Limassol-based Nasdaq-listed shipowner and operator Castor Maritime (CTRM) sold 2007 built panamax bulk carrier 73K DWT MV Magic Rainbow for around $12 million. Petros Panagiotidis-led shipowner Castor Maritime (CTRM) anticipates banking a net gain of $4.4 million from the sale of MV Magic Rainbow. Cyprus-based shipowner and operator Castor Maritime sells the first bulk carrier for a profit after a tremendous ship acquisition. Lately, Castor Maritime (CTRM) split off the company’s tankers into the new spin-off Toro Corp. Currently, Nasdaq-listed shipowner and operator Castor Maritime owns and operates nineteen (19) bulk carriers and two (2) container ships. 21-March-2023
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime (CTRM) reported net earnings of $33.7 million in Q4 2022. Castor Maritime (CTRM) reported revenue of $69.3 million in Q4 2022. Lately, Castor Maritime (CTRM) split off the company’s tankers into the new spin-off Toro Corp. Petros Panagiotidis-led tanker and bulk carrier shipowner Castor Maritime’s (CTRM) shareholders receive stock in start-up Toro Corp following best-ever year. Castor Maritime (CTRM) reported an annual profit of $118.6 million for 2022. Castor Maritime (CTRM) has reported the company’s best-ever profit at the same time as conducting the spin-off of the company’s new tanker company Toro Corp. Currently, Nasdaq-listed shipowner and operator Castor Maritime owns and operates twenty (20) bulk carriers and two (2) container ships. 14-March-2023
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime (CTRM) reveals tanker spin-off plan. Petros Panagiotidis-led tanker and bulk carrier shipowner Castor Maritime is planning a spin-off of the company’s tanker fleet after diversifying from bulk carriers in 2021. Cyprus-based shipowner and operator Castor Maritime has been expanding the fleet since 2020. Castor Maritime Inc.’s BOD (Board of Directors) wants to split off the company’s tanker into a new company. Nasdaq-listed shipowner and operator Castor Maritime names the new spin-off Toro Corp. Currently, Nasdaq-listed shipowner and operator Castor Maritime owns and operates a mixed fleet of 28 vessels. 22-November-2022
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime reported a net profit of $27.8 million in Q2 2022. Castor Maritime reported a net profit of $6.5 million in Q2 2021. Petros Panagiotidis-led Castor Maritime increased fleet growth in 2021. Furthermore, Nasdaq-listed shipowner and operator Castor Maritime reported revenue of $67.5 million in Q2 2022. Limassol-based Nasdaq-listed shipowner and operator Castor Maritime owns and operates both tankers and bulk carriers. 10-August-2022
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime reported a net profit of $29 million in Q4 2021. Petros Panagiotidis-led shipowner and operator Castor Maritime acquired 23 ships in 2021. Castor Maritime reported revenue of $60 million in Q4 2021. Castor Maritime reported a profit of $40 million in Q4 2021. Castor Maritime has grown exponentially. Castor Maritime profited from a healthy liquidity position and low leverage. Castor Maritime pursues appealing ship investment prospects to pursue a growth strategy. Currently, Limassol-based Nasdaq-listed shipowner and operator Castor Maritime owns and operates a mixed fleet of 29 vessels. 7-February-2022
