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

Company: Castor Maritime Inc.
Filing Date: 2025-05-14
Form: 20-F
Item: Item 11
Chunk 14
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 of our business conducted in other currencies could increase in the future, which could increase our exposure to losses arising from exchange rate fluctuations.
 
Through our subsidiary, MPC Capital, we enter from time to time in forward and options agreement to hedge against foreign currency risks. As of December 31, 2024, the fair value of our outstanding derivatives was a net liability of $0.3 million.  In 2024, we recorded a net loss of $0.2 million on our derivatives, presented in other comprehensive income, in the consolidated financial statements included in this Annual Report.
 
Equity price risk
 
Due to the Company’s investments in listed equity securities carried at fair value, equity price fluctuations represent a market risk factor affecting the Company’s consolidated financial position. As of December 31, 2024, our investment in listed equity securities amounted to $69.1 million. The carrying values of investments subject to equity price risks are based on quoted market prices as of the balance sheet date. Market prices fluctuate, and the amount realized in the subsequent sale of an investment may differ significantly from the reported fair value.
 
The following table summarizes the Company’s equity price risks in securities recorded at fair value on a recurring basis as of December 31, 2024, and shows the effects of a hypothetical 25 percent increase and a 25 percent decrease in market prices.
 

         (U.S. dollars)              Fair Value     Hypothetical      Estimated           Estimated         
                                         at          Percentage          Fair              Increase         
                                    December 31,       Change        Value After        /(Decrease) in      
                                        2024                         Hypothetical            Net            
                                                                        Price         Income/(Loss) (1)     
                                                                        Change                              
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Equity securities at fair value   $69,119,010       25% increase       $86,398,763   $17,279,753            
                                                    25% decrease       $51,839,257   $(17,279,753          )

(1)   Changes in unrealized gains and losses on listed equity securities at fair value are included in earnings in the consolidated statements of comprehensive income.
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The following table summarizes the Company’s equity price risks in equity method investments recorded at fair value on a recurring basis as of December 31, 2024, and shows the effects of a hypothetical 25 percent increase and a 25 percent decrease in market prices.
 

   (U.S. dollars)      Fair Value at    Hypothetical       Estimated