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Castor Maritime

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Castor Maritime Inc.
Company typePublic
FoundedSeptember 2017; 7 years ago (2017-09)
Founders
  • Petros Panagiotidis
  • Dionysios Makris
HeadquartersCyprus
Key people
Georgious Daskalakis
ServicesSeaborne Transportation
RevenueIncrease US$2.067 billion (2023)
Decrease US$−842 million (2023)
Websitecastormaritime.com
Footnotes / references
Financials as of January 31, 2023[1]

Castor Maritime Inc. is a maritime transport global shipping company that delivers unpackaged goods in large quantities in bulk carriers.[2] The company was founded by Petros Panagiotidis in early September 2017 and it is headquartered in Cyprus.[3][4]

Castor Maritime in offers a wide range of commodities such as steel products, cement, raw bauxite, iron ores, coal, scrap metals, sugar, and whole grains. The company owns three types of tanker vessels such as dry bulk, oil tanker vessels (or petroleum tanker) and a LR2 (Long-range 2) type tanker vessels.[5][6]

History

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Castor Maritime was founded in September 2017[7] in Cyprus, Greece by Petros Panagiotidis[8] incorporated under the laws of Marshall Islands. Panagiotidis founded Castor Maritime Inc. in 2017, he is the Chief Financial Officer and Chief Executive Officer and also holds a position in the Board of Directors since the establishment of his company.[9] Panagiotidis graduated from Fordham University with a degree in International Studies and Mathematics and a master's degree in Risk Management from New York University. Dionysios Makris served in the Hellenic Navy as Officer as the Special operations (or Ops Officer) Navigation Admin in 1983 to 1986. From 1998 to 2005, Makris served in Greek military as the commanding officer for the HS KOS and Division officers and Weapons officer. Makris graduated in 2003 from the Hellenic Naval Academy where he received a Master's degree in Military, Strategic and Management studies. During October 1998 to August 2001, he worked as the Radar and Fire Control Engineer for NATO SeaSparrow Project administered by Greece's Defense and Space Industry. In 2005, Makris served as the National Liaison Officer for the Hellenic Navy General Staff at NATO Undersea Research Centre (NURC) Scientific Committee of National Representatives National Liaison Officers and Observers for Maritime Innovation. NURC conducts maritime research in support of new military capabilities for NATO organized into four research areas.[10] In 2011, Dionysios Markris was promoted to the Deputy Chief of Staff for NATO headquarters stationed in Naples. In April 2021, Castor Maritime announced that they raised $125 million in a public offering for Castor Maritime.[11][12]

In April 2021, Castor Maritime announced that it had entered an into an agreement through two subsidiaries from an unaffiliated third-party vendor to purchase two 2005 Korean-built Aframax tanker vessels for $27.2 million.[4][3]

In a statement the Castor Maritime chief executive officer Petros Panagiotidis said, "We are pleased to announce our tenth vessel acquisition in 2021 with the addition of an Aframax tanker to Castor’s fleet. Upon completion of all our recently announced acquisitions, our fleet will consist of sixteen vessels. We constantly monitor the market for attractive acquisition opportunities across vessel sizes and segments."[2]

Castor Maritime Fleet Acquisition

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Image of Tanker Vessel Name Operator Name IMO Number Ship Type Country DWT Year Built
Magic Argo Castor Maritime 9340544[13] Bulk carrier Marshall Islands Marshall Islands 82338 2009
Magic Callisto Castor Maritime 9641704[14] Bulk carrier Marshall Islands Marshall Islands 74930 2012
Magic Eclipse Castor Maritime 9597331 Bulk carrier Marshall Islands Marshall Islands 74940 2011
Magic Horizon Castor Maritime 9553062 Bulk carrier Marshall Islands Marshall Islands 76619 2010
Magic Mars Castor Maritime 9691400 Bulk carrier Marshall Islands Marshall Islands 76822 2014
Magic Moon Castor Maritime 9336036[15] Bulk carrier Marshall Islands Marshall Islands 76602 2005
Magic Nebula Castor Maritime 9471264[16] Bulk carrier Marshall Islands Marshall Islands 80281 2010
Magic Nova Castor Maritime 9425679 Bulk carrier Marshall Islands Marshall Islands 78833 2010
Magic Orion Castor Maritime 9346330 Bulk carrier Marshall Islands Marshall Islands 180200 2006
Magic P Castor Maritime 9288447[17] Bulk carrier Marshall Islands Marshall Islands 76453 2004
Magic Perseus Castor Maritime 9582477[18] Bulk carrier Marshall Islands Marshall Islands 82158 2013
Magic Pluto Castor Maritime 9651280 Bulk carrier Marshall Islands Marshall Islands 74940 2013
Magic Starlight 9687710[19] Bulk carrier Marshall Islands Marshall Islands 80283 2015
Magic Thunder Castor Maritime 9442407[20] Bulk carrier Marshall Islands Marshall Islands 83375 2011
Magic Vela Castor Maritime 9473327[21] Bulk carrier Marshall Islands Marshall Islands 75003 2011
Magic Venus Castor Maritime 9442380[22] Bulk carrier Marshall Islands Marshall Islands 83416 2010

