Company: CTRM
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001140361-25-018945
Chunk: 30

Company: Castor Maritime Inc.
Filing Date: 2025-05-14
Form: 20-F
Item: Item 18
Chunk 30
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Item 18. Financial Statements.

” This discussion contains forward-looking statements that involve risks, uncertainties, and assumptions. See “

Cautionary

Statement Regarding Forward-Looking Statements.

” Actual results, cash flows, financial position, events or conditions may differ materially from those anticipated in these forward-looking statements as a result of many factors, including
those set forth in “

Item 3. Key Information - D. Risk Factors.”

  OPERATING RESULTS  

Business Overview and Fleet Information

Following the acquisition of MPC Capital on December 16, 2024, we determined that as of December 31, 2024, we operated in three reportable segments, from
two segments that operated as of December 31, 2023: (i) the dry bulk segment (ii) the containership segment and (iii) the asset management segment. These reportable segments reflect our internal organization and
the way our chief operating decision maker (“ CODM”), who is the Chief Executive Officer of the Company, reviews and analyzes the operating results and allocates capital within the Company. The CODM assesses segment performance using key financial
measures, including revenues, operating expenses, segment operating income and net income. These metrics help the CODM assess segment profitability, optimize fleet deployment (where applicable), control costs and determine capital allocation.
Based on these segment performance trends, the CODM makes resource allocation decisions such as adjusting asset acquisition strategies, chartering strategies, prioritizing fleet expansion or disposals (where applicable), and optimizing cost
efficiencies to enhance profitability and overall segment performance. Further, the transport of dry bulk cargoes and containerized cargoes has different characteristics and the nature of trade, trading routes, charterers and cargo
handling differs in important respects.. MPC Capital provides asset management services and it does not have similar business and economic characteristics to the other two segments. We do not disclose geographic
information relating to our segments because when we charter a vessel to a charterer, the charterer is free, subject to certain exemptions, to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.
For the asset management disclosure of geographic information refer to Note 19 included in this Annual Report.

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Table of Contents

Principal factors impacting our business, results of operations and financial condition

Our results of operations are affected by numerous factors. The principal factors that have impacted the business during the fiscal periods presented in the following discussion and analysis and
that are likely to continue to impact our business