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Castor Maritime Inc. Takes Delivery of M/V Magic Celeste

Castor Maritime Inc. Takes Delivery of M/V Magic Celeste

Castor Maritime Inc. Welcomes M/V Magic Celeste to Its Fleet

Company Overview

Castor Maritime Inc. (NASDAQ: CTRM) is a global shipping company that has recently expanded its fleet with the acquisition of the M/V Magic Celeste, a dry bulk carrier built in 2015. This purchase was made entirely with cash reserves, underscoring the company's dedication to fleet growth and strategic advancements in the shipping sector.

Details of the Vessel Acquisition

The M/V Magic Celeste has been secured under a time charter agreement, which guarantees a gross daily charter rate that is 111% of the average of the Baltic Supramax Index 10 TC routes. This charter is set to begin shortly after delivery and has a minimum duration of nine months, ensuring a steady stream of revenue during this timeframe.

About Castor Maritime Inc.

Castor Maritime Inc. focuses on providing international shipping and transportation services, operating a varied fleet of oceangoing cargo vessels. Currently, the company owns 11 vessels with a combined capacity of around 0.8 million deadweight tons (dwt). The fleet includes three Kamsarmax dry bulk vessels, five Panamax dry bulk vessels, one Ultramax dry bulk vessel, and two 2,700 TEU containerships, demonstrating the company's ability to cater to diverse shipping needs.

Contact Information

If you need more information, please reach out to:

Petros Panagiotidis
Castor Maritime Inc.
Email: ir@castormaritime.com

Media Contact:
Kevin Karlis
Capital Link
Email: castormaritime@capitallink.com

Frequently Asked Questions

What is the M/V Magic Celeste?

The M/V Magic Celeste is a 2015-built Ultramax dry bulk carrier that has been recently acquired by Castor Maritime Inc.

How was the acquisition of M/V Magic Celeste financed?

The acquisition was fully financed using cash on hand, which reflects the company's strong financial position.

What is the significance of the time charter contract for the M/V Magic Celeste?

This time charter allows the company to secure reliable revenue at a competitive daily rate for at least nine months.

How many vessels does Castor Maritime Inc. own?

Castor Maritime Inc. has a fleet consisting of 11 vessels, which includes a mix of dry bulk carriers and containerships.

How can I contact Castor Maritime Inc. for more information?

You can reach out to Castor Maritime Inc. via email at ir@castormaritime.com for any inquiries about their services and fleet.

About The Author

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The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

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