Castor Maritime Inc., a diversified multinational shipping corporation, announces that it has entered into an agreement to purchase a 2010 Korean-built Kamsarmax dry bulk carrier from an unaffiliated third party for a purchase price of $14.8 million, through a separate wholly-owned subsidiary.

The acquisition is scheduled to be completed some time after the delivery of the vessel at the end of the first quarter or the beginning of the second quarter of this year and is subject to certain customary conditions of closure.

Castor Maritime Inc, through its ownership of oceangoing cargo vessels, is an international provider of shipping services. Castor will have a fleet of 12 vessels with an aggregate capacity of 1.1 million dwt, consisting of 1 Capesize, 3 Kamsarmax and 6 Panamax dry bulk vessels and 2 Aframax tankers, on a fully delivered basis.

Maritime Business World