Castor Maritime, a diversified global shipping company, announced that on September 20, 2021, it took delivery of M/V Magic Mars, the 2014 Korean-built Panamax dry bulk carrier it had agreed to acquire as previously announced on May 17, 2021.

The vessel acquisition was financed in its entirety with cash on hand.

M/V Magic Mars has been fixed on a time charter contract at a gross daily charter rate of $34,600. The charter is expected to commence on or around September 24, 2021, and will have a duration of about 75 days.

The Company also announces that M/V Magic Argo, a 2009 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $33,500. The charter commenced on September 14, 2021, and has a duration of about 90 days.

Mr. Petros Panagiotidis, Chief Executive Officer of Castor commented:

“We continue to see strong demand for dry bulk transportation services, as evidenced by our recent employment fixtures at attractive gross daily charter rates.

Our well-timed expansion plans in early 2021 and persistent focus on prompt deliveries of acquired vessels, allow our Company to take advantage of this strong market with a dry bulk fleet consisting of 19 vessels on a fully delivered basis.”