Castor Maritime Inc. - CTRM STOCK NEWS

Castor Maritime Inc. (NASDAQ: CTRM) has filed its annual report on Form 20-F with the SEC, detailing audited financial statements for the fiscal year ended December 31, 2021. The report is available on the SEC website and the company’s website in the 'Investors' section. Castor operates a fleet of 29 vessels, providing shipping transportation services globally.

Castor Maritime Inc. (NASDAQ: CTRM) announced the securing of time charter contracts for three dry bulk carriers. The M/V Magic Moon commenced on March 6, 2022, at a gross daily rate of $25,000 for 30 days. The M/V Magic Argo is set to start on April 4, 2022, at a rate indexed to the Baltic Panamax Index for a minimum of 12 months. Lastly, the M/V Magic Venus will begin on April 15, 2022, also linked to the Baltic Index for approximately 13 months. Castor owns 29 vessels with a total capacity of 2.5 million dwt.

Castor Maritime Inc. (NASDAQ: CTRM) reported significant growth in its financial performance for Q4 and the year ended December 31, 2021. Revenues surged to $60 million in Q4 2021 from $4.4 million in Q4 2020. The company posted a net income of $29.2 million compared to a net loss of $0.8 million a year earlier. For the full year, revenues reached $132 million, up from $12.5 million, with net income of $52.3 million versus a net loss of $1.8 million. Castor expanded its fleet to 29 vessels, quadrupling its size since 2020, and maintained a strong cash position of $43.4 million.

Castor Maritime Inc. (NASDAQ: CTRM) has successfully closed a $55.0 million senior term loan with a European bank, secured by five of its dry bulk vessel subsidiaries. This financing, with a five-year term and interest at SOFR plus 3.15%, aims to support the company’s growth plans. Additionally, the M/V Magic Callisto has secured a time charter with a gross daily rate of 101% of the Baltic Panamax Index, starting January 12, 2022. This marks a significant advancement in Castor's capital structure and strategic objectives.

Castor Maritime Inc. (NASDAQ: CTRM) has announced the delivery of two vessels: the Aframax tanker M/T Wonder Bellatrix on December 23, 2021, and the Panamax dry bulk carrier M/V Magic Callisto on January 4, 2022. Both acquisitions were financed entirely with cash. Additionally, the company has secured new charter agreements for two vessels, generating daily gross rates of $20,100 and $29,000, respectively. Castor operates a fleet of 29 vessels with a total capacity of 2.5 million dwt, including various types of dry bulk carriers and tankers.

Castor Maritime Inc. (NASDAQ: CTRM) announced the acquisition of a 2012 Japanese-built Panamax dry bulk carrier for $23.55 million. This transaction was approved by a special committee of independent directors. The acquisition will be finalized post-dry docking and installation of a ballast water treatment system. Additionally, the company has secured a new charter agreement for the M/V Magic Mars, commencing December 6, 2021, with a gross daily rate based on 91% of the Baltic Panamax Index. Following these developments, Castor will operate a fleet of 29 vessels with a capacity of 2.5 million dwt.

Castor Maritime Inc. (NASDAQ: CTRM) announced the acquisition of a 2006 Korean-built Aframax LR2 tanker for $18.15 million, expected to be finalized in December 2021. The tanker comes with a time charter at $15,000 per day, including a 50% profit-sharing arrangement, with about three months remaining on the contract. Additionally, the company secured a $23.15 million term loan facility and has fixed two dry bulk carriers on time charter agreements with gross daily rates of $19,000 and $17,500, further enhancing its shipping operations.

Castor Maritime Inc. (NASDAQ: CTRM) held its 2021 Annual General Meeting on November 30, 2021, in Limassol, Cyprus. During this meeting, shareholders approved two key proposals: the re-election of Mr. Georgios Daskalakis as Class A Director until the 2024 AGM and the appointment of Deloitte as independent auditors for the fiscal year 2021. Castor Maritime operates a fleet of 27 vessels, totaling 2.3 million deadweight tons, specializing in dry bulk and tanker shipping.

Castor Maritime Inc. (NASDAQ: CTRM) has announced significant time charter contracts for multiple vessels. The M/V Magic Nova and M/V Magic Pluto will receive charters at rates equal to 92% of the average Baltic Panamax Index, commencing on November 17 and December 7, 2021, respectively. The M/V Magic Orion is set for a charter starting around November 21, 2021, at 101% of the average Baltic Capesize Index. Additionally, M/V Magic Vela will start a 45-day charter at $19,000 per day plus a bonus. All contracts have minimum durations of eleven months.