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Limassol, Cyprus - October 10, 2024 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on October 9, 2024, it took delivery of the M/V Magic Ariel, the 2020-built Kamsarmax bulk carrier vessel it had agreed to acquire as previously announced on September 30, 2024. The vessel acquisition was financed in its entirety with cash on hand. The M/V Magic Ariel will be employed under a time charter contract with a minimum duration of about seven months at a gross daily rate equal to 108% of the Baltic Panamax Index 5TC (BPI5TC). 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 13 vessels, with an aggregate capacity of 0.9 million dwt, consisting of four Kamsarmax dry bulk vessels, five Panamax dry bulk vessels, one Ultramax dry bulk vessel, one 1,850 TEU containership vessel, and two 2,700 TEU containership vessels. Castor Maritime press release 
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