Castor Maritime Inc. (NASDAQ: CTRM), (Castor), a global shipping company specializing in the ownership of dry bulk vessels, announced Wednesday (Oct 07) that in connection with its previously announced acquisition of a 2010 Japan-built Panamax dry bulk carrier vessel (to be renamed Magic Horizon), the Company has secured employment for the subject vessel by entering into a new charter party contract with an expected term of between ten (10) to fourteen (14) months at a daily gross hire rate of $11,000.
The new charter party is expected to commence a few days following the delivery of the vessel to the Company, which is expected to take place by mid-October 2020.
Following this commercial development, the Company’s fleet employment profile as of today is as follows:
(1) The Magic Nova is expected to be delivered to the Company by mid-October 2020.