Castor Maritime Inc. announced on March 21, 2025, that it entered into two separate agreements in March 2025 for the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier, and the M/V Magic Callisto, a 2012-built Panamax vessel. The combined sale price for both vessels is $28.0 million.
The transactions were made with entities beneficially owned by a family member of Castor's Chairman, Chief Executive Officer, and Chief Financial Officer. The terms of each transaction were negotiated and approved by a special committee composed of the company's disinterested and independent directors.
The M/V Magic Eclipse and M/V Magic Callisto are expected to be delivered to their new owners during the remainder of the first half of 2025. These sales will further adjust Castor Maritime's fleet, which currently comprises 12 vessels.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.