Castor Maritime added two new ships to its fleet for $ 40 million.
The NASDAQ-listed shipping company based in Cyprus acquired two panamax dry bulk carriers in 2013 and 2014 for $ 19.06 million and $ 21.0 million respectively. The acquisitions are expected to be completed with the delivery of the ships in the third and fourth quarters of this year.
The panamax built in 2013 will be delivered to the company accompanied by a time charter with a daily gross fare of $ 11,650 and an estimated remaining duration of approximately 2 to 4 months.
The agreement for the panamax built in 2014 includes a mechanism for determining the final purchase price according to which in case the delivery of the ship takes place after July 20, 2021, the purchase price is reduced by $ 10,500 per day and until the seller announces the actual delivery day.
Castor Maritime also received “Magic Vela” a panamax it bought last April.
Petros Panagiotidis, CEO of Castor, commented that with the purchase of the two ships and after receiving all of them, the company’s fleet will consist of 26 ships, of which 18 will bulk carrier and eight tankers.
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%