Castor Maritime Inc. Announces New Charter Agreement

Castor Maritime Inc. (NASDAQ: CTRM), (Castor), a global shipping company specializing in the ownership of dry bulk vessels, announced that it entered Thursday (Jul 09) into a new time charter agreement with Oldendorff Carriers GMBH & Co KG in connection with its previously announced acquisition of a Panamax dry-bulk carrier at a daily gross hire rate of $10,300.

The charter agreement has an expected term of a minimum of three months and up to a maximum of five months and is expected to commence after the vessel’s delivery to the Company, sometime between the 5 th and the 25 th of August 2020. As a result of this charter agreement, the Company’s gross revenue is expected to increase by $0.9 million based on the minimum scheduled period of the time charter and could reach approximately $1.6 million should employment be extended to its maximum period…

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