Castor Maritime Inc. , an international shipping company specializing in the ownership of dry-bulk vessels, has entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeckfor its Panamax vessel Magic P., the company said in its release.
The gross charter rate is US$ 11,250 per day, for a period of a minimum of five (5) months up to a maximumofabout eight (8) months (for the first 30 days period the daily gross rate is US$ 9,000).
The charter commenced on March 12, 2019.The “Magic P” is a 76,453 dwt Panamax bulk carrier built in 2004 in Japan.
All things being equal, this employment is anticipated to generate approximately US$ 1.60million of gross revenue for the minimum scheduled period of the time charterand could reach US$ 2.60million should employment be extended to its maximum period.
About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of a dry bulk vessel. The company’s vessel is employed primarily on medium-term charters and transports a range of dry bulk cargoes, including such commodities as coal, grain and other materials along worldwide shipping routes.