Castor Maritime Inc. announced that on 19 January 2024, the company entered into separate agreements for the sale of the M/V Magic Nova, a 2010-built panamax bulk carrier vessel, for a price of US$16.1 million and the M/V Magic Horizon, a 2010-built panamax bulk carrier vessel, for a price of US$15.8 million.
The terms of the transactions were negotiated and approved by a special committee of disinterested and independent directors. Both vessels are expected to be delivered to their new owners by the end of 1Q24.
The company expected to record during 1Q24 a net gain of approximately US$4.4 million from the sale of the M/V Magic Nova, excluding any transaction-related costs and a net gain of US$4.6 million from the sale of M/V Magic Horizon, excluding any transaction related costs.
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