• 2023 December 21 10:14

  Castor Maritime announces the sale of the M/V Magic Orion for $17.4 mln

  

  Castor Maritime Inc., a diversified global shipping company, announces that on December 7, 2023, the company entered into an agreement with an unaffiliated third party for the sale of the M/V Magic Orion, a 2006-built Capesize bulk carrier vessel, for a price of $17.4 million. The vessel is expected to be delivered to its new owner by the end of the first quarter of 2024, according to the company's release.

  The company expects to record during the first quarter of 2024 a net gain of approximately $2.0 million from the sale of the M/V Magic Orion, excluding any transaction related costs.

  Furthermore, on December 14, 2023, the company completed the previously announced sale of the M/V Magic Argo, a 2009-built Kamsarmax bulk carrier vessel, for a price of $15.75 million, by delivering the vessel to its new owner.

  The company expects to record during the fourth quarter of 2023 a net gain of approximately $3.0 million from the sale of the M/V Magic Argo, excluding any transaction-related costs.
  
  Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels. Castor owns a fleet of 17 vessels, with an aggregate capacity of 1.5 million dwt, currently consisting of one Capesize vessel, the M/V Magic Orion, five Kamsarmax vessels, nine Panamax dry bulk vessels, including the M/V Magic Moon which the company agreed to sell on November 10, 2023, and two 2,700 TEU containership vessels.

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