Castor Maritime, 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.
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.
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