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime has raised another $18 million to fund planned ship acquisitions. $18 million senior term loan was secured by two of its tankers. Castor Maritime is planning to use $18 million for general corporate purposes and ship acquisitions. Previously, Nasdaq-listed shipowner and operator Castor Maritime boosted most of its capital through stock issues. In May, Limassol-based shipowner and operator Castor Maritime acquired 2013 built kamsarmax bulk carrier 82K DWT MV Peak Proteus for around $21 million. Since July 2020, Castor Maritime acquired 21 vessels. Currently, Castor Maritime owns 24 bulk carriers and tankers. 10-May-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime acquired another 2011 built panamax bulk carrier for around $14 million. Castor Maritime is going to take the Chinese-built panamax bulk carrier in May 2021. Petros Panagiotidis-led shipowner and operator Castor Maritime spent $228 million to acquire 15 ships since Q3 2020. Castor Maritime wants to take advantage of the current strong market demand for dry bulk carriers. Nasdaq-listed shipowner and operator Castor Maritime is holding significant capital on hand. In April 2021, Castor Maritime started a new round of fundraising via a securities purchase agreement with Maxim Group. Currently, Limassol-based Castor Maritime owns and operates 15 bulk carriers and 3 tankers. 29-April-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime acquired another 2015 built kamsarmax bulk carrier. Castor Maritime paid around million $23 million for 2015 built kamsarmax bulk carrier. Castor Maritime published the kamsarmax bulk carrier will be delivered with an index-linked time charter contract attached. Since the beginning of 2021, Limassol-based shipowner and operator Castor Maritime acquired eleven (11) ships and spent over $175 million on acquisitions. Castor Maritime has been looking for further opportunities to grow its fleet. Currently, Nasdaq-listed shipowner and operator Castor Maritime a mixed fleet of 17 ships. 19-April-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime acquired another 2011 built panamax bulk carrier. This is the ninth bulk carrier of Castor Maritime since the beginning of 2021. Petros Panagiotidis-led Castor Maritime paid around $18 million for a Japanese-built panamax bulk carrier. Castor Maritime concentrates on expanding its fleet through well-timed acquisitions. Since the beginning of 2021, Castor Maritime spent over $135 million for secondhand ship acquisition. Castor Maritime would issue 192 million of its common shares and warrants. Currently, Castor Maritime owns and operates 13 bulk carriers and 2 tankers. 11-April-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime reported a loss for 2020. Furthermore, Castor Maritime reported a net loss of $0.8 million for Q4 2020. In Q4 2020, Castor Maritime took delivery of two (2) bulk carriers. Currently, shipowner and operator Cypriot Castor Maritime owns and operates six (6) large bulk carriers. Furthermore, since the beginning of 2021, Limassol-based Nasdaq-listed shipowner and operator Castor Maritime spent more than $100 million on secondhand tankers and bulk carriers. Notwithstanding the challenges due to the post-coronavirus recession, Castor Maritime proceeded on growth policy. As a diversification strategy, Castor Maritime entered into the tanker segment. 30-March-2021
Limassol-based Nasdaq-listed shipowner and operator Castor Maritime acquired a bulk carrier for around $15 million. Since the beginning of 2021, Cyprus-based Castor Maritime acquired seven ships and spent over $100 million. CEO Petros Panagiotidis-led Castor Maritime focus on growing fleet through well-timed purchases of ships across all segments.
