Castor Maritime Inc. [NASDAQ: CTRM ] revealed that the enterprise has entered into a contract for another vessel acquisition. The company will buy a Kamsarmax dry mass transporter at a cost of $14.8 million. The Kamsarmax dry bulk carrier is a 2010 Korean-built vessel. Castor entered into the contract through a different wholly-owned subsidiary. The company will buy the vessel from an unaffiliated third party.
The transaction will reach completion by taking conveyance of the vessel at some point toward the finish of the first quarter or start of the second quarter of 2021. Furthermore, The transaction is dependent upon the fulfillment of certain standard closing conditions.
Petros Panagiotidis, CEO of Castor, states ” We are glad to reveal the purchase of our third Kamsarmax dry bulk vessel. Moreover, we plan to stay focused on our strategy of consistently conveying capital and expanding our fleet. When the recently revealed transaction is complete, our armada will comprise 12 vessels. It means that the size is multiplying since the start of 2021. We are working tenaciously in distinguishing and making the most of alluring prospects introduced to us across vessel sizes and segments.”