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Castor Marine Inc. (CTRM)

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Last Post: 4/18/2019 11:04:59 AM - Followers: 8 - Board type: Free - Posts Today: 0






O/S: 2,400,000
Float: 500,000

 
Thalassa Investment Co. S.A.(1)
   
1,124,094
     
46.83
%
Universe Shipping Inc.(2)
   
235,200
     
9.8
%
Simple Life Corp.(3)
   
230,400
     
9.6
%
 
Petros Panagiotidis, 27, is the founder of Castor Maritime Inc.  He has also served as the Chairman of the Board and has served as our Chief Executive Officer and Chief Financial Officer since our inception in September 2017.  Mr. Panagiotidis has been involved in shipping and investment banking for more than 5 years, during which he has held various positions in finance, operations and management. He has graduated with a Bachelor's degree from Fordham University in International Studies and Mathematics and he earned a Master of Science degree from New York University on Management and Systems with a concentration on Risk Management.
 
Dionysios Makris, Secretary and Class B Director
Dionysios Makris, 37, is a lawyer and a member of the Athens Bar Association since September 2005.  Mr. Makris is based in Piraeus, Greece and is licensed to practice law before the Supreme Court of Greece.  He practices mainly shipping, commercial, real estate and company law and has substantial involvement both in litigation as well as in transactional work with the Macris Law Office, where he has worked since September 2011.  He holds a bachelor of laws degree from the University of Athens and a Master of Arts Degree in International Relations from the University of Warwick, United Kingdom.
 
Georgios Daskalakis, Class A Director
Georgios Daskalakis, 28, has been a non-executive member of our Board since our establishment in September 2017.  He has spent all of his professional life in the shipping industry. From May 2013 to January 2015, he was an insurance officer at Minerva Marine Inc. From January 2015 to March 2017, he served as a tanker operator at Trafigura Maritime Logistics PTE Ltd.  He is currently a Commercial officer of M/Maritime Corp. in Athens, Greece.  He holds a Bachelor's degree from Babson College with a concentration on Economics and Finance and Master of Science degree in Shipping, Trade and Finance from the Costas Grammenos Centre for Shipping, Trade and Finance, Cass Business School, City University of London.


 
Castor Maritime Inc. Announces Time Charter Contract for MV Magic P with Oldendorff Carriers Limassol, Cyprus, March 14, 2019 – Castor Maritime Inc. (NASDAQ: CTRM), (the “Company”), an international shipping company specializing in the ownership of dry-bulk vessels, today announced that, through a wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GMBH & Co KG Luebeck for its Panamax vessel Magic P. The gross charter rate is US$ 11,250 per day, for a period of a minimum of five (5) months up to a maximum of about eight (8) months (for the first 30 days period the daily gross rate is US$ 9,000). The charter commenced on March 12, 2019. The “Magic P” is a 76,453 dwt Panamax bulk carrier built in 2004 in Japan. All things being equal, this employment is anticipated to generate approximately US$ 1.60 million of gross revenue for the minimum scheduled period of the time charter and could reach US$ 2.60 million should employment be extended to its maximum period. We cannot guarantee that any such extension will occur.

About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of a dry bulk vessel. The Company’s vessel is employed primarily on medium-term charters and transports a range of dry bulk cargoes, including such commodities as coal, grain and other materials along worldwide shipping routes. For more information please visit the company’s website at www.castormaritime.com


 
Magic P
Year Built: 2004
 
Type of Charter: Time Charter
   
Capacity: 76,453 dwt
 
 
Thalassa Investment Co. S.A.(1)
   
1,124,094
     
46.83
%
Universe Shipping Inc.(2)
   
235,200
     
9.8
%
Simple Life Corp.(3)
   
230,400
     
9.6
%


 

