Castor Maritime Inc. CTRM reported on Friday the sale of M/V Magic Venus, a 2010-built Kamsarmax bulk carrier vessel, for a price of $17.5 million.
The agreement, inked with an entity owned by a family member of the company’s chairman, CEO, and CFO, is set to be finalized by the first quarter of 2024.
The sale is expected to result in a net gain of approximately $3.5 million for the company in the first quarter of 2024, not accounting for any related costs.
Castor Maritime had recently collaborated with a third party to sell the M/V Magic Orion, a 2006-built Capesize bulk carrier vessel, for a price of $17.4 million, anticipating a net gain of around $2.0 million from the transaction.
Additionally, on December 14, the company successfully completed the sale of the M/V Magic Argo, a 2009-built Kamsarmax bulk carrier vessel, for $15.75 million.
CTRM Price Action: Shares of Castor Maritime (CTRM) are trading 3.10% higher at $0.62 as of the last check on Friday.
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