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Limassol, Cyprus - June 24, 2021 Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”) a diversified global shipping company, announces that the M/V Magic Argo, a 2009 built Kamsarmax dry bulk carrier, following completion of its previous employment contract, has been fixed on a time charter contract earning a daily gross charter rate of $33,000, which commenced on June 23, 2021, with a term of about 100 days. The Company also announces that on June 22, 2021, it took delivery of the M/T Wonder Formosa, the 2006 Korean-built MR1 tanker it had agreed to acquire as previously announced on April 30, 2021. The M/T Wonder Formosa has been entered into Scorpio’s Handy Plus Pool, specializing in the employment of MR1 tanker vessels. The M/T Wonder Formosa acquisition was financed in its entirety with cash on hand. 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 26 vessels, with an aggregate capacity of 2.2 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 10 Panamax dry bulk vessels, as well as 1 Aframax, 5 Aframax/LR2 and 2 MR1 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. Castor Maritime press release 
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