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Limassol, Cyprus - April 16, 2021 Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2005 Korean-built Aframax tanker from an unaffiliated third-party for a purchase price of $14.8 million. The acquisition is expected to be consummated by taking delivery of the vessel within the second quarter of this year and is subject to the satisfaction of certain customary closing conditions. Petros Panagiotidis, Chief Executive Officer of Castor, commented: "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." About Castor Maritime Inc. Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. On a fully delivered basis, Castor will own a fleet of 16 vessels, with an aggregate capacity of 1.5 million dwt, consisting of 1 Capesize, 5 Kamsarmax, and 7 Panamax dry bulk vessels, as well as 1 Aframax and 2 Aframax/LR2 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions. For more information please visit the Company’s website at www.castormaritime.com Castor Maritime press release 
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