In January 2021, Cyprus-based Castor Maritime acquired a 2006 built capesize bulk carrier and entered into capesize segment. Lately, Castor Maritime acquired two (2) LR2 tankers and entered into tanker market. Currently, Limassol-based Nasdaq-listed shipowner and operator Castor Maritime has a mixed fleet of 13 vessels. 10-March-2021
Limassol based Nasdaq-listed shipowner and operator Castor Maritime acquired a second kamsarmax bulk carrier in a week. Petros Panagiotidis-led shipowner and operator Castor Maritime acquired a 2009 built kamsarmax bulk carrier for around $14 million. Including the latest acquisition, Castor Maritime spent around $50 million in the secondhand dry bulk market this week. Last week, Castor Maritime acquired 2010 built kamsarmax bulk carrier 83K DWT MV Key Evolution for around $16 million from Japanese shipowner and operator Tokei Kaiun. According to Castor Maritime, attractive opportunities are offered in all ship sizes and segments. Cyprus based Castor Maritime has been firmly expanding the fleet. Currently, Castor Maritime has a fleet of nine (9) bulk carriers. 3-February-2021
Limassol based Nasdaq-listed shipowner and operator Castor Maritime acquired 2016 built capesize bulk carrier for around $17 million. Petros Panagiotidis led Cypriot shipowner and operator Castor Maritime has a fleet of panamax bulk carriers and Castor Maritime moved up to capesize league with the acquisition of the first capesize bulk carrier. Castor Maritime has not declared the name of the acquired capesize bulk carrier. Cyprus-based shipowner and operator Castor Maritime has recently raised capital. Lately, the Japanese built modern capesize bulk carriers fetches premium prices amid the new-year market boom. According to Castor Maritime, the dry bulk shipping market is going to improve. Castor Maritime aims to further expand the fleet by taking advantage of second-hand opportunities. Strong capesize spot rates and a positive FFA capesize market have led to increased market confidence in the capesize sector. Castor Maritime’s newly acquired capesize bulk carrier is scheduled to undergo dry-docking and capesize bulk carrier is going to be installed a ballast water treatment system (BWTS) before its delivery. Currently, Castor Maritime has a fleet of seven (7) large bulk carriers. 20-January-2021
Limassol based Nasdaq-listed shipowner and operator Castor Maritime acquired 2010 built panamax bulk carrier for around $14 million. Since the beginning of summer 2020, Castor Maritime acquired three (3) bulk carriers after raising $38 million from stock markets. Castor Maritime quickly utilize the $38 million capital productively raised in share offerings. 2010 Japanese built panamax bulk carrier will be delivered to Castor Maritime in the mid of October. Castor Maritime CEO Petros Panagiotidis announced the expansion of the fleet. According to Castor Maritime, the company concentrated on expanding the fleet further while maximizing shareholder value. Castor Maritime aims to benefit from second-hand market opportunities. In Q2 2020, Castor Maritime reported a net loss due to the post-coronavirus recession. However, Castor Maritime has since profited from increasing charter markets. Currently, Castor Maritime owns and operates six (6) bulk carriers. 1-October-2020
Limassol based Nasdaq-listed shipowner and operator Castor Maritime reported a net loss of $140,000 in Q2 2020. However, Castor Maritime has since benefited from rising bulk carrier markets. Castor Maritime reported revenue of $2.5 million in Q2 2020. Meanwhile, Castor Maritime added two (2) secondhand bulk carriers to the fleet following share issues to raise cash in the Nasdaq. In Q2 2020, Castor Maritime reported daily TCE (Time Charter Equivalent) of $9,090 per ship. Petros Panagiotidis led Greek shipowner and operator Castor Maritime’s two (2) bulk carriers were hit by exposure to lower spot charter rates on renewing charters due to the post-coronavirus recession. Nevertheless, from June 2020 onwards, Castor Maritime has seen a rebound in charter rates for panamax bulk carriers and Castor Maritime has been able to recharter panamax bulk carriers at improved charter rates. In the mid of post-coronavirus recession, Castor Maritime has been able to raise substantial capital which Castor Maritime has partly utilized for the fleet expansion of fleet and growth plans. Cyprus-based shipowner and operator Castor Maritime aims to take advantage of further growth possibilities. 12-September-2020
