Sunday, June 29, 2025
Home News Cypriot shipping company enters container sector with boxship pair acquisition

Cypriot shipping company enters container sector with boxship pair acquisition

Cyprus-based shipping company Castor Maritime has announced the acquisition of two container vessels aiming to enter the container sector.

Two of Castor Maritime’s wholly-owned subsidiaries each entered into two separate agreements to acquire a 2005 German-built 2,700 TEU container ship from two separate entities beneficially owned by family members of Petros Panagiotidis, the company’s chairman, CEO and CFO.

Several reports point to the container ships Ariana A and Gabriela A, which were acquired last year by Pavimar of Panagiotidis’ sister Ismini Panayotides.

The purchase price for such vessels is US$25.75 million and US$25 million, respectively, according to a statement, while the delivery of the boxships is expected to take place by the end of 2022.

Cyprus’ bulker and tanker owner said the terms of these transactions were negotiated and approved by a special committee of its disinterested and independent directors.





Antonis Karamalegkos
Managing Editor

Latest Posts

UWL announces vessel partnership with Emirates Shipping Line

UWL, a leading American-owned NVOCC (Non-Vessel Operating Common Carrier) and global logistics provider, welcomes Emirates Shipping Line as the new vessel partner for its...

Sea-Intelligence: Port Power Rankings

 Sea-Intelligence analyses port performance in terms of schedule reliability, across the 202 deep-sea ports with the largest number of container vessel calls, by creating...

Suez slowdown reshapes Red Sea’s port map

The macro picture of the Red Sea is worsen as canal transits are at half-mast, and the region has relinquished its role as the...

We asked AI: When containers become pools

We asked AI what a container might look like if it was trasformed into a pool. The result? Long steel containers, many of them stacked,...

Transpacific crash may normalise charter market

Containership charter rates, which have defied the freight slump for some time, could be peaking, as some small ships chartered by opportunistic operators for...
error: Content is protected !!