On October 19, 2023, Castor Maritime received a 180-day extension to meet the NASDAQ's $1 per share hold minimum bid requirement, with its deadline reset to April 15, 2024.[6]

References

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  1. ^ "US SEC: Form 10-K Top Ships, Inc". U.S. Securities and Exchange Commission. March 29, 2023.
  2. ^ a b "Castor Maritime Stock Price | CTRM Stock Quote, News, and History | Markets Insider". markets.businessinsider.com. 2023-11-28. Retrieved 2023-12-14.
  3. ^ a b "CTRM: Castor Maritime Inc Stock Price Quote – NASDAQ CM – Bloomberg". Bloomberg.com. Retrieved 2023-12-14.
  4. ^ a b "Castor Maritime Inc. Announces Results of its 2023 Annual General Meeting of Shareholders". markets.businessinsider.com. 2023-11-28. Retrieved 2023-12-14.
  5. ^ "Castor Maritime (CTRM) stock forecast: What's its next port?". capital.com. Retrieved 2023-12-14.
  6. ^ a b "Castor Maritime Inc. (CTRM) Stock Price & Chart | Trade Now". capital.com. Retrieved 2023-12-15.
  7. ^ "Castor Maritime Inc. (CTRM) Stock Price, News, Quote & History – Yahoo Finance". finance.yahoo.com. Retrieved 2023-12-15.
  8. ^ "Exchange Agreement". www.sec.gov. Retrieved 2023-12-15.
  9. ^ "Castor Maritime Inc (CTRM) Stock Price & News". Google Finance. Retrieved 2023-12-15.
  10. ^ "NATO Undersea Research Centre Scientific Committee of National Representatives National Liaison Officers and Observers" (PDF). NATO Undersea Research Centre Partnering for Maritime Innovations. 2005. p. 63. Archived (PDF) from the original on December 17, 2023. Retrieved December 17, 2023.
  11. ^ "Castor Maritime Inc. Announces Pricing of $125.0 Million Registered Direct Offering". www.sec.gov. August 27, 2017.
  12. ^ "Check out Castor Maritime's stock price (CTRM) in real time". CNBC. Retrieved 2023-12-15.
  13. ^ "CECI photo, Bulk Carrier – Taken on Jul 6, 2012 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  14. ^ "MAGIC CALLISTO, Bulk Carrier – Details and current position – IMO 9641704 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  15. ^ "MAGIC MOON, Bulk Carrier – Details and current position – IMO 9336036 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  16. ^ "MAGIC NEBULA photo, Bulk Carrier – Taken on Sep 26, 2022 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  17. ^ "MAGIC P photo, Bulk Carrier – Taken on Feb 1, 2019 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  18. ^ "MAGIC PERSEUS, Bulk Carrier – Details and current position – IMO 9582477 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  19. ^ "MAGIC STARLIGHT, Bulk Carrier – Details and current position – IMO 9687710 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  20. ^ "MAGIC THUNDER photo, Bulk Carrier – Taken on Oct 19, 2020 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  21. ^ "MAGIC VELA, Bulk Carrier – Details and current position – IMO 9473327 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
  22. ^ "MAGIC VENUS, Bulk Carrier – Details and current position – IMO 9442380 – VesselFinder". www.vesselfinder.com. Retrieved 2023-12-21.
[edit]
  • Official website
  • Business data for Castor Maritime Inc.:
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