Business
Castor Maritime Inc. Announces the Sale of the M/V Magic Eclipse and of the M/V Magic Callisto for an Aggregate $28.0 Million
LIMASSOL, Cyprus, March 21, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping and energy company, announces that in March 2025, the Company entered into two separate agreements with entities beneficially owned by a family member of our 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 v
About this update from Castor Maritime Inc.
[{"type":"image","alt":"Castor Maritime Inc.","displaySize":"","headline":null,"caption":"Castor Maritime Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":205,"url":"https://media.zenfs.com/en/globenewswire.com/61070e0721846f068cd57ba2c67989c4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/FF4zW4MOmRF4NdGz_hF3_g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI4NztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/61070e0721846f068cd57ba2c67989c4","width":300,"height":205}},"lazy":false},{"type":"text","content":"LIMASSOL, Cyprus, March 21, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping and energy company, announces that in March 2025, the Company entered into two separate agreements with entities beneficially owned by a family member of our 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 $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 the first half of 2025.","length":784,"tagName":"p"},{"type":"text","content":"About Castor Maritime Inc. ","length":26,"tagName":"p"},{"type":"text","content":"Castor Maritime Inc. is a diversified global shipping and energy company, with activities directly and indirectly in investment and asset management, vessel ownership, technical and commercial ship management and energy infrastructure projects.","length":244,"tagName":"p"},{"type":"text","content":"Castor owns a fleet of 12 vessels, with an aggregate capacity of 0.8 million dwt including the M/V Gabriela A that the Company agreed to sell on December 4, 2024, the M/V Magic Eclipse and the M/V Magic Callisto. Castor is also the majority shareholder of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG.","length":341,"tagName":"p"},{"type":"text","content":"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.","length":160,"tagName":"p"},{"type":"text","content":"Cau...