Castor Maritime Sells Its Panamax for $12.6M

Credit: Diogo Hungria/Unsplash

Castor Maritime Inc., a diversified global shipping company, announces that on April 18, 2023, the Company completed the previously announced sale at a price of $12.6 million of the M/V Magic Rainbow, a 2007-built Panamax, by delivering the vessel to its new owners.

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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Source: Castor Maritime