It is estimated that the acquisition will be completed by taking delivery of the vessel by mid-October 2020 and is subject to some usual closing conditions.

“We are very pleased to announce the expansion of our fleet to six vessels, which signifies the doubling of our fleet size within a quarter’s time. We believe that with this acquisition we have, once again, demonstrated our ability to quickly utilize the capital raised in our recent offerings in a productive and accretive manner," stated Petros Panagiotidis, Chairman, Chief Executive Officer and Chief Financial Officer of Castor.

"We remain committed to continuing the assessment of the various market opportunities presented to us, and we remain focused on our goal of growing our fleet further while at the same time aiming to maximize shareholder value,” Panagiotidis added.

Through its ownership of dry bulk vessels, Castor Maritime Inc is an international provider of shipping services. The vessels of the Company are mainly used on medium-term charters and carry a variety of dry bulk cargos along worldwide shipping routes, including commodities such as coal, grain, and other materials.

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