Castor Maritime Inc. publicizes the acquisition of a brand new vessel and the supply of the M / T Marvel Polaris
LIMASSOL, Cyprus, March 12, 2021 (GLOBE NEWSWIRE) – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Firm”), a diversified international delivery firm, publicizes that it has entered, by subsidiary, into an settlement to buy a 2011 Kamsarmax Japanese-built dry bulk provider from an unaffiliated third get together for a purchase order worth of $ 16.85 million.
The acquisition is anticipated to be accomplished by taking supply of the vessel between the second and third quarters of this yr and is topic to the satisfaction of sure customary closing circumstances.
The Firm additionally publicizes that, on March 11, 2021, it took supply of the M / T Marvel Polaris, the 2005 Korean-built Aframax LR2 tanker that it had agreed to accumulate as beforehand introduced on February 11, 2021. The M / T Marvel Polaris is presently employed underneath a time constitution contract with a minimal period of roughly one yr for a minimal gross every day dedication of $ 15,000. The M / T Marvel Polaris the acquisition was totally financed with out there money.
Castor CEO Petros Panagiotidis commented:
“We’re happy to announce our eighth vessel acquisition in 2021 with the addition of one other Kamsarmax dry bulk vessel, our fifth, to the Castor fleet. Following all of our just lately introduced acquisitions, our fleet will encompass fourteen vessels.
As well as, we’re additionally happy to announce the profitable supply of our first of two Aframax LR2 tankers, marking our foray into the tanker market.
About Castor Maritime Inc.
Castor Maritime Inc. is a global supplier of maritime transport providers by means of its possession of ocean freighters.
On a totally delivered foundation, Castor can have a fleet of 14 vessels, with a complete capability of 1.3 million dwt, made up of 1 Capesize, 5 Kamsarmax and 6 Panamax dry bulk vessels and a couple of Aframax tankers. After we seek advice from info on a “totally delivered foundation” we’re referring to that info after giving impact to the success of our current vessel acquisitions.
For extra info, please go to the corporate’s web site at www.castormaritime.com
Info on our web site shouldn’t be a part of this press launch.
Warning Relating to Ahead-Wanting Statements
The issues mentioned on this press launch might represent forward-looking statements. The Non-public Securities Litigation Reform Act of 1995 gives protections for forward-looking statements to encourage firms to offer forward-looking details about their actions. Ahead-looking statements embrace statements about future plans, goals, objectives, methods, occasions or efficiency, in addition to underlying assumptions and different statements, that are aside from statements of historic reality. We want to make the most of the secure harbor provisions of the Non-public Securities Litigation Reform Act 1995 and embrace this caveat in reference to this “secure harbor” laws. The phrases “imagine”, “anticipate”, “intend”, “estimate”, “foresee”, “plan”, “plan”, “potential”, “will”, “can,” ought to “,” s ‘anticipate’, ‘pending’ and related phrases establish forward-looking statements. The forward-looking statements contained on this press launch are primarily based on numerous assumptions, lots of which, in flip, are primarily based on different assumptions, together with, with out limitation, our administration’s overview of working traits. historic knowledge, knowledge contained in our data and different knowledge out there from third events. Whereas we imagine these assumptions have been affordable when made, as a result of these assumptions are inherently topic to vital uncertainties and contingencies that are troublesome or unimaginable to foretell and are past our management, we can not guarantee you. that we are going to meet or obtain these expectations, beliefs or projections. We assume no obligation to replace any forward-looking assertion, whether or not because of new info, future occasions or in any other case. Along with these essential components, different essential components which, in our opinion, might trigger precise outcomes to vary materially from these mentioned within the forward-looking statements embrace normal market circumstances for dry bulk transportation and ships. tanks, together with fluctuations in rental charges and vessels. values, the power of world economies, the soundness of Europe and the euro, fluctuations in rates of interest and trade charges, modifications in demand within the dry bulk and tanker transport business , together with the marketplace for our vessels, modifications in our working bills, together with bunker costs, dry dock and insurance coverage prices, modifications in authorities guidelines and rules or actions taken by regulatory authorities , potential legal responsibility within the occasion of pending or future litigation, normal nationwide and worldwide political circumstances, potential disruption of delivery routes because of accidents or political occasions, period and severity of the COVID outbreak -19, impression of public well being ats and epidemics of different extremely communicable illnesses, the impression of the deliberate cessation of LIBOR after 2021 on the rates of interest of our debt referring to LIBOR, the d availability of financing and refinancing and to develop our enterprise, vessel failures and circumstances of publicity or lack of an funding in derivatives, potential conflicts of curiosity involving our CEO, his household and different members of our senior administration, and our capacity to finish acquisitions as deliberate. Please see our filings with the Securities and Change Fee for a extra full dialogue of those and different dangers and uncertainties. The data introduced right here speaks solely as of the date hereof, and we disclaim any intention or obligation to replace any forward-looking statements because of developments occurring after the date of this communication.
For extra info, please contact:
Castor Maritime Inc.
E-mail: [email protected]
E-mail: [email protected]