Castor Maritime Entered, Through A Separate Wholly-Owned Subsidiary, Into An Agreement To Acquire A 2009-Built 1,850 TEU Containership Vessel From An Unaffiliated Third-Party For A Purchase Price Of $16.49M; Expects To Finance The Acquisition With Cash On Hand
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Castor Maritime Inc. (NASDAQ:CTRM) has agreed to acquire a 2009-built 1,850 TEU containership for $16.49 million, financed with cash on hand. The acquisition is expected to close by October 2024, with the vessel employed under a four-month time charter at $29,000 per day.
September 10, 2024 | 1:03 pm
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Castor Maritime is acquiring a 2009-built containership for $16.49 million, using cash on hand. The vessel will be delivered by October 2024 and will be employed under a four-month time charter at $29,000 per day.
The acquisition of a new vessel expands Castor Maritime's fleet, potentially increasing revenue through the time charter contract. The use of cash on hand for financing indicates strong liquidity, which is positive for investors.
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