Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium-term charters and transport a range of dry bulk cargoes, including such commodities as coal, grain and other materials along worldwide shipping routes.

"We are pleased to have taken delivery of the M/V Magic Moon, which is the second vessel we acquired since our listing on NASDAQ last February. We believe that this acquisition will prove to be accretive to our profitability and increase shareholder value over time. We are committed to continue taking advantage of market opportunities for further growing our fleet,” Petros Panagiotidis, Chief Executive Officer and Chief Financial Officer of Castor Maritime has stated.

The Panamax acquisition was financed using a combination of cash on hand and the proceeds from a USD 7.5 million interest free unsecured bridge loan, which was provided to the company by an entity controlled by Petros Panagiotidis.

Maritime Business World