The five tankers New York-listed Castor Maritime has purchased en bloc join three other tankers acquired so far in 2021, and will join the fleet by the end of Q2 2021
Castor Maritime was only listed on New York’s Nasdaq in 2017 and has rapidly built up a diversified fleet. The company has now expanded the wet side of its fleet, announcing the purchase of five tankers.
Subsidiaries associated with Castor Maritime have entered into agreements to acquire two 2006 South Korean-built MR1 tankers, two 2004 South Korean-built Aframax/LR2 tankers and one 2002 South Korean-built Aframax/LR2 tanker.
The five tankers are acquired from an unaffiliated third-party for an aggregate purchase price of US$49.25M.
Castor Maritime chief executive Petros Panagiotidis commented, “We are excited to announce our largest purchase transaction thus far, with the en bloc acquisition of five tankers. Since our entry into the tanker market earlier this year, we have managed to swiftly grow our tanker fleet to eight vessels.”
He added, “Upon completion of all our recently announced acquisitions, our fleet will consist of 23 vessels, establishing our company with a diverse fleet of 15 bulkers and eight tankers. This diversification allows us to pursue attractive opportunities across different shipping sectors.”
Castor Maritime has not named the tankers in the latest round of purchases, but according to VesselsValue, the purchases consist of: MR1 tanker Sikinos, MR1 tanker Skyros, LR2 tanker Agathonissos, LR2 tanker Alonissos, and LR2 tanker Megalonissos. All five were purchased from Eletson Corp.
Earlier 2021 tanker acquisitions by Castor Maritime include 2005-built Aframax tanker Davis Sea from Eastern Pacific Shipping, and the pair of 2005-built LR2 tankers Dubai Harmony and Dubai Hope from Dubai Navigation.