Castor Maritime Inc., a global shipping company specializing in the ownership of dry-bulk vessels, has announced that on October14, 2019, through a separate wholly-owned subsidiary, it has entered into an agreement to purchase a 2005 Japan built Panamax dry bulk carrier for a purchase price of $10.2 million from a third partyin which a family member of Castor’s Chairman, Chief Executive Officer and Chief Financial Officerhas an interest.
The acquisition is expected to be consummated by taking delivery of the vessel by the endof October 2019 and is subject to the satisfaction of certain customary closing conditions.
About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels areemployed primarily on medium-term charters and transporta range of dry bulk cargoes, including such commodities as coal, grain and other materials along worldwide shipping routes.