Castor Maritime Acquires Tanker Fleet Of 5 Vessels For US$ 49.25 Million

Castor Maritime Inc., (“Castor” or the “Company”), a diversified global shipping company, announces that it entered, through five separate wholly-owned subsidiaries, into agreements to acquire two 2006 Korean-built MR1 tankers, two 2004 Korean-built Aframax/LR2 tankers and one 2002 Korean-built Aframax/LR2 tanker. The five tankers are acquired from an unaffiliated third-party for an aggregate purchase price of $49.25 million.

The acquisitions are expected to be consummated by taking delivery of the vessels in the second quarter of this year and are subject to the satisfaction of certain customary closing conditions.

Representation Image – Credits: castormaritime.com

Petros Panagiotidis, Chief Executive Officer of Castor, commented:

“We are excited to announce our largest purchase transaction thus far, with the en bloc acquisition of five tankers. Since our entry into the tanker market earlier this year, we have managed to swiftly grow our tanker fleet to eight vessels.”

“Upon completion of all our recently announced acquisitions, our fleet will consist of twenty three vessels, establishing our Company with a diverse fleet of fifteen bulkers and eight tankers. This diversification allows us to pursue attractive opportunities across different shipping sectors.”

Reference: castormaritime.com

Source: Maritime Shipping News