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Castor Maritime buys secondhand panamax bulker for $12.75m

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Castor Maritime Inc. has entered into an agreement to buy a 2010-Japan-built panamax dry bulk carrier for $12.75m.

The secondhand bulk carrier is expected to be handed over to Castor Maritime sometime in the end of the third quarter or the beginning of the fourth quarter.

Earlier, Nasdaq-listed Castor Maritime has raised funds from share sales and stated that part of the net proceeds will be used to make vessel acquisition.

“We are very pleased that we have been able to utilise further our recently raised capital by agreeing the acquisition of our fifith vessel, in a very short time since the acquisition of our fourth,” said Petros Panagiotidis, chairman, ceo and cfo of Castor Maritime.

The company had in end-June announced the purchase of a 2007-China-built panamax dry bulk carrier for $7.85m.

“We are making swift progress on our expansion and renewal plan that we set in place last year and are actively continuing to assess the various opportunities presented to us,” Panagiotidis said, adding that the key goal continues to be expansion of fleet and deployment of readily available liquidity.

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