Castor Maritime Inc. Completes M/V Magic Phoenix Sale For $11.8M

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Castor Maritime Inc. sells M/V Magic Moon for $11.8M to third party, expecting $3.0M net gain in Q4 2023.

Vessel Sale Update

Castor Maritime Inc. completes M/V Magic Phoenix sale for $14.0M, anticipates $2.6M net loss in Q4 2023. The company operates through a fleet of 18 vessels, totaling 1.5 million dwt, spanning Capesize, Kamsarmax, Panamax, and container ships. Forward-looking statements are covered by safe harbor provisions.

Forward-looking statements

Forward-looking statements, identified by specific expressions, rely on assumptions rooted in management’s analysis of operational trends and third-party data. Despite considering these assumptions reasonable, uncertainties and external factors beyond our control might impact their realization. Therefore, achieving or fulfilling these forward-looking statements, expectations, beliefs, or projections remains uncertain.

Key factors affecting actual results include consummation uncertainties, market conditions, fleet growth, charter agreements, debt management, regulatory changes, geopolitical events, litigation, and weather impacts. Forward-looking statements remain subject to these risks.

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