Castor Maritime Inc 6-K, filed Nov 18, 2021
Castor Maritime Inc. (CTRM)
6-K
2021-11-18
For: 2021-11-30
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Added on
April 06, 2026
About this 6-K
Castor Maritime Inc filed this 6-K on November 18, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2021
Commission File Number: 001-38802
CASTOR MARITIME INC.
(Translation of registrant’s name into English)
223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b) (1) only permits
the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not
been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this report on Form 6-K as Exhibit 99.1 is a copy of the press release issued by Castor Maritime Inc. (the “Company”) on November 18, 2021,
announcing time charter contract arrangements for the M/V Magic Nova, the M/V Magic Orion, the M/V Magic Vela, and the M/V Magic Pluto.
Tthe information contained in this report on Form 6-K and the exhibit attached hereto are hereby incorporated by reference into the Company's
registration statements on Form F-3 (File Nos. 333-238990, 333-240262 and 333-254977) that were declared effective on September 23, 2020, September 23, 2020 and April 1, 2021, respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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CASTOR MARITIME INC.
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Dated: November 18, 2021
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By:
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/s/ Petros Panagiotidis
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Petros Panagiotidis
Chairman, Chief Executive Officer and
Chief Financial Officer
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Exhibit 99.1
Castor Maritime Inc. Announces New Charter Agreements
Limassol, Cyprus, November 18, 2021 – Castor Maritime Inc. (NASDAQ:
CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that:
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 equal to 92% of the average of the Baltic Panamax Index 5TC routes1. The charter commenced on November 17, 2021, and has a minimum duration of eleven months
and a maximum duration of about fourteen months (+/- 15 days) at the charterer’s option.
The M/V Magic Orion, a 2006 built Capesize dry bulk
carrier, has been fixed on a time charter contract at a gross daily charter rate equal to 101% of the average of the Baltic Capesize Index 5TC routes2. The charter is expected to commence on or around November 21, 2021, and will have a
minimum duration of eleven months and a maximum duration of fourteen months at the charterer’s option.
The M/V Magic Vela, a 2011 built Panamax dry bulk
carrier, has been fixed on a time charter contract at a gross daily charter rate of $19,000 plus a one-time gross ballast bonus of $550,000. The charter is expected to commence on or around November 29, 2021, and will have a duration of about 45
days.
The M/V Magic Pluto, a 2013 built Panamax dry bulk
carrier, has been fixed on a time charter contract at a gross daily charter rate equal to 91% of the average of the Baltic Panamax Index 5TC routes1. The charter is expected to commence on December 7, 2021, and will have a minimum duration
of eleven months and a maximum duration of about fourteen months (+/- 15 days) at the charterer’s option.
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The benchmark vessel used in the calculation of the average of the Baltic Panamax Index 5TC routes is a non-scrubber fitted 82,500mt dwt vessel (Kamsarmax) with specific age, speed
- consumption, and design characteristics.
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The benchmark vessel used in the calculation of the average of the Baltic Capesize Index 5TC routes is a non-scrubber fitted 180,000mt dwt vessel with specific age, speed -
consumption, and design characteristics.
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About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.
Castor owns a fleet of 27 vessels, with an aggregate capacity of 2.3 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 11 Panamax dry bulk
vessels, as well as 1 Aframax, 5 Aframax/LR2 and 2 Handysize tankers.
For more information please visit the Company’s website at www.castormaritime.com
Information on our website does not constitute a part of this press release.
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. We desire to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995 and are 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 our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include general dry bulk and tanker shipping market conditions, including fluctuations in charter hire rates and vessel values, the strength of world economies the stability of Europe and the Euro,
fluctuations in interest rates and foreign exchange rates, changes in demand in the dry bulk and tanker shipping industry, including the market for our vessels, changes in our operating expenses, including bunker prices, dry docking and insurance
costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes
due to accidents or political events, the length and severity of the COVID-19 outbreak, the impact of public health threats and outbreaks of other highly communicable diseases, the impact of the expected discontinuance of LIBOR after 2021 on interest
rates of our debt that reference LIBOR, the availability of financing and refinancing and grow our business, vessel breakdowns and instances of off-hire, potential exposure or loss from investment in derivative instruments, potential conflicts of
interest involving our Chief Executive Officer, his family and other members of our senior management, and our ability to complete acquisition transactions as planned. Please see our filings with the Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments
occurring after the date of this communication.
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CONTACT DETAILS
For further information please contact:
Petros Panagiotidis
Castor Maritime Inc.
Email: ir@castormaritime.com
Media Contact:
Kevin Karlis
Capital Link
Email: castormaritime@capitallink.com
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