# Castor Maritime

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

## History

Castor Maritime was founded in September 2017 in Cyprus, Greece by Petros Panagiotidis 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. 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. 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.
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.
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."

## Castor Maritime Fleet Acquisition

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