- Castor Maritime Inc., a diversified global shipping company, announces delivery of M/V Magic Phoenix.
- The Company also announces that the M/V Magic Venus has been fixed on a time charter contract at a gross daily charter rate of $38,000
- We desire to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and are including this cautionary statement in connection with this safe harbour legislation.
Castor Maritime Inc., a diversified global shipping company, announces that on October 26, 2021, it took delivery of M/V Magic Phoenix, the 2008 Japanese-built Panamax dry bulk carrier it had agreed to acquire as previously announced on August 26, 2021. The vessel acquisition was financed in its entirety with cash on hand as reported by Yahoo Finance.
Time charter contract
M/V Magic Phoenix has been fixed on a time charter contract at a gross daily charter rate equal to 102% of the average of the Baltic Panamax Index 4TC routes.
The charter is expected to commence on or around October 28, 2021, and will have a minimum duration of eleven months and a maximum duration of fourteen months at the charterer’s option.
The Company also announces that the M/V Magic Venus, 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $38,000.
The charter commenced on October 16, 2021, and has a duration of about 60 days.
About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.
Castor owns a fleet of 27 vessels, with an aggregate capacity of 2.3 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 11 Panamax dry bulk vessels, as well as 1 Aframax, 5 Aframax/LR2 and 2 MR1 tankers.
Cautious Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements.
The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements to encourage companies to provide prospective information about their business.
The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties.
No obligations to update
We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Dry bulk and tanker shipping market conditions, including fluctuations in charter hire rates and vessel values, are important factors that, in our view, could cause actual results to differ from those discussed in the forward-looking statements.
The length and severity of the COVID-19 outbreak, the impact of public health threats and outbreaks of other highly communicable diseases, among others.
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Source: Yahoo Finance
