Castor Maritime Inc. announced on July 30, 2025, that it successfully completed a sale and leaseback transaction for the M/V Magic Thunder. The 2011-built Kamsarmax bulk carrier vessel was transacted with a Japanese counterparty on July 29, 2025.
The bareboat financing associated with this transaction amounts to $14.6 million. The agreement has a duration of five years, providing Castor Maritime with capital while retaining operational control.
The terms of the agreement include a purchase option for Castor Maritime, which begins at the end of the second year of the bareboat charter period. This arrangement offers financial flexibility and an option for future ownership.
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