Castor maritime inc. announces the sales of the m/v magic nova and the m/v magic horizon for an aggregate price of $31.9 million with an aggregate expected net gain of $9.0 million

Limassol, cyprus, jan. 29, 2024 (globe newswire) -- castor maritime inc. (nasdaq: ctrm), (“castor” or the “company”), a diversified global shipping company, announces that on january 19, 2024, the company entered into separate agreements with entities beneficially owned by a family member of our chairman, chief executive officer and chief financial officer for the sale of (i) the m/v magic nova, a 2010-built panamax bulk carrier vessel, for a price of $16.1 million and (ii) the m/v magic horizon, a 2010-built panamax bulk carrier vessel, for a price of $15.8 million. the terms of the transactions were negotiated and approved by a special committee of our disinterested and independent directors. both vessels are expected to be delivered to their new owners by the end of the first quarter of 2024.
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