Deals

Cyprus-based shipping company Castor Maritime, through a separate wholly-owned subsidiary, has signed an agreement to buy a 2005 Korean-built Aframax tanker from an unaffiliated third party.

The vessel was acquired for $14.8m.

Subject to the satisfaction of certain customary closing conditions, the acquisition is expected to conclude in the second quarter of this year.

Castor Maritime CEO Petros Panagiotidis said: “We are pleased to announce our tenth vessel acquisition in 2021 with the addition...

https://www.ship-technology.com/deals/castor-maritime-korean-built-aframax-tanker/

Element 1 (e1) has signed a letter of intent (LoI) with Maritime Partners (MP) and Ardmore Shipping to establish a joint venture (JV) for delivering e1’s methanol-to-hydrogen technology to the marine sector.

Each of the firms will own a 33.3% stake in the JV, which is to be named e1 Marine.

The new JV will be responsible for the global development, marketing, licensing and sale of e1’s hydrogen generation systems to the marine industry.

The e1 system is carbon-neutral when powered by renewable...

https://www.ship-technology.com/news/ardmore-e1-maritime-partners-sign/