Castor Maritime Inc., a diversified global shipping company, announces that on July 16, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2015-built Ultramax dry bulk carrier vessel from an unaffiliated third-party, for a purchase price of $25.5 million.
The acquisition is expected to be concluded by taking delivery of the vessel during the third quarter of 2024 and is subject to the satisfaction of certain customary closing conditions.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. Following the completion of the above-mentioned vessel acquisition, Castor will own a fleet of 11 vessels, with an aggregate capacity of 0.8 million dwt, consisting of three Kamsarmax vessels, five Panamax dry bulk vessels, one Ultramax vessel and two 2,700 TEU containership vessels.