Castor Maritime to acquire five tankers

Castor Maritime, through five separate wholly-owned subsidiaries, has entered into agreements to acquire two 2006 Korean-built MR1 tankers, two 2004 Korean-built Aframax/LR2 tankers, and one 2002 Korean-built Aframax/LR2 tanker.

The five tankers are acquired from an unaffiliated third party for an aggregate purchase price of US$49.25 million.

Castor expects the acquisitions to be consummated by taking delivery of the vessels in the second quarter of this year. The transactions remain subject to the satisfaction of certain customary closing conditions.