Castor Maritime led-by Petros Panagiotidis completed the sale of its 2005-built panamax bulk carrier Magic Moon.
The Limassol-based diversified shipping company reported yesterday that has sold the vessel for a price tag of $11.8m, without disclosing the name of the buyer.
The vessel is expected to be delivered to its new owner by the end of the fourth quarter of 2023.
The company expects to record during the fourth quarter of 2023 a net gain of approximately $3m from the sale of the ship, excluding any transaction related costs.
On March 23, the company agreed to offload the ship for a price of $13.95m and was supposed to deliver the vessel to its new owner during the third quarter of 2023.
In late September, the company announced that the sale of the Magic Moon was terminated following the buyer’s failure to take delivery of the vessel. The shipowner said at that time that will retain the vessel and not receive its purchase price of $13.95m.
Petros Panagiotidis also revealed that the company completed the previously announced sale of the 2008-built panamax bulk carrier, Magic Phoenix, for a price of $14m by delivering the vessel to its new owner.
The company expects to record during the fourth quarter of 2023 a net loss of approximately $2.6m from the sale of the vessel Magic Phoenix, excluding any transaction-related costs.
Castor owns a fleet of 18 vessels, with an aggregate capacity of 1.5 million dwt, currently consisting of one capesize vessel, six kamsarmax vessels, including the ship Magic Argo that the company agreed to sell on September 22, 2023, nine panamax dry bulk vessels, including the Magic Moon, and two 2,700 teu containership vessels.
