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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Time charter revenues $ 65,069,003 $ 97,515,511 $ 150,216,130
Revenue from services (including $0, $0, $381,778 from related parties for the years ended December 31, 2022, 2023, and 2024, respectively) 1,174,376 0 0
Total revenues 66,243,379 97,515,511 150,216,130
EXPENSES:      
Voyage expenses (including $1,944,288, $1,274,384 and $1,170,615 to related party for the years ended December 31, 2022, 2023, and 2024, respectively) (4,248,856) (5,052,228) (3,721,277)
Vessel operating expenses (26,188,773) (41,913,628) (41,259,554)
Cost of revenue from services (exclusive of depreciation and amortization shown separately below) (1,117,476) 0 0
Management fees to related parties (4,808,602) (7,167,397) (6,562,400)
Depreciation and amortization (15,037,006) (22,076,831) (18,535,237)
Loss on vessels held for sale (3,629,521) 0 0
Provision for doubtful accounts (4,823) 0 0
General and administrative expenses (including $2,100,000, $3,099,000 and $7,719,165 to related party for the years ended December 31, 2022, 2023, and 2024, respectively) (13,343,878) (5,681,371) (7,043,937)
Net gain on sale of vessels 19,298,394 6,383,858 0
Gain from a claim 1,418,096 0 0
Total expenses, net (47,662,445) (75,507,597) (77,122,405)
Other operating income (expense):      
Net gain on disposal 158,440 0 0
Net gain from equity method investments measured at fair value 2,687,236 0 0
Total other operating income (expense) 2,845,676 0 0
Operating income 21,426,610 22,007,914 73,093,725
OTHER INCOME/(EXPENSES):      
Interest and finance costs (including $0, $0 and $781,828 to related party for the years ended December 31, 2022, 2023 and 2024, respectively) (6,086,355) (11,259,643) (7,681,482)
Interest income 6,882,719 3,209,886 1,355,491
Foreign exchange gains / (losses) (161,142) (92,745) 109,882
Dividend income on equity securities 6,692,418 1,312,222 24,528
Dividend income from related party 1,423,332 1,166,667 0
Gain / (loss) on equity securities (14,738,660) 5,136,649 27,450
Total other expenses, net (5,987,688) (526,964) (6,164,131)
Net income from continuing operations, before taxes 15,438,922 21,480,950 66,929,594
Income taxes (133,988) (177,794) (388,669)
Net income from continuing operations, net of taxes 15,304,934 21,303,156 66,540,925
Net income from discontinued operations, net of taxes 0 17,339,332 52,019,765
Net income 15,304,934 38,642,488 118,560,690
Less: Net income attributable to the non-controlling interest (685,938) 0 0
Net income attributable to Castor Maritime Inc. 14,618,996 38,642,488 118,560,690
Deemed dividend on warrants repurchase 0 (444,885) 0
Dividend on Series D Preferred Shares (2,645,833) (1,020,833) 0
Deemed dividend on Preferred Shares (606,444) (196,296) 0
Deemed contribution from Series D preferred shareholders 22,437,675 0 0
Net income attributable to common shareholders of Castor Maritime Inc. 33,804,394 36,980,474 118,560,690
Other comprehensive loss:      
Foreign currency translation (1,878,694) 0 0
Net cash flow hedges (168,377) 0 0
Other comprehensive loss (2,047,071) 0 0
Other comprehensive loss attributable to noncontrolling interests 537,884 0 0
Other comprehensive loss attributable to Castor Maritime Inc. (1,509,187) 0 0
Total comprehensive income 13,257,863 38,642,488 118,560,690
Comprehensive income attributable to noncontrolling interests (148,054) 0 0
Total comprehensive income attributable to Castor Maritime Inc. $ 13,109,809 $ 38,642,488 $ 118,560,690
Earnings per common share, basic attributable to Castor Maritime Inc. common shareholders, continuing operations (in dollars per share) $ 3.5 $ 2.05 $ 7.03
Earnings per common share, diluted attributable to Castor Maritime Inc. common shareholders, continuing operations (in dollars per share) 0.38 0.95 7.03
Earnings per common share, basic attributable to Castor Maritime Inc. common shareholders, discontinued operations (in dollars per share) 0 1.81 5.5
Earnings per common share, diluted attributable to Castor Maritime Inc. common shareholders, discontinued operations (in dollars per share) 0 0.79 5.5
Earnings per common share, basic attributable to Castor Maritime Inc. common shareholders, Total (in dollars per share) 3.5 3.86 12.53
Earnings per common share, diluted attributable to Castor Maritime Inc. common shareholders, Total (in dollars per share) $ 0.38 $ 1.74 $ 12.53
Weighted average number of common shares, basic (in shares) 9,662,354 9,571,045 9,460,976
Weighted average number of common shares, diluted (in shares) 38,745,250 21,953,833 9,460,976