Castor Maritime Announces that MPC Oceanic Group Has Entered into Agreement to Acquire a 41% Stake in Marlow Navigation
Key Highlights
- ➤MPC Oceanic Group agrees to acquire 41% of Marlow for approximately $126 million
- ➤Marlow generated approximately $560 million revenue in 2025
- ➤Purchase price includes approximately $97 million cash and $29 million in new shares
- ➤Marlow shareholders expected to own approximately 9% of MPC Oceanic Group
- ➤Acquisition completion expected in early 2027, pending regulatory and antitrust approvals
LIMASSOL, Cyprus, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM) (“Castor” or the “Company”), a diversified global shipping and energy company, announces that on November 4, 2026, its majority-owned subsidiary, MPC Oceanic Group AG (Deutsche Börse, Scale, ISIN DE000A1TNWJ4) (“MPC Oceanic Group”), entered into an agreement with the shareholders of Marlow Navigation Co. Ltd. (“Marlow”) to acquire a 41% stake in Marlow, a provider of crew and technical ship management services headquartered in Limassol, Cyprus.
Marlow is a leading provider of ship management services, specializing in crew management and seafarer training, with more than 16,000 crew members serving on board vessels at any given time. Marlow provides crew management services to shipowners and operators for more than 1,150 vessels trading worldwide and in 2025 it generated revenue of approximately USD 560 million.
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