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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 87,896,786 $ 111,383,645
Restricted cash 0 2,327,502
Accounts receivable trade, net 2,688,116 2,914,899
Due from related parties $ 6,393,625 $ 5,650,168
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Inventories $ 1,552,262 $ 977,639
Prepaid expenses and other assets 3,773,218 3,277,873
Income tax receivable 11,844,503 0
Investment in equity securities 69,119,010 77,089,100
Assets held for sale 69,430,788 38,656,048
Accrued charter revenue 52,084 0
Derivative Assets 1,107,832 0
Total current assets 253,858,224 242,276,874
NON-CURRENT ASSETS:    
Restricted cash 0 7,190,000
Due from related parties $ 3,504,667 $ 4,504,340
Other Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Prepaid expenses and other assets $ 204,146 $ 500,000
Deferred charges, net 2,205,544 3,231,461
Fair value of acquired time charters 119,733 265,173
Investment in related party 117,560,467 117,537,135
Equity method investments 50,503,722 0
Equity method investments measured at fair value 115,455,048 0
Equity investments 4,661,658 0
Goodwill 17,932,243 0
Intangible assets, net 19,323,603 0
Operating lease right-of-use assets 7,770,979 0
Deferred tax assets 1,839,503 0
Total non-current assets 543,518,697 362,765,105
Total assets 797,376,921 605,041,979
CURRENT LIABILITIES:    
Debt related to assets held for sale, net 0 2,406,648
Liabilities directly associated with assets held for sale 17,656,371 0
Accounts payable 2,127,051 2,833,167
Deferred revenue 578,452 1,548,892
Accrued liabilities (including $0 and $364,205 accrued interest to related party, respectively) 23,045,515 3,592,728
Due to related parties $ 889,020 $ 541,666
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Derivative liabilities $ 1,389,542 $ 0
Operating lease liabilities 1,049,167 0
Income tax payable 6,642,888 0
Total current liabilities 64,401,785 28,602,396
NON-CURRENT LIABILITIES:    
Other accrued liabilities 166,156 0
Operating lease liabilities 6,721,813 0
Deferred tax liabilities 8,096,383 0
Total non-current liabilities 107,509,414 65,709,842
Commitments and contingencies
MEZZANINE EQUITY:    
5.00% Series D fixed rate cumulative perpetual convertible preferred shares: 50,000 and 100,000 shares issued and outstanding as of December 31, 2023, and December 31, 2024, respectively, aggregate liquidation preference of $50,000,000 and $100,000,000 as of December 31, 2023 and December 31, 2024, respectively 77,708,258 49,549,489
SHAREHOLDERS' EQUITY:    
Common shares, $0.001 par value; 1,950,000,000 shares authorized; 9,662,354 issued and outstanding as of December 31, 2023 and December 31, 2024 9,662 9,662
Preferred shares, $0.001 par value: 50,000,000 shares authorized; Series B Preferred Shares - 12,000 shares issued and outstanding as of December 31, 2023, and December 31, 2024 12 12
Additional paid-in capital 265,389,338 266,447,819
Retained earnings 228,527,153 194,722,759
Accumulated other comprehensive loss (1,509,187) 0
Total Castor Maritime Inc. shareholders' equity 492,416,978 461,180,252
Noncontrolling interests 55,340,486 0
Total shareholders' equity 547,757,464 461,180,252
Total liabilities, mezzanine equity and shareholders' equity 797,376,921 605,041,979
Vessels [Member]    
NON-CURRENT ASSETS:    
Property and equipment, net 200,443,193 229,536,996
Property and Equipment [Member]    
NON-CURRENT ASSETS:    
Property and equipment, net 1,994,191 0
Nonrelated Party [Member]    
CURRENT LIABILITIES:    
Current portion of long-term debt, net 1,053,156 17,679,295
Debt related to assets held for sale, net 0 2,406,648
NON-CURRENT LIABILITIES:    
Long-term debt, net 2,603,900 65,709,842
Related Party [Member]    
CURRENT LIABILITIES:    
Current portion of long-term debt, net 9,970,623 0
NON-CURRENT LIABILITIES:    
Long-term debt, net $ 89,921,162 $ 0