Limassol based shipowner and operator Castor Maritime chartered out 2001 built panamax bulk carrier 75K DWT MV Magic Sun to Ausca Shipping $12,500 per day for four months. Chartering out a panamax bulk carrier to Hong Kong-based Ausca Shipping means Nasdaq-listed owner Castor Maritime has secured a stable charterer for its expanding bulker fleet. In July 2020, Castor Maritime bought 2010 built panamax bulk carrier for around $13 million. In June 2020, Castor Maritime bought 2007 built panamax bulk carrier 74K DWT MV Magic Rainbow from New York-listed Diana Shipping. Castor Maritime chartered out MV Magic Rainbow at $10,300 per day for five months. Cyprus based shipowner and operator Castor Maritime’s CFO Petros Panagiotidis is satisfied to complete the MV Magic Rainbow acquisition in the post-coronavirus recession. 13-August-2020
Limassol based shipowner and operator Castor Maritime reported a net loss of $259K in Q1 2020. Even though revenues increased to $2.7 million, expenses increased to $1.39 million in Q1 2020. Petros Panagiotodis-led shipowner and operator Castor Maritime is satisfied with the company’s Q1 2020 performance. Castor Maritime’s chartering tactics have protected the company in Q1 2020 from a soft spot charter market due to coronavirus pandemic. Castor Maritime has a $13 million cash reserve for a continued weaker shipping market and future opportunities. Nasdaq listed shipowner and operator Castor Maritime (CTRM) has reported daily time charter equivalent (TCE) of $12,008 in Q1 2020. Currently, Castor Maritime’s stocks are trading below minimum listing requirements. 2-June-2020
Limassol based Nasdaq-listed shipowner and operator Castor Maritime got more time to comply with Nasdaq minimum listing requirements. Cyprus-based Castor Maritime’s share price is too low, but Nasdaq will be flexible on minimum compliance during the corona-virus pandemic. Nasdaq posted a written notification to Castor Maritime that the company’s stock had been below $1 for 30 business days. Nasdaq informed Castor Maritime that due to the Covid-19 pandemic, temporary relief has been granted. Petros Panagiotidis led Cypriot shipowner and operator Castor Maritime aims to observe the common stock during the compliance period. Furthermore, Castor Maritime is reconsidering its options to regain compliance with the Nasdaq Capital Market minimum $1 stock price requirement. According to Nasdaq Capital Market regulations, Castor Maritime must bring stock price back above $1 for 10 straight working days. If a company cannot bring the stock price back above $1, that company may still be eligible for another 180-day grace period. Usually, in this situation, Nasdaq-listed companies carry out a stock split to boost the price by cutting the number of shares. In Q4 2019, Cyprus-based shipowner and operator Castor Maritime reported a $530,000 profit. 19-April-2020
Limassol based Nasdaq-listed shipowner and operator Castor Maritime acquired 2009 built kamsarmax bulk carrier 81K DWT MV Olympic Galaxy for around $13 million from Greek Aristotle Onassis company Olympic Shipping & Management. 9-March-2020
Limassol based Nasdaq-listed shipowner and operator Castor Maritime has reported a $530,000 profit for Q4 2019. Petros Panagiotidis-led Cypriot shipowner and operator Castor Maritime’s, which also trade on the Norwegian OTC (Over The Counter), increased to $1.43. Castor Maritime has reported a revenue of $2.8 million for Q4 2019. Last year, Cyprus-based shipowner and operator Castor Maritime acquired a 2001 built panamax bulk carrier 75K DWT MV Magic Sun and a 2005 built panamax bulk carrier 76K DWT MV Magic Moon. Castor Maritime chartered out 75K DWT MV Magic Sun to Oldendorff Carriers. Castor Maritime chartered out 76K DWT MV Magic Moon to United Shipping Lines. Castor Maritime has been pleased to report a profitable Q4 2019 on the first year at Nadsaq. Cyprus-based shipowner and operator Castor Maritime charters out the bulk carriers on medium terms that supported Castor Maritime to remain profitable. Cyprus-based shipowner and operator Castor Maritime has another 2004 built panamax bulk carrier 76K DWT MV Magic P in fleet. 8-March-2020
