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Castor Maritime sell old kamsarmax

Published by , Editorial Assistant
Dry Bulk,

Castor Maritime Inc. has announced that on 15 February 2024, the company entered into an agreement with an entity beneficially owned by a family member of its Chairman, CEO and Chief Financial Officer for the sale of the M/V Magic Nebula, a 2010-built kamsarmax bulk carrier vessel, for a price of US$16.2 million.

The terms of the transaction were negotiated and approved by a special committee of Castors disinterested and independent directors. The vessel has been expected to be delivered to its new owner during the second quarter of 2024.

The company expected to record during 2Q24 a net gain of approximately US$2.5 million from the sale of the M/V Magic Nebula excluding any transaction-related costs.

Castors fleet consists of 16 vessels, with an aggregate capacity of 1.3 million DWT, currently consisting of the capesize vessel M/V Magic Orion which the company agreed to sell on 7 December 2023, five Kamsarmax vessels including the M/V Magic Nebula and the M/V Magic Venus which the company agreed to sell on 21 December 2023, eight panamax dry bulk vessels, including the M/V Magic Nova and the M/V Magic Horizon which the company agreed to sell on 29 January 2024, and two 2700 TEU containership vessels.

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