Cyprus-based owner Castor Maritime has signed a sale and leaseback agreement for a bulk carrier vessel.

The company signed the agreement for the 2013-built kamsarmax Magic Perseus bulker with a Japanese counterparty. The transaction is set to be completed in January 2026.

The bareboat financing amounts to $15.6m, has a duration of eleven years, including a put option for the counterparty at the end of year eight.

There is also a purchase option for the company beginning at the end of the second year of the bareboat charter period.

Castor Maritime’s fleet comprises nine vessels, with an aggregate capacity of around 600,000 dwt.