Castor Maritime Inc (NASDAQ: CTRM) announces that the M/V Magic Argo, a 2009 built Kamsarmax dry wholesale carrier, following the conclusion of its previous service agreement, has been positioned on a time charter agreement netting a daily gross charter rate of $33,000. The new agreement began on June 23, 2021, with a tenure of about 100 days.
The company takes delivery of M/T Wonder Formosa
The company also announces that on June 22, 2021, it took delivery of the M/T Wonder Formosa, the 2006 Korean-built MR1 transporter it had approved to purchase as of April 30, 2021. The M/T Wonder Formosa has been entered into Scorpio’s Handy Plus Pool, concentrating on the engagement of MR1 tanker receptacles. The company bankrolled the M/T Wonder Formosa purchase in its whole with cash on hand.
Highpoints of the First Quarter Concluded March 31, 2021
Incomes, $7.0 million for the three months completed March 31, 2021, as compared to $2.7 million for the three months concluded March 31, 2020, or a 159% period to period upsurge;
Net revenue/loss: Net revenue of $1.1 million for the three months concluded March 31, 2021, as compared to a net loss of $0.3 million for the three months concluded March 31, 2020, or a 467% period to period upsurge;
Remunerations/Loss per common share(1): $0.02 earnings per share for the three months concluded March 31, 2021, as compared to a loss per share of $0.68 for the three months concluded March 31, 2020, or a 103% period to period upsurge;
EBITDA2): $2.6 million for the three months concluded March 31, 2021, as compared to $0.9 million for the three months concluded March 31, 2020, or a 189% period to period upsurge;
Cash and restricted cash of $64.2 million as of March 31, 2021, as compared to $9.4 million as of December 31, 2020, or a 583% period to period upsurge;
Since the start of this year, Castor announced the procurement of 20 vessels across the dry bulk and tanker divisions.