2020 October 8 19:08

Castor Maritime announces new charter agreement for its recently acquired vessel

Castor Maritime Inc., a global shipping company specializing in the ownership of drybulk vessels, announced that in connection with its previously announced acquisition of a 2010 Japan-built Panamax dry bulk carrier vessel (to be renamed MagicHorizon), the Company has secured employment for the subject vessel by entering into a new charter party contract with an expected term of between ten (10) to fourteen (14) months at a daily gross hire rate of $11,000, the company said in its release.

The new charter party is expected to commence a few days following the delivery of the vessel to the Company, which is expected to take place by mid-October 2020.

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 by mid-October 2020 of the two previously announced acquisitions of two 2010 Japan-built Panamax dry bulk carriers, the Company's fleet will consist of six Panamax dry bulk carriers.