Castor Maritime Earns $17.6M Q4 Net Income, Secures $50M Sustainability-Linked Loan
Castor Maritime posted Q4 2025 net income of $17.6 million versus a $32.7 million loss year-over-year, driven by adjusted EBITDA of $11.2 million and vessel revenues of $13.3 million. It closed December with $152.8 million in cash, completed four vessel disposals, redeemed $60 million in preferred shares and secured a $50 million sustainability-linked term loan.
1. Q4 2025 Financial Turnaround
For the quarter ended December 31, 2025, Castor Maritime achieved net income of $17.6 million compared with a $32.7 million loss in Q4 2024. Total vessel revenues were $13.3 million, revenue from services reached $9.2 million and adjusted EBITDA rose to $11.2 million.
2. Full-Year 2025 Results
For the year ended December 31, 2025, net income increased 40.5% to $21.5 million despite a 29.0% drop in vessel revenues to $46.2 million. Adjusted net income was $14.5 million, adjusted EBITDA was $33.2 million and basic earnings per share were $1.13.
3. Balance Sheet and Financing
As of December 31, 2025, cash and restricted cash totaled $152.8 million, up from $87.9 million a year earlier. The company redeemed $60.0 million of Series E preferred shares, repaid its $100 million senior term loan, completed four vessel disposals and secured a $50.0 million sustainability-linked term loan.