CASTOR MARITIME INC.
Form of Code of Ethics & Conduct

Introduction

Castor Maritime Inc. (the “Company” or “Castor”) has a strong commitment to promoting honest conduct and ethical business conduct by all Employees (as defined below) and compliance with the laws that govern the conduct of our business worldwide. We believe that a commitment to honesty, ethical conduct and integrity is a valuable asset that builds trust with our customers, suppliers, employees, shareholders and the communities in which we operate. To implement our commitment, we have developed a code of business ethics and conduct (the “Code”). This Code has been designed to deter wrongdoing and to promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships and avoidance of conflicts of interest. The Code establishes rules and standards regarding behavior and performance and constitutes a part of the terms and conditions of employment. Violation of the rules and standards embodied in the Code is not tolerated and will subject those responsible to disciplinary action.
The Code applies to all affiliates of the Company and all employees, directors, officers and agents of the Company (“Employees”). All Employees are required to read and understand the Code and certain Employees will be required to provide a certification to that effect. We encourage all Employees to ask questions regarding the application of the Code. Employees may direct such questions to their manager (in the absence of an actual or potential conflict of interest), or to an Audit Committee member.
Employees individually are ultimately responsible for their compliance with the Code. Every manager will also be responsible for administering the Code as it applies to Employees and operations within each manager’s area of supervision.
The Company’s policy is to distribute the Code to affiliated companies and urge that they have in force similar policies and procedures to secure compliance with the principles of business integrity and ethics set forth in this Code.
Employees who observe or become aware of a situation that they believe to be a violation of the Code have an obligation to notify their manager or the Audit Committee Chairman unless the Code directs otherwise. Violations involving a manager should be reported directly to the Audit Committee Chairman. When a manager receives a report of a violation, it will be the manager’s responsibility to handle the matter in consultation with the Audit Committee’s Chairman. If an Employee reporting a violation wishes to remain anonymous, all reasonable steps will be taken to keep their identity confidential. All communications will be taken seriously and, if warranted, any reports of violations will be investigated.

Procedures Regarding Waivers
Because of the importance of the matters involved in this Code, waivers will be granted only in limited circumstances and where and circumstances would support a waiver. Waivers of the Code may only be made by the Audit Committee.

Compliance with Laws, Rules and Regulations
All Employees are responsible for complying with the various laws, rules and regulations of the countries and regulatory authorities that affect the Company’s business. Questions with respect to your duties under the law should be directed to your manager.

Honest and Fair Dealing
Employees must endeavor to deal honestly, ethically and fairly with the Company’s customers, suppliers, competitors and employees. No Employee should take unfair advantage of anyone through manipulation, concealment, abuse of privilege information, misrepresentation of material facts, or any other unfair-dealing practice.

Conflict of Interest and Corporate Opportunity
Employees must (a) avoid any interest that conflicts or appears to conflict with the interests of the Company or that could reasonably be determined to harm the Company’s reputation and (b) report any actual or potential conflict of interest (including any material transaction or relationship that reasonably could be expected to give rise to such conflict) immediately to manager or an Audit Committee member and adhere to instructions concerning how to address such conflict of interest. A conflict of interest exists if actions by any Employee are, or could reasonably appear to be, influenced directly or indirectly by personal considerations, duties owed to persons or entities other than the Company, or by actual or potential personal benefit or gain.
Employees owe a duty to advance the legitimate interests of the Company when the opportunities to do so arise. Employees may not take for themselves personally opportunities that are discovered through the use of corporate property, information or position.

Confidentiality and Privacy
It is important that employees protect the confidentiality of Company information. Employees may have access to proprietary and confidential information concerning the Company’s business, clients and suppliers. Confidential information includes such items as non-public information concerning the Company’s business, financial results and prospects and potential corporate transactions. Employees are required to keep such information confidential during employment as well as thereafter, and not to use, disclose, or communicate that confidential information other than in the course of employment. The consequences to the Company and the Employee concerned can be severe where there is unauthorized disclosure of any non-public, privileged or proprietary information.
To ensure the confidentiality of any personal information collected and to comply with applicable laws, any Employee in possession of non-public, personal information about the Company’s customers, potential customers, or Employees, must maintain the highest degree of confidentiality and must not disclose any personal information unless authorization is obtained.

Proper Use of Company Assets
The Company’s assets are only to be used for legitimate business purposes and only by authorized Employees or their designees. This applies to tangible assets (such as office equipment, telephone, copy machines, etc.) and intangible assets (such as trade secrets and confidential information). Employees have a responsibility to protect the Company’s assets from theft and loss and to ensure their efficient use. Theft, carelessness and waste have a direct impact on the Company’s profitability. If you become aware of theft, waste or misuse of the Company’s assets you should report this to your manager.

Corporate communications policy
Only certain designated Employees may discuss the Company with the news media, securities analysts and investors. All inquiries from regulatory authorities or government representatives should be referred to the appropriate manager. Employees exposed to media contact when in the course of employment must not comment on rumors or speculation regarding the Company’s activities.

