Castor Maritime Inc. Reports $6.5 Million net profit for the Three Months Ended June 30, 2021 and $7.6 Million net profit for the Six Months Ended June 30, 2021
Limassol, Cyprus, August 11, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”) a diversified global shipping company, announces the acquisition of two dry bulk carrier vessels.
On August 6, 2021, it took delivery of the M/V Magic Pluto , the 2013 Japanese-built Panamax dry bulk carrier it had agreed to acquire as previously announced on May 17, 2021.
On August 9, 2021, it took delivery of the M/V Magic Perseus , the 2013 Japanese-built Kamsarmax dry bulk carrier it had agreed to acquire as previously announced on May 4, 2021.
Both acquisitions were financed in their entirety with cash on hand.
Aug 26
Investor sentiment improved over the past week
After last week’s 16% share price gain to US$2.17, the stock trades at a trailing P/E ratio of 14.9x.
- Average trailing P/E is 12x in the Shipping industry in the US.
- Total returns to shareholders of 32% over the past year.
SimplyWallSt.
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Castor Maritime Inc. Announces New Charter Agreements
Limassol, Cyprus, September 13, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that:
The M/V Magic Nebula , a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $31,750. The charter commenced on September 4, 2021, and has a minimum duration of six months and a maximum duration of eight months (+/- 15 days) at the charterer’s option.
The M/V Magic Moon , a 2005 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $30,250. The charter commenced on August 31, 2021, and has a duration of about 90 days.
The M/V Magic Nova , a 2010 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $32,000 plus a one-time gross ballast bonus of $1,300,000. The charter is expected to commence on or around September 17, 2021, and will have a duration of about 70 days…
I wonder if this will influence the price of shares
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Limassol, Cyprus, December 7, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2006 Korean-built Aframax LR2 tanker from an unaffiliated third-party for a purchase price of $18.15 million. The acquisition is expected to be concluded by taking delivery of the vessel within December and is subject to the satisfaction of certain customary closing conditions.
The vessel will be delivered to the Company with a time charter contract attached, at a daily gross charter rate of $15,000 plus a 50% profit sharing arrangement over such level based on a predetermined formula. The charter has a remaining term of about three months (+/- 15 days).
Closing of Debt Financing
The Company also announces the closing and drawdown, through two of its dry bulk vessel shipowning entities, of a $23.15 million term loan facility, that it had entered into as previously announced on November 8, 2021.
New Charter Agreements
The M/V Magic Twilight , a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $19,000. The charter commenced on November 29, 2021, and has a duration of about 45 days.
The M/V Magic Moon , a 2005 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $17,500. The charter commenced on December 3, 2021, and has a duration of about 60 days…
Castor Maritime Inc.
Limassol, Cyprus, January 5, 2022 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces the deliveries of two vessels.
On December 23, 2021, it took delivery of M/T Wonder Bellatrix, the 2006 Korean-built Aframax LR2 tanker it had agreed to acquire as previously announced on December 20, 2021.
On January 4, 2022, it took delivery of M/V Magic Callisto, the 2012 Japanese-built Panamax dry bulk carrier it had agreed to acquire as previously announced on December 20, 2021.
Both vessel acquisitions were financed in their entirety with cash on hand.
New Charter Agreements
The M/V Magic Horizon, a 2010 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $20,100. The charter commenced on December 20, 2021, and has a duration of about 100 days.
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 $29,000. The charter commenced on December 30, 2021, and has a duration of about 25 days.
- Castor Maritime news release.
Feb 08
Full year 2021 earnings: Revenues and EPS in line with analyst expectations
Full year 2021 results:
- EPS: US$0.48 (up from US$0.26 loss in FY 2020).
- Revenue: US$132.0m (up US$119.6m from FY 2020).
- Net income: US$40.5m (up US$42.3m from FY 2020).
- Profit margin: 31% (up from net loss in FY 2020). The move to profitability was driven by higher revenue.
Revenue was in line with analyst estimates.
- SimplyWallSt.
Looks like they want to focus on containerships in castor. They must see potential profit in the supply chain?.
Toro the new company will focus on 2nd hand acquistions to expand the fleet. Im guessing for drybulk and oil.
Anybody know what happens if i have shares in castor where the shares of toro im given will go?. toro stock is to be listed in december not sure if available on freetrade?. Each 5 shares of castor you receive 2 for toro.
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I dont get this, before wednesday i had 9% in the green with this company. Then they had good earnings on reports of 112% up, but then now my stock is 23% in the red. No idea.
The spin off happened. The decrease in share price reflects the fact that the value of the spin off company is no longer included within the share price since it is now its own entity.
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I just saw it spunoff, not on any news sites but on trusty reddit. Thanks for the help