Castor Maritime Doubles Fleet with Secondhand Panamax

BulkerIllustration; Source: Pixabay under CC0 Creative Commons license

Cyprus-based dry bulk shipowner Castor Maritime has doubled its fleet with the recent acquisition of a 2001-built Panamax bulker.

The transaction is expected to be finalized late third quarter or early fourth quarter of 2019 and “is subject to the satisfaction of certain customary closing conditions.”

Namely, the company agreed to purchase its second dry bulk carrier from Greek dry bulk vessel owner Diana Shipping.

Under the memorandum of agreement, signed on July 25, 2019, Castor Maritime’s subsidiary is to acquire the 75,300 dwt Nirefs at a price of USD 6.7 million.

“We believe that the addition of this vessel to our fleet will be immediately accretive to our cash generating ability and is consistent with our growth-oriented strategy and our goal of increasing shareholder value,” Petros Panagiotidis, Chairman, Chief Executive Officer and Chief Financial Officer of Castor, said.

Share this article

Follow World Maritime News

In Depth>


<< Feb 2020 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >