Castor Maritime Inc (CTRM)

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Castor Maritime is a Major Bulk Carrier $$$

Article: List of major and minor dry bulk commodities

Major dry bulk commodities

With the increased industrial development in Southwest Asia and China, there was a spike in demand for dry bulk cargo. As the name suggests, the transportation for this type of raw materials is responsible for the larger portion of the dry bulk trade, or to be more precise around 67% of the list of total dry bulk commodities. The type of cargo that goes in this category is the following:

Iron ore;
Coal (Coking Coal and Steam Coal);
Grains.
Here is a list of the dry bulk commodities from the major cargo category, and the type of shipping vessel:

Bulk ship name Cargo
Very Large Ore Carrier (VLOC) Iron ore
Capesize Iron ore, coking coal
Panamax Iron ore, coking coal, thermal coal, grain

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Shailaja A. Lakshmi October 20, 2019

Castor Maritime Acquires Third Panamax Bulker
Cyprus-based dry bulk shipping company Castor Maritime has acquired its third Panamax dry bulk carrier for $10.2mln.

The global shipping company specializing in the ownership of dry-bulk vessels informed that through a separate wholly-owned subsidiary, it has entered into an agreement to purchase a 2005 Japan built Panamax dry bulk carrier from a third party in which a family member of Castor’s Chairman, Chief Executive Officer and Chief Financial Officer has an interest.

The acquisition is expected to be consummated by taking delivery of the vessel by the end of October 2019 and is subject to the satisfaction of certain customary closing conditions.

Petros Panagiotidis, Chairman, Chief Executive Officer and Chief Financial Officer of Castor, said: “We are very pleased to announce the acquisition of our third dry bulk carrier. This is the second acquisition since our listing on NASDAQ last February. Consistent with our ambitious growth plan, we remain focused on seeking out future opportunities to expand our fleet in a manner that will be accretive to both our earnings and cash flows.”

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Castor Maritime Buys Secondhand Panamax Bulker
MarineLink October 1, 2020



Dry bulk shipping company Castor Maritime said it reached a deal Monday to purchase a Japanese 2010-built Panamax bulk carrier.

The vessel, which Castor said it acquired from an unaffiliated third party for $13.86 million, is expected to be handed over by mid-October. Castor did not reveal the name of the ship or the seller.

Petros Panagiotidis, who serves as the Cyprus-based company's chairman, CEO and CFO, said, “We are very pleased to announce the expansion of our fleet to six vessels, which signifies the doubling of our fleet size within a quarter’s time. We believe that with this acquisition we have, once again, demonstrated our ability to quickly utilize the capital raised in our recent offerings in a productive and accretive manner.”

Castor was formed in 2017 and it grew its fleet from one to three vessels in 2019, before adding three more in 2020.

“We remain committed to continuing the assessment of the various market opportunities presented to us, and we remain focused on our goal of growing our fleet further while at the same time aiming to maximize shareholder value,” Panagiotidis said.