Castor Maritime Inc (CTRM)

[Out The Window]

Petros Panagiotidis, Chief Executive Officer and Chief Financial Officer of Castor commented:
“We are extremely pleased that, despite the various challenges presented by the ongoing COVID-19 pandemic, we have successfully completed the Magic Rainbow Acquisition, just a few weeks after the conclusion of two capital raising transactions that significantly bolstered our capital structure. The acquisition of the M/V Magic Rainbow together with our previously announced acquisition of our fifth vessel is a testament of our determination to rapidly grow our fleet and create value for our shareholders. We are equally satisfied to have been able to contract, in this volatile market environment, two out of our four vessels at competitive and above breakeven charter hire rates, providing us with further stability and visibility of cash flows.”