Castor Maritime: Sale of M/V Magic Moon; Completion of M/V Magic Phoenix sale

0
5143

Castor Maritime announced that on November 10, 2023, the Company entered into an agreement with an unaffiliated third party for the sale of the M/V Magic Moon, a 2005-built Panamax bulk carrier vessel, for a price of $11.8 million. The vessel is expected to be delivered to its new owner by the end of the fourth quarter of 2023.

The Company expects to record during the fourth quarter of 2023 a net gain of approximately $3.0 million from the sale of the M/V Magic Moon, excluding any transaction related costs.

Furthermore, on November 27, 2023, the Company completed the previously announced sale of the M/V Magic Phoenix, a 2008-built Panamax bulk carrier vessel, for a price of $14.0 million, by delivering the vessel to its new owner.

The Company expects to record during the fourth quarter of 2023 a net loss of approximately $2.6 million from the sale of the M/V Magic Phoenix, excluding any transaction-related costs.

LEAVE A REPLY

Please enter your comment!
Please enter your name here