Castor Maritime Inc., a diversified global shipping and energy company, has announced that in March 2025, the Company entered into two separate agreements with entities beneficially owned by a family member of the Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, and the M/V Magic Callisto, a 2012-built Panamax vessel, for a combined price of US$28.0 million.
The terms of each transaction were negotiated and approved by a special committee of our disinterested and independent directors. The vessels are expected to be delivered to their new owners during the remainder of 1H25.
