Castor Maritime sells panamax bulker

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Castor Maritime, a diversified global shipping company, announced that on March 13, 2023, it 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.

The Company expects to record during the second quarter of 2023 a net gain on the sale of the M/V Magic Rainbow of approximately $4.4 million, excluding any transaction related costs.

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