The Cyprus based and Nasdaq-listed shipowner Castor Maritime (Castor) will offload one of its kamsarmax bulk carriers for $16.2m.
Castor Maritime entered into an agreement to sell the 2010-built kamsarmax bulk carrier Magic Nebula to an entity beneficially owned by a family member of Petros Panagiotidis, the company’s chairman, CEO, and CFO.
The terms of the transaction were negotiated and approved by a special committee of disinterested and independent directors, as the shipowner explains.
The vessel is expected to be delivered to its new owner during the second quarter of 2024.
The company expects a net gain of around $2.5m from the sale of the vessel Magic Nebula during the second quarter of 2024, excluding any transaction-related costs.
The shipowner Castor sold on December 21 the 2010-built kamsarmax bulk carrier Magic Venus for a price of $17.5m.
Castor owns a fleet of 16 vessels, with an aggregate capacity of 1.3 million dwt, currently consisting of the capesize vessel Magic Orion which the company agreed to sell on December 7, 2023, five kamsarmax vessels including the Magic Nebula and the Magic Venus which the company agreed to sell on December 21, 2023, eight panamax dry bulk vessels, including the Magic Nova and the Magic Horizon which the company agreed to sell on January 29, 2024, and two 2,700 teu containership vessels.
