US-listed Castor Maritime revealed its first investment in container ships, following plans last month to spin off its tanker fleet.

The $50m acquisition of a pair of sub-panamaxes comes as the owner of 20 bulkers and eight oil carriers more than doubled its profit in the third quarter, mainly on the back of robust tanker markets.

Chief executive Petros Panagiotidis said in an earnings release on 23 November that his team is “excited about the agreed acquisitions by Castor of two container vessels with charters attached at attractive levels”.