Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Nebula


Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on April 18, 2024, it completed the previously announced sale of the M/V Magic Nebula, a 2010-built Kamsarmax bulk carrier vessel, for a price of $16.2 million, by delivering the vessel to its new owner, an entity affiliated with a family member of our Chairman, Chief Executive Officer and Chief Financial Officer.

The Company expects to record a net gain of approximately $2.5 million from the above-mentioned sale, excluding any transaction-related costs, during the second quarter of 2024.

About Castor Maritime Inc.

Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.

Castor owns a fleet of 13 vessels, with an aggregate capacity of 0.9 million dwt, currently consisting of four Kamsarmax vessels, including the M/V Magic Venus, which the Company agreed to sell on December 21, 2023, seven Panamax dry bulk vessels, including the M/V Magic Horizon, which the Company agreed to sell on January 29, 2024, and two 2,700 TEU containership vessels.

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