Castor Maritime to add Panamax bulker to fleet

Cyprus-based Castor Maritime, through a separate wholly-owned subsidiary, has entered into an agreement to acquire a Panamax dry bulk carrier from an unaffiliated third party for a purchase price of U$18.75 million.

The company expects the acquisition to be concluded by taking delivery of the vessel in the fourth quarter of this year. The transaction is subject to the satisfaction of certain customary closing conditions.

The vessel was built at a Japanese shipyard and was completed in 2008.