Castor Maritime Inc. Announces the Sale of the M/V Magic Nebula for a Price of $16.2 Million with an Expected Net Gain of $2.5 Million

February 22, 2024

https://www.globenewswire.com/news-release/2024/02/22/2833748/0/en/Castor-Maritime-Inc-Announces-the-Sale-of-the-M-V-Magic-Nebula-for-a-Price-of-16-2-Million-with-an-Expected-Net-Gain-of-2-5-Million.html

LIMASSOL, Cyprus, Feb. 22, 2024 (GLOBE NEWSWIRE) — Castor Maritime Inc. (NASDAQ:CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on February 15, 2024, the Company entered into an agreement with an entity beneficially owned by a family member of our Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Nebula, a 2010-built Kamsarmax bulk carrier vessel, for a price of $16.2 million. The terms of the transaction were negotiated and approved by a special committee of our disinterested and independent directors. The vessel is expected to be delivered to its new owner during the second quarter of 2024.

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