Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Eclipse
Castor Maritime Inc. (NASDAQ: CTRM) has completed the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, on March 24, 2025. The delivery to the new owner marks the execution of a previously announced transaction.
The company currently maintains a fleet of 11 vessels with an aggregate capacity of 0.8 million dwt, which includes two vessels pending sale: the M/V Gabriela A (sale agreement from December 4, 2024) and the M/V Magic Callisto (sale agreement from March 2025). Castor Maritime has also diversified its operations as the majority shareholder of Frankfurt-listed MPC Münchmeyer Petersen Capital AG, positioning itself as a global shipping and energy company involved in investment, asset management, vessel ownership, and energy infrastructure projects.
Castor Maritime Inc. (NASDAQ: CTRM) ha completato la vendita della M/V Magic Eclipse, una nave bulk carrier Panamax costruita nel 2011, il 24 marzo 2025. La consegna al nuovo proprietario segna l'esecuzione di una transazione precedentemente annunciata.
L'azienda attualmente gestisce una flotta di 11 navi con una capacità totale di 0,8 milioni di dwt, che include due navi in attesa di vendita: la M/V Gabriela A (contratto di vendita del 4 dicembre 2024) e la M/V Magic Callisto (contratto di vendita di marzo 2025). Castor Maritime ha anche diversificato le sue operazioni come azionista di maggioranza di MPC Münchmeyer Petersen Capital AG quotata a Francoforte, posizionandosi come un'azienda globale di trasporti e energia coinvolta in investimenti, gestione patrimoniale, proprietà di navi e progetti di infrastruttura energetica.
Castor Maritime Inc. (NASDAQ: CTRM) ha completado la venta del M/V Magic Eclipse, un buque granelero Panamax construido en 2011, el 24 de marzo de 2025. La entrega al nuevo propietario marca la ejecución de una transacción previamente anunciada.
La compañía actualmente mantiene una flota de 11 buques con una capacidad total de 0.8 millones de dwt, que incluye dos buques en espera de venta: el M/V Gabriela A (contrato de venta del 4 de diciembre de 2024) y el M/V Magic Callisto (contrato de venta de marzo de 2025). Castor Maritime también ha diversificado sus operaciones como accionista mayoritario de MPC Münchmeyer Petersen Capital AG, cotizada en Frankfurt, posicionándose como una empresa global de transporte y energía involucrada en inversiones, gestión de activos, propiedad de buques y proyectos de infraestructura energética.
Castor Maritime Inc. (NASDAQ: CTRM)는 2025년 3월 24일 2011년에 건조된 파나막스 벌크 캐리어 선박 M/V Magic Eclipse의 판매를 완료했습니다. 새로운 소유자에게의 인도는 이전에 발표된 거래의 실행을 나타냅니다.
현재 회사는 11척의 선박을 보유하고 있으며, 총 용량은 80만 dwt입니다. 여기에는 판매 대기 중인 두 척의 선박이 포함됩니다: M/V Gabriela A(2024년 12월 4일 판매 계약)와 M/V Magic Callisto(2025년 3월 판매 계약). Castor Maritime는 또한 프랑크푸르트에 상장된 MPC Münchmeyer Petersen Capital AG의 대주주로서 운영을 다각화했으며, 투자, 자산 관리, 선박 소유 및 에너지 인프라 프로젝트에 참여하는 글로벌 해운 및 에너지 회사로 자리매김하고 있습니다.
Castor Maritime Inc. (NASDAQ: CTRM) a finalisé la vente du M/V Magic Eclipse, un vraquier Panamax construit en 2011, le 24 mars 2025. La livraison au nouveau propriétaire marque l'exécution d'une transaction précédemment annoncée.
La société maintient actuellement une flotte de 11 navires avec une capacité totale de 0,8 million de dwt, qui comprend deux navires en attente de vente : le M/V Gabriela A (contrat de vente du 4 décembre 2024) et le M/V Magic Callisto (contrat de vente de mars 2025). Castor Maritime a également diversifié ses opérations en tant qu'actionnaire majoritaire de MPC Münchmeyer Petersen Capital AG, cotée à Francfort, se positionnant comme une entreprise mondiale de transport et d'énergie impliquée dans l'investissement, la gestion d'actifs, la propriété de navires et des projets d'infrastructure énergétique.
Castor Maritime Inc. (NASDAQ: CTRM) hat den Verkauf des M/V Magic Eclipse, eines 2011 gebauten Panamax-Bulkcarriers, am 24. März 2025 abgeschlossen. Die Lieferung an den neuen Eigentümer markiert die Ausführung einer zuvor angekündigten Transaktion.
Das Unternehmen betreibt derzeit eine Flotte von 11 Schiffen mit einer Gesamtkapazität von 0,8 Millionen dwt, zu der auch zwei Schiffe gehören, die zum Verkauf stehen: das M/V Gabriela A (Verkaufsvertrag vom 4. Dezember 2024) und das M/V Magic Callisto (Verkaufsvertrag vom März 2025). Castor Maritime hat auch seine Aktivitäten diversifiziert, da es Mehrheitsaktionär der an der Frankfurter Börse notierten MPC Münchmeyer Petersen Capital AG ist und sich als globales Schifffahrts- und Energieunternehmen positioniert, das in Investitionen, Asset-Management, Schiffsbesitz und Energieinfrastrukturprojekte involviert ist.
- Strategic fleet optimization through vessel sales
- Diversified business model beyond shipping through majority stake in MPC Münchmeyer Petersen Capital AG
- Fleet reduction from vessel sales may impact future revenue potential
- Exposure to volatile charter rates and vessel values as mentioned in risk factors
Insights
The completion of the M/V Magic Eclipse vessel sale marks Castor Maritime's continued execution of its fleet adjustment strategy. This transaction is part of a broader fleet reduction plan that includes two additional vessels the company has already agreed to sell - the M/V Gabriela A and M/V Magic Callisto. After these sales complete, Castor's fleet will shrink from 11 to 9 vessels, representing a
This sale appears to be part of a strategic shift for Castor, which describes itself as a "diversified global shipping and energy company" rather than purely a vessel operator. The company's majority stake in Frankfurt-listed investment firm MPC Münchmeyer Petersen Capital AG underscores this diversification beyond traditional shipping activities.
The M/V Magic Eclipse is a 2011-built Panamax bulk carrier, making it a mid-age vessel in today's dry bulk market. For context, Castor's current fleet has an aggregate capacity of 0.8 million dwt, and these vessel sales will reduce both capacity and potential revenue generation capabilities.
While the financial terms remain undisclosed, this transaction's significance cannot be overlooked for a company with a
LIMASSOL, Cyprus, March 28, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on March 24, 2025, it completed the previously announced sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel by delivering the vessel to its new owner.
About Castor Maritime Inc.
Castor Maritime Inc. is a diversified global shipping and energy company, with activities directly and indirectly in investment and asset management, vessel ownership, technical and commercial ship management and energy infrastructure projects.
Castor owns a fleet of 11 vessels, with an aggregate capacity of 0.8 million dwt including the M/V Gabriela A that the Company agreed to sell on December 4, 2024, and the M/V Magic Callisto that the