Securities Trading
Because we are a public company we are subject to a number of laws concerning the purchase of our shares and other publicly traded securities. Company policy prohibits Employees and their family members from trading securities while in possession of material, non-public information relating to the Company or any other company, including a customer or supplier that has a significant relationship with the Company.
Information is “material” when there is a substantial likelihood that a reasonable investor would consider the information important in deciding whether to buy, hold or sell securities. In short, any information that could reasonably affect the price of securities is material. Information is considered to be “public” only when it has been released to the public through appropriate channels and enough time has elapsed to permit the investment market to absorb and evaluate the information. If you have any doubt as to whether you possess material nonpublic information, you should contact a manager and the advice of legal counsel may be sought.
Investment by Employees in the Company’s securities is encouraged. In order to protect the Company and its Employees from liability that could result from a violation of legal requirements, the Company requires Employees to engage in purchases or sales of the Company’s stock only during “Window Periods”. Window Periods begin at the opening of trading on the second business day following the date of public disclosure of the financial results for a particular fiscal quarter or year and continuing until the close of market on the fourteenth (14th) day after the last day of the current fiscal quarter. No person may buy or sell the Company’s securities, even during Window Periods, if such person is in possession of material, non-public information.
At any time, the Board of Directors has authority to designate a “blackout period” over all trading in the Company’s securities (even during a Window Period). A blackout period compels all trading in the securities affected to cease immediately for the period designated by the Board of Directors. A blackout period may be exercised over securities of companies with which the Company does or may do business or in which the Company invests or may invest. No one may disclose to any outside third party that a blackout period has been designated.
Failure to comply with the Company’s securities trading policy may subject Employees or Employees’ family members to criminal or civil penalties, as well as to disciplinary action by the Company up to and including termination for cause. Responsibility for complying with applicable laws as well as the Company’s policy rests with Employees individually.

Drugs and Alcohol
Company policy prohibits the illegal use, sale, purchase, transfer, possession or consumption of controlled substances, other than medically prescribed drugs, while on the Company premises. Company policy also prohibits the use, sale, purchase, transfer or possession of alcoholic beverages by Employees while on Company premises, except as authorized by the Company. This policy requires that the company must abide by applicable laws and regulations relative to the use of alcohol or other controlled substances. The Company, in its discretion, reserves the right to randomly test Employees for the use of alcohol or other controlled substances unless prohibited by prevailing local law.
Policies against Discrimination and Harassment
The Company prohibits discrimination against any Employee or prospective Employee on the basis of sex, race, color, age, religion, sexual preference, marital status, national origin, disability, ancestry, political opinion, or any other basis prohibited by the laws that govern its operations.
The Company prohibits unlawful harassment. Employees are expected to treat one another with respect. “Harassment” includes any conduct likely to cause offense or humiliation to any person or that might, on reasonable grounds, be perceived by a reasonable person to place a condition on employment or on any opportunity for training or promotion.

Electronic communication
Electronic communications include all aspects of voice, video, and data communications, such as voice mail, e-mail, fax, and Internet. Employees should use electronic communications for business purposes and refrain from personal use. Among other things, you should not participate in any online forum where the business of the Company or its customers or suppliers is discussed: this may give rise to a violation of the Company’s confidentiality policy or subject the Company to legal action for defamation. The Company reserves the right to inspect all electronic communications involving the use of the Company’s equipment, software, systems, or other facilities (“Systems”) within the confines of applicable local law and Employees should not have an expectation of privacy when using Company Systems.

