capacity of 1.3 million dwt, consisting of 1 Capesize, 5 Kamsarmax and 6 Panamax dry bulk vessels and 2 Aframax LR2 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions. For more information, please visit the Company’s website at www.castormaritime.com. Information on our website does not constitute a part of this press release. Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. We desire to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are...