Cyprus based shipowner and operator Castor Maritime has agreed to an $11 million secured term loan facility with Greece’s Alpha Bank. $11 million secured term loan would be used to retire Castor Maritime’s $7.5 million existing shareholder bridge loan and to fund ongoing plans for fleet expansion. Recently, Petros Panagiotidis led Castor Maritime to increase fleet size with panamax bulk carrier acquisition. $11 million secured term loan was obtained through two of Castor Maritime’s shipowning subsidiaries, is expected to be drawn down before the end of 2019. Limassol based Castor Maritime will bear interest at 3.50% plus LIBOR per annum with a tenor of five (5) years. In October 2019, Castor Maritime acquired 2005 built panamax bulk carrier for $10.2 million. Limassol based shipowner and operator Castor Maritime was established in 2017 and listed on Nasdaq in February 2019. After listing on Nasdaq, Castor Maritime acquired 2001 built panamax bulk carrier 75K DWT MV Magic Sun and 2004 built panamax bulk carrier 76K DWT MV Magic P. Both MV Magic P and MV Magic Sun are chartered out to German bulker giant Oldendorff. 1-December-2019
Limassol based Nasdaq-listed shipowner and operator Castor Maritime acquired 2005 built panamax bulk carrier 76K DWT MV Magic Moon for around $10 million. MV Magic Moon was built in Japan. Castor Maritime increased the fleet size with panamax acquisition. This is the second bulk carrier acquisition since Castor Maritime listed on Nasdaq in February 2019. Petros Panagiotidis-led Cypriot shipowner and operator Castor Maritime has an aggressive growth plan. Castor Maritime is looking for future opportunities to expand the fleet. Before the acquisition of MV Magic Moon, Castor Maritime has two panamax bulk carriers in the fleet MV Magic P and MV Magic Sun. Currently, Castor Maritime chartered out MV Magic P and MV Magic Sun to Oldendorff. 16-October-2019
Limassol based Nasdaq-listed shipowner and operator Castor Maritime has settled dividend obligation with preferred shareholders. Cyprus-based shipowner and operator Castor Maritime is to issue 300K common shares to holders of its 9.75% Series A cumulative redeemable perpetual preferred shares to settle a dividend obligation. Castor Maritime shareholders will receive the new shares in exchange for the waiver of about $4.3 million worth of dividends accumulated on the preferred shares since issuance in June 2019. Castor Maritime’s series A preferred shareholders have also agreed to waive all dividend obligations for the period from 1 July 2019 until Q4 2021. 14-October-2019
Limassol based Nasdaq-listed shipowner and operator Castor Maritime chartered out 2001 built panamax bulk carrier 75K DWT MV Magic Sun to Oldendorff Carriers for around a year at a daily hire rate of $12,000. Castor Maritime is going to receive around $4 million. In July 2019, Castor Maritime acquired the 2001 built panamax bulk carrier 75K DWT MV Magic Sun for around 8 months at a daily hire rate of $11,250. Additionally, Cyprus-based shipowner and operator Castor Maritime chartered out 2004 built panamax bulk carrier 76K DWT MV Magic P to Oldendorff Carriers. Castor Maritime has doubled the size of the fleet with the target of increasing annual cash flows and shareholder value. 8-September-2019
Limassol based Nasdaq-listed shipowner and operator Castor Maritime has reported $2 million of revenue for the first half of 2019. Furthermore, Castor Maritime has reported an operating income of $317,000. Petros Panagiotidis-led Cypriot shipowner and operator Castor Maritime believe that the dry bulk market will be rewarding in the years to come. Castor Maritime has focused on taking advantage of market opportunities to enlarge the fleet. Cyprus-based shipowner and operator Castor Maritime began trading on the Nasdaq Capital Market on 11 February 2019 under the ticker symbol CTRM. 3-June-2019
Petros Panagiotidis led Cypriot shipowner and operator Castor Maritime will begin trading on the Nasdaq on 11 February 2019 under the ticker symbol CTRM. Currently, Castor Maritime owns only 2004 built panamax dry bulk carrier 76K DWT MV Magic P. Since mid-2015, no shipping company has successfully completed a conventional Initial Public Offering (IPO) in New York. Greek shipowner and operator Castor Maritime’s shares on the Norwegian over-the-counter (OTC) market will continue trading. 7-February-2019