CTRM · Castor Maritime Inc.

Castor Maritime Inc. reported a significant turnaround in Q4 2025 with net income of $17.6 million compared to a $32.7 million loss in Q4 2024, driven by stronger market rates in the dry-bulk sector and improved operational efficiency. Total vessel revenues decreased 11.3% to $13.3 million due to a 29.8% reduction in Available Days following vessel disposals, partially offset by higher charter rates. Revenue from services contributed $9.2 million from subsidiary MPC Capital, acquired in late 2024. The company strengthened its balance sheet with cash and restricted cash increasing to $152.8 million as of December 31, 2025, up from $87.9 million a year earlier, supported by vessel sales proceeds and a new $50.0 million sustainability-linked loan facility. Management highlighted a disciplined approach to funding and balance sheet optimization through sale-and-leaseback transactions, positioning the company to capitalize on future opportunities in the dry-bulk sector.