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Castor Maritime Inc. Announces Delivery Of The M/V Magic Phoenix And New Charter Agreements

Castor Maritime Inc., a diversified global shipping company, announces that on October 26, 2021, it took delivery of M/V Magic Phoenix, the 2008 Japanese-built Panamax dry bulk carrier it had agreed to acquire as previously announced on August 26, 2021. The vessel acquisition was financed in its entirety with cash on hand.

M/V Magic Phoenix has been fixed on a time charter contract at a gross daily charter rate equal to 102% of the average of the Baltic Panamax Index 4TC routes. The charter is expected to commence on or around October 28, 2021, and will have a minimum duration of eleven months and a maximum duration of fourteen months at the charterer’s option.

The Company also announces that the M/V Magic Venus, a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $38,000. The charter commenced on October 16, 2021, and has a duration of about 60 days.
Source: Castor Maritime Inc.

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