LIMASSOL,
The acquisition is expected to be consummated by taking delivery of the vessel sometime in the end of the first quarter or beginning of the second quarter of this year, after the completion of its scheduled dry docking and special survey that also includes the installation of a ballast water treatment system, and is subject to the satisfaction of certain customary closing conditions.
“We are very pleased that we have been able to quickly utilize our recently raised capital by agreeing to the acquisition of our seventh vessel. We believe it is currently an opportune time to move to larger dry bulk sizes, as we are of the view that these also will attract benefit in the current improving market. We are committed to further expanding our fleet by taking advantage of attractive opportunities presented to us in all vessel sizes and segments, allowing us to achieve our long-term goal of delivering long-term profitability to our shareholders.”
About
Upon completion of this acquisition, the Company's fleet will consist of seven dry bulk carriers.
For more information please visit the company’s website at www.castormaritime.com
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include general dry bulk shipping market conditions, including fluctuations in charter hire rates and vessel values, the strength of world economies the stability of
CONTACT DETAILS
For further information please contact:
Email: ir@castormaritime.com
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Email: castormaritime@capitallink.com
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