- Castor Maritime Inc. entered into an agreement to purchase a 2001 Korean built Panamax dry bulk carrier from an unaffiliated third party.
- Addition of the bulker fleet will be incremental to the cash generating ability and will be consistent with the growth-oriented strategy and goal of increasing shareholder value of the company.
Castor Maritime Inc. enters into an agreement to purchase its second dry bulk carrier, reports Sea News.
Castor Maritime Inc.
Castor Maritime Inc. is a global shipping company specializing in the ownership of dry-bulk vessels.
It entered into an agreement to purchase a 2001 Korean built Panamax dry bulk carrier from an unaffiliated third party.
The agreement was through a separate wholly-owned subsidiary and the purchase was for a price of $6.7 million.
Second Dry bulker
The acquisition is expected to be consummated late third quarter / early fourth quarter of 2019 and is subject to the satisfaction of certain customary closing conditions.
Petros Panagiotidis, Chairman, Chief Executive Officer and Chief Financial Officer of Castor, commented: “We are pleased to announce the acquisition of our second dry bulk carrier, which, in a very short period, doubles the size of our fleet.”
He added that the addition of this vessel to their fleet will be incremental to their cash generating ability and is consistent with their growth-oriented strategy and goal of increasing shareholder value.
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Source: Sea News
