Castor Maritime announces the sale of a kamsarmax
Published by Oliver Kleinschmidt,
Editorial Assistant
Dry Bulk,
Castor Maritime Inc., has announced that on 21 December 2023, it entered into an agreement with an entity beneficially owned by a family member of its Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Venus, a 2010-built kamsarmax bulk carrier vessel, for a price of US$17.5 million.
The terms of the transaction were negotiated and approved by a special committee of disinterested and independent directors. The vessel is expected to be delivered to its new owner by the end of 1Q24.
The company expects to record a net gain of approximately US$3.5 million from the sale of the M/V Magic Venus, excluding any transaction related costs.
Castor owns a fleet of 17 vessels, with an aggregate capacity of 1.4 million DWT, consisting of one capesize vessel, the M/V Magic Orion which the company agreed to sell on 7 December 2023, five kamsarmax vessels including the M/V Magic Venus, nine panamax dry bulk vessels, including the M/V Magic Moon which the company agreed to sell on 10 November 2023, and two 2700 TEU containership vessels.
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Read the article online at: https://www.drybulkmagazine.com/shipping/08012024/castor-maritime-announces-the-sale-of-kamsarmax/
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