Dubai Maritime News

Castor Maritime confirms move towards capesize market exit

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Cyprus-based bulker and boxship owner Castor Maritime has confirmed its exit from the capesize segment after offloading its 2006-built Magic Orion, a deal earlier reported by splash

The Nasdaq-listed outfit controlled by Petros Panagiotidis said it plans to close the sale of the Imabari-built 180,200 dwt ship by the end of the first quarter of 2024.

The deal with an undisclosed buyer is worth $17.4m and Castor should book a net gain of about $2m, excluding transaction-related costs.

The company has also recently wrapped up the sale of the 2009-built kamsarmax Magic Argo, banking about $3m in the process.

Castor on a fully-delivered basis, owns 13 bulkers: five kamsarmaxes and eight panamaxes, as well as two 2,700 teu boxships.
Source: Splash247
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Dec 19, 2023

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Castor Maritime confirms move towards capesize market exit

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