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Limassol, Cyprus - September 10, 2024 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on September 6, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2009-built 1,850 TEU containership vessel from an unaffiliated third-party for a purchase price of $16.49 million. The Company expects to finance the acquisition with cash on hand. The acquisition is expected to be concluded by taking delivery of the vessel by October 2024 and is subject to the satisfaction of certain customary closing conditions. Upon delivery, the vessel will be employed under a time charter contract with a duration of about four months at a gross daily rate of $29,000. About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. Following the completion of the above-mentioned vessel acquisition, Castor will own a fleet of 12 vessels, with an aggregate capacity of 0.9 million dwt, consisting of three Kamsarmax vessels, five Panamax dry bulk vessels, one Ultramax vessel, one 1,850 TEU containership vessel and two 2,700 TEU containership vessels. 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. Castor Maritime press release 
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