Castor Maritime enters joint venture, contributes M/V Magic Starlight for USD 18.75 million and 30% stake

Reuters2026/08/07 13:11

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Castor Maritime formed a joint venture with third-party investors arranged by Fearnley Securities to acquire, own, operate the M/V Magic Starlight.
Contributed the 2015-built Kamsarmax vessel for a 30% equity stake plus USD 18.75 million cash; transaction closed Aug. 6, 2026.
Venture financed with partner equity plus a USD 11.5 million sustainability-linked senior term loan secured by a first-priority vessel mortgage, guaranteed by Castor.
Expects about USD 2.9 million net gain in Q3 2026, excluding transaction-related costs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Castor Maritime Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001140361-26-031765), on August 07, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Castor Maritime enters joint venture, contributes M/V Magic Starlight for USD 18.75 million and 30% stake

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