Integrity of Corporate Records
All business records, expense accounts, vouchers, bills, payrolls, service records, reports to government agencies and other reports must accurately reflect the facts. Without limiting the foregoing, all reports and documents filed with the U.S. Securities and Exchange Commission, as well as other public communications should be full, fair, accurate and understandable.
Employees shall take such action as is reasonably appropriate to: (i) establish and comply with disclosure controls and procedures and accounting and financial controls that are designed to ensure that material information relating to the Company is made known to them; (ii) confirm that the Company’s periodic reports comply with applicable law, rules and regulations; and (iii) ensure that information contained in the Company’s periodic reports fairly presents in all material respects the financial condition and results of operations of the Company.
The books and records of the Company must be prepared with care and honesty and must accurately reflect our transactions. All corporate funds and assets must be recorded in accordance with Company procedures. No undisclosed or unrecorded funds or assets shall be established for any purpose.
The Company’s accounting personnel must provide the independent public accountants and the Audit Committee with all information they request. Employees must not, and must not direct others to, take any action to fraudulently influence, coerce, manipulate or mislead independent public accountants engaged in the audit or review of the Company’s financial statements for the purpose of rendering those financial statements materially misleading.
Employees will not knowingly: (i) make, or permit or direct another to make, materially false or misleading entries in the Company’s, or any of its subsidiary’s, financial statements or records; (ii) fail to correct materially false and misleading financial statements or records; (iii) sign, or permit another person to sign, a document containing materially false and misleading information; or (iv) falsely respond, or fail to respond, to specific inquiries of the Company’s independent auditor or outside legal counsel.

Entertainment, Gifts, Payments and Bribery
Decisions by the Company and its agents relating to the procurement and provision of goods and services should always be free from even a perception that favorable treatment was sought, received or given as the result of furnishing or receiving gifts, favors, hospitality, entertainment or other similar gratuity. The giving or receiving of anything of value to induce such decisions is prohibited. You should never solicit a gift or favor from those with whom we do business. Providing or receiving gifts or entertainment of nominal value motivated by commonly accepted business courtesies is permissible, but not if such gifts or entertainment would reasonably be expect to cause favoritism or a sense of obligation.
No bribes or other similar payments and benefits, directly or indirectly, shall be paid to employees of suppliers or customers.

Compliance with Anti-Trust Laws
The Company’s business may be subject to United States, European Union and other foreign government anti-trust and similar laws. All Employees must comply with such laws and you should confer with your manager whenever you have a question with respect to the possible anti-competitive effect of particular transactions.
Health, Safety and Environmental Protection
The Company will conduct its business in a manner designed to protect the health and safety of its Employees, its customers, the public, and the environment. The Company’s policy is to operate its business and its vessels in accordance with all applicable environmental and safety laws and regulations so as to ensure the protection of the environment and the Company’s personnel and property. All Employees should conduct themselves in a manner that is consistent with this policy. Any departure or suspected departure from this policy must be reported promptly.
Disciplinary process
All employees are required to comply with company’s policy and ethical requirements as described above. Failure to do so shall result in the Company imposing such disciplinary measures as it, in its sole discretion, may deem fit up to and including termination of employment for cause, in accordance with applicable local laws.
The Company will review this Code from time to time and, if necessary, make appropriate additions or changes.


BALTIC DRY INDEX

As can be seen by the below images the Baltic Dry Index has found support and bounced off of it since the beginning of March this year. I predict a slow and steady uptrend in it back to 1,500 by Summer and a possible break to 2,000 by EOY, which should enable Shipping stocks to 5x-10x their current PPS



 

Christodoulou Chatzipavlou 223
Hawaii Royal Gardens Apart. 16
Limassol 3036
Cyprus
357 2 5357767
http://www.castormaritime.com

CTRM
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
CTRM News: Certification by the Exchange Approving Securities for Listing (cert) 03/25/2019 12:28:02 PM
CTRM News: Securities Registration (section 12(b)) (8-a12b) 03/21/2019 04:39:13 PM
CTRM News: Castor Maritime Inc. Announces Time Charter Contract for MV Magic P with Oldendorff Carriers 03/14/2019 05:13:12 PM
CTRM News: Amended Annual and Transition Report (foreign Private Issuer) (20-f/a) 03/01/2019 04:12:43 PM
CTRM News: Castor Maritime Inc. Announces Approval for Listing on Nasdaq 02/07/2019 12:57:16 PM
PlusOneCoin Top Posts
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PostSubject
#114   Squeeze anyday stock1ace1 04/18/19 11:04:59 AM
#113   Looking good again today $CTRM CaptainWeee 04/16/19 12:17:25 PM
#112   Got 5.40s stock1ace1 04/16/19 12:10:32 PM
#111   Yep boom time again TeddyCaswell 04/16/19 11:53:29 AM
#110   Squeeze stock1ace1 04/16/19 11:52:22 AM
#109   * * $CTRM Video Chart 04-12-2019 * * ClayTrader 04/12/19 04:56:43 PM
#108   Looks like someone really doesn’t want this to CollegeGrad22 04/12/19 12:07:45 PM
#107   In 7$ stock1ace1 04/12/19 10:39:54 AM
#106   Let’s see that Famous Maritime100$ Share Price TeddyCaswell 04/12/19 10:15:24 AM
#105   Woahhhh shoot I jumped out at he wrong CaptainWeee 04/12/19 10:08:15 AM
#104   Halted Pending News Hopefully TeddyCaswell 04/12/19 09:54:05 AM
#103   Moving a little today TeddyCaswell 04/12/19 09:46:27 AM
#102   Let today be the day Please TeddyCaswell 04/08/19 09:03:17 AM
#101   Great day for sure today :-) $CTRM CaptainWeee 04/02/19 10:15:29 PM
#100   * * $CTRM Video Chart 04-02-2019 * * ClayTrader 04/02/19 06:14:59 PM
#99   Exciting Day today maybe TeddyCaswell 04/02/19 10:31:17 AM
#98   And a few offerings? for a biotech dinogreeves 03/28/19 09:20:57 AM
#97   BPTH trading at 19 now lol and had UP Trend 03/28/19 09:18:36 AM
#96   BPTH was definitely worth 35. I never dinogreeves 03/28/19 09:14:04 AM
#95   To fuel the squeeze, do you believe HUNT UP Trend 03/28/19 09:10:52 AM
#94   I am not whining, why chase something that dinogreeves 03/28/19 09:02:33 AM
#93   So why you whining that this went from UP Trend 03/28/19 09:00:09 AM
#92   Me, never been in one before? I dinogreeves 03/28/19 08:58:45 AM
#91   It was a low float short squeeze, have UP Trend 03/28/19 08:54:28 AM
#90   That was a dirty close, funny how SEC UP Trend 03/28/19 08:53:06 AM
#89   This is a master mind scam. Couldn't dinogreeves 03/28/19 01:34:29 AM
#88   lyft ipo drops friday js.....glta CASH IS K1N6 03/28/19 12:06:26 AM
#87   Yes, I am trying to make some since Golden_Cross 03/27/19 10:00:02 PM
#86   Horrible end to the day though. Bottom dropped Imarket13 03/27/19 09:58:21 PM
#85   Good grief what a monster here... Golden_Cross 03/27/19 08:16:46 PM
#84   * * $CTRM Video Chart 03-27-2019 * * ClayTrader 03/27/19 05:29:02 PM
#83   Stopped out at $15 - thank you! puffadder 03/27/19 03:58:14 PM
#82   Over 4 mill volume.. only 800k float.. it's Imarket13 03/27/19 01:34:37 PM
#81   Let's see an $18 close!! Yeehaaa ThatBigGuy 03/27/19 01:33:02 PM
#80   Holding up better than most thought I’d say Awl416 03/27/19 01:19:56 PM
#79   Lmao it’s not but it definitely has the CaptainWeee 03/27/19 01:09:40 PM
#78   Is CTRM a VIAGRA/STEROID play?? lmao CHIEF-RISES-ABOVE 03/27/19 12:52:52 PM
#77   Agreed huge deal! $CTRM CaptainWeee 03/27/19 12:41:59 PM
#76   Capital link is the IR for these guys UP Trend 03/27/19 12:36:40 PM
#75   $20+ today boys!!! $CTRM CaptainWeee 03/27/19 12:31:24 PM
#74   Yup, trading in the $12-$14 channel should see CaptainWeee 03/27/19 12:05:13 PM
#73   Record volume... should be a big move Imarket13 03/27/19 11:55:10 AM
#72   Back in, all In. Trading in a channel CaptainWeee 03/27/19 11:54:15 AM
#71   Had a nice pop...sold my $14's at $16.75. retireat40 03/27/19 10:48:15 AM
#70   Capital Link’s 13th Annual International Shipping Forum Monday, April UP Trend 03/27/19 10:30:38 AM
#69   I'm surprised this isnt at 20 yet. Record volume. Imarket13 03/27/19 10:30:09 AM
#68   Just Like Drys 4$to100$ TeddyCaswell 03/27/19 10:14:50 AM
#67   Short Squeeze Cometh TeddyCaswell 03/27/19 10:14:38 AM
#66   Might be offering lol TraderMeZz 03/27/19 09:49:46 AM
#65   Trading halted. Hopefully it keeps going up ThatBigGuy 03/27/19 09:39:07 AM
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