Castor Maritime: High profitability and 29 ships in its fleet

Net profit of $ 29.2 million for the fourth quarter of 2021 was announced by Castor Maritime Inc. against a loss of $ 0.8 million in the corresponding period of 2020. Petros Panagiotidis’  Nasdaq listed shipping company, also announced revenues of  $ 60.0 million compared to just $ 4.4 million a year ago. During the fourth quarter of 2021, Castor added to its fleet three additional vessels, two Panamax bulk carriers and an Aframax / LR2 tanker.

Castor currently has a fleet of 29 vessels with a total capacity of 2.5 million dwt, more than quadrupling the number of vessels it owns by the end of 2020. Of these, 20 are bulk carriers and nine are tankers.

The CEO of the company Mr. Petros Panagiotidis stated that 2021 was a year of transformation of Castor Maritime that grew its fleet to 29 ships. We will continue to look for attractive opportunities to acquire new assets, added Mr. Panagiotidis.