Castor Maritime announces Kamsarmax vessel acquisition, shares rise

Castor Maritime

18/02/2021 18:30

** U.S.-listed shares of shipping co Castor Maritime Inc
 CTRM.O   CASTOR.NFF  up 7.7% at $1.25 in afternoon trade 
    ** CTRM to purchase a 2010 Korean-built Kamsarmax dry bulk
carrier from an unaffiliated third-party for $14.8 mln
 urn:newsml:reuters.com:*:nGNX9W3sjK
    ** The purchase is the third Kamsarmax dry bulk vessel
acquisition by CTRM; expected delivery of the vessel in end Q1
or at the start of Q2
    ** "Upon completion of all our recently announced
acquisitions, our fleet will consist of twelve vessels, doubling
in size since the beginning of 2021" - CEO Petros Panagiotidis
    ** CTRM has risen nearly seven times so far this year 

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))