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Castor Maritime buys secondhand panamax bulker for $13.9m

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Castor Maritime Inc. has announced a deal to purchase a secondhand panamax dry bulk carrier for $13.86m, expanding the company’s fleet to six.

The 2010 Japanese built bulker is expected to be delivered to Castor Maritime by mid-October.

“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,” said Petros Panagiotidis, chairman, ceo and cfo of Castor Maritime.

“We believe that with this acquisition we have, once again, demonstrated our ability to quickly utilise the capital raised in our recent offerings in a productive and accretive manner,” Panagiotidis said.

He added that the company will continue to assess various market opportunities and remain focus on growing the fleet.

Castor Maritime’s vessels are primarily employed on medium term charters.

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