Castor Maritime Reports Sale of Two Panamax Vessels for $28 Million

, MT Newswires -  4:29 PM ET 3/21/2025 Company News

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04:29 PM EDT, 03/21/2025 (MT Newswires) -- Castor Maritime ( CTRM ) said Friday it signed two agreements to sell the M/V Magic Eclipse, a 2011-built Panamax bulk carrier, and the M/V Magic Callisto, a 2012-built Panamax vessel, for a total of $28 million.

The buyers are entities controlled by a family member of the company's chairman, chief executive, and chief financial officer, the company said. It expects to deliver the vessels during the remainder of the first half of 2025.

Shares of the company were up over 5% in after-hours activity.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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