The Cyprus based and Nasdaq-listed shipowner Castor Maritime (Castor) has sold on December 21 the 2010-built kamsarmax bulk carrier Magic Venus for a price of $17.5m.

The buyer is an an entity beneficially owned by a family member of the Castor Chairman, Chief Executive Officer and Chief Financial Officer, and the terms of the transaction were negotiated and approved by a special committee of Castor´s directors.

The shipowner said that it expects to record during the first quarter of 2024 a net gain of around $3.5m from the sale of the bulker Magic Venus, excluding any transaction related costs.

The vessel is expected to be delivered to its new owner by the end of the first quarter of 2024.

Castor owns a fleet of 17 vessels, with an aggregate capacity of 1.4 million dwt, currently consisting of one capesize vessel, the Magic Orion, which the company agreed to sell on December 7, 2023.

It also has in its fleet portfolio five kamsarmax vessels including the Magic Venus, nine panamax dry bulk vessels, including the Magic Moon which the company agreed to sell on November 10, 2023, and also two 2,700 teu containerships.