Castor Maritime (CTRM) Announces Vessel Acquisition

Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to purchase a 2011 Japanese-built Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of $18.48 million.

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.

Petros Panagiotidis, Chief Executive Officer of Castor, commented:

“We are pleased to announce our ninth vessel acquisition in 2021 with the addition of another Panamax dry bulk vessel to Castor’s fleet. Our focus remains on deploying our capital and growing our fleet through timely acquisitions of vessels across shipping segments.”

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