Castor Maritime Inc., a global shipping company specializing in the ownership of drybulk vessels, announces that it entered,through a separate wholly-owned subsidiary, into an agreement to purchase a 2010 Japan-built Panamax dry bulk carrier for a purchase price of $12.75 million from an unaffiliated third party seller, the company said in its release.
The acquisition is expected to be consummated by taking delivery of the vessel sometime in the end of the third quarter / beginning of the fourth quarter of this year 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 are employed primarily on medium-term charters and transport a range of dry bulk cargoes, including such commodities as coal, grain and other materials along worldwide shipping routes. Upon completion of this acquisition, the Company's fleet will consist of fivePanamax dry bulk carriers.