Castor maritime inc. announces the sale of the m/v magic rainbow for $12.6 million and with an expected net gain of $4.4 million

Limassol, cyprus, march 20, 2023 (globe newswire) -- castor maritime inc. (nasdaq: ctrm), (“castor”, or the “company”), a diversified global shipping company, announces that on march 13, 2023, we entered into an agreement with a third party for the sale of the m/v magic rainbow at a price of $12.6 million. the conclusion of the sale agreement is subject to the execution of definitive documentation customary for this type of transaction. the vessel is expected to be delivered to its new owner during the second quarter of 2023.
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