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Limassol, Cyprus - August 19, 2024 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on August 16, 2024, it took delivery of the M/V Magic Celeste, the 2015-built Ultramax dry bulk carrier it had agreed to acquire as previously announced on July 25, 2024. The vessel acquisition was financed in its entirety with cash on hand. The M/V Magic Celeste has been fixed on a time charter contract at a gross daily charter rate equal to 111% of the average of the Baltic Supramax Index 10 TC routes. The charter is expected to commence around August 20, 2024, and has a minimum duration of nine months after delivery. 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 11 vessels, with an aggregate capacity of 0.8 million dwt, consisting of three Kamsarmax dry bulk vessels, five Panamax dry bulk vessels, one Ultramax dry bulk vessel and two 2,700 TEU containership vessels. Castor Maritime press release 
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