Castor Maritime Inc. Announces New Charter Agreements

Limassol, Cyprus - October 7, 2021

Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that:

The M/V Magic Orion, a 2006 built Capesize dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $73,000.

The charter is expected to commence on or around October 8, 2021, and will have a duration of about 45 days.

The M/V Magic Eclipse, a 2011 built Panamax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $28,500.

The charter commenced on September 14, 2021, and has a minimum duration of eight months and a maximum duration of ten months (+/- 15 days) at the charterer’s option.

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 27 vessels, with an aggregate capacity of 2.3 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 11 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.

For more information please visit the Company’s website at www.castormaritime.com

Castor Maritime press release