Key Highlights

• MPC Oceanic Group, a majority-owned Subsidiary of Castor Maritime, agreed to acquire a 41% stake in Marlow Navigation for approximately $126 million.

• The purchase price comprises approximately $97 million in cash and approximately $29 million in newly issued MPC Oceanic Group shares.

• Marlow manages crew for more than 1,150 vessels worldwide and generated Revenue of approximately $560 million in 2025.

• Completion of the Acquisition is subject to regulatory and antitrust approvals and is expected in early 2027.

Castor Maritime Inc.(NASDAQ:CTRM), a diversified global shipping and energy company, announced on November 4, 2026, that its majority-owned subsidiary, MPC Oceanic Group AG, has entered into an agreement to acquire a 41% stake in Marlow Navigation Co. Ltd. The transaction, valued at approximately $126 million, would give MPC Oceanic Group a significant minority position in one of the shipping industry's largest crew and technical ship management providers.

Transaction Structure and Financing

The $126 million purchase price is structured as a combination of cash and equity. The cash component amounts to approximately $97 million, while the remaining $29 million will be paid through the issuance of new MPC Oceanic Group shares to Marlow's existing shareholders as part of a Capital increase against contributions in kind. The new shares are to be issued from authorized capital at an issue price of EUR 7.00 per share.

Following completion of the capital increase, Marlow's shareholders are expected to hold approximately 9% of MPC Oceanic Group. MPC Oceanic Group plans to finance one-third of the cash portion from existing cash resources and the remaining two-thirds through debt financing. It is also intended that a representative of Marlow's existing shareholders be proposed for appointment to MPC Oceanic Group's Supervisory Board at the next Annual General Meeting.

About Marlow Navigation

Marlow Navigation, headquartered in Limassol, Cyprus, specializes in crew management and seafarer Training services for the global shipping industry. The company manages crew for more than 1,150 vessels trading worldwide, with more than 16,000 crew members serving on board vessels at any given time. In 2025, Marlow generated revenue of approximately $560 million, making it one of the larger ship management services providers by revenue.

The acquisition positions MPC Oceanic Group to expand its presence in the ship management segment, complementing Castor Maritime's broader activities in asset management, vessel ownership, technical and commercial ship management, and energy infrastructure projects.

Governance and Closing Conditions

The agreements between the parties include provisions related to governance, information and disposal rights, financing, reciprocal acquisition rights, and restrictions on share transfers for MPC Oceanic Group as a minority shareholder. Completion of the acquisition remains subject to required regulatory and antitrust approvals and other customary closing conditions, with the deal expected to close in early 2027.

Castor Maritime currently operates a wholly or partially owned fleet of 11 vessels with an aggregate capacity of 0.9 million deadweight tonnage. The company is also the majority Shareholder of MPC Oceanic Group, which is listed on the Frankfurt Stock Exchange's Scale segment.

The Broader Significance

The planned acquisition of a stake in Marlow Navigation expands Castor Maritime's reach into the ship management services market through its MPC Oceanic Group subsidiary. With Marlow's revenue base of approximately $560 million and its operational scale spanning more than 1,150 vessels, the transaction could provide MPC Oceanic Group with fee-based revenue exposure in a segment that supports shipping operations across the industry. The early 2027 expected closing timeline allows time for the regulatory review process to proceed across the jurisdictions involved.