Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), 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.
Petros Panagiotidis, Chief Executive Officer of the Company commented:
“In continuation of our efforts to renew and develop our fleet, we are excited to announce Castor’s entry into the Ultramax segment. We remain committed to our growth trajectory by seeking further opportunities in the shipping space, including opportunities to modernize our fleet”.
