Castor Maritime rises on vessel acquisition, charter agreements

Castor Maritime

26/08/2021 16:10

** U.S.-listed shares of shipping co  1C1A.F   CTRM.O  up
3.8% at $2.18
    ** Co to acquire a 2008 Japanese-built Panamax dry bulk
carrier from an unaffiliated third-party for $18.75 mln
 urn:newsml:reuters.com:*:nGNX3FPjxY
    ** The acquisition is expected to be concluded by taking
delivery of the vessel in Q4
    ** The vessel acquisition is expected to be financed with
cash on hand and cash flows generated from operations
    ** Co also announces two new employment fixtures or charter
agreements at daily gross rates of $35,000
    ** "Demand for dry bulk transportation services remains
strong, allowing us to generate significant free cash flows and
fund our growth plan" - CTRM
    ** CTRM is up 16.2% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))