Castor Maritime announces vessel acquisition

Castor Maritime entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2009-built 1,850 TEU containership vessel from an unaffiliated third-party for a purchase price of $16.49 million. The Company expects to finance the acquisition with cash on hand. The acquisition is expected to be concluded by taking delivery of the vessel by October 2024 and is subject to the satisfaction of certain customary closing conditions. Upon delivery, the vessel will be employed under a time charter contract with a duration of about four months at a gross daily rate of $29,000.