CTRM - Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Orion | Benzinga
LIMASSOL, Cyprus, March 22, 2024 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ:CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on March 22, 2024, it completed the previously announced sale of the M/V Magic Orion, a 2006-built Capesize bulk carrier vessel, for a price of $17.4 million, by delivering the vessel to its new owner.
The Company expects to record a net gain of approximately $2.0 million from the above-mentioned sale, excluding any transaction-related costs during the first 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 14 vessels, with an aggregate capacity of 1.0 million dwt, currently consisting of five Kamsarmax vessels, including the M/V Magic Nebula and the M/V Magic Venus, which the Company agreed to sell on February 15, 2024 and December 21, 2023 respectively, 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.
For more information, please visit the Company's website at www.castormaritime.com. Information on our website does not constitute a part of this press release.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements include statements concerning plans, ...