Nasdaq-listed bulker owner Castor Maritime has chartered out its latest acquisition for between 10 and 14 months.
The Cypriot company said last week it had bought a 2010-built, Japanese-constructed vessel for $13.68m, bringing its fleet to six ships.
TradeWinds understands this vessel is the 76,600-dwt panamax Faye (built 2010), sold by Soloi of Greece.
The new addition has been renamed Magic Horizon and will earn $11,000 per day.
The deal will start on delivery in mid-October.
The Nasdaq-listed company has now doubled its fleet since the summer, adding three vessels following share issues that have raised $38m.
The sixth ship in the fleet, to be named Magic Nova, will also join in mid-October. The aim is to find term work for this vessel as well, Castor said.
This vessel is said to be the 78,800-dwt Triton Hawk (built 2010). The ship is currently listed in the fleet of Japan's Mitsui OSK Lines.
Charter ending
Castor has one panamax coming off hire at $11,500 per day this month, while three other vessels are booked until December this year, and January and March 2021.
Rates vary from $9,000 per day to $12,500 per day.
Castor posted a loss in the second quarter, but has since benefited from strengthening charter markets.
The shipowner said the net loss for the period ending 30 June was $140,000, against a profit of $270,000 a year ago.
TradeWinds reported earlier on Thursday that the spread between rates for capesizes and panamaxes is said to have exceeded 100%, prompting charterers to cover capesize coal cargoes with the smaller bulkers.
Average capesize freight rates on the Baltic Exchange's five major benchmarks (5TC) are forecast to peak at $27,650 per day in October before declining for the remainder of the year, according to IHS Markit.
Harry Papachristou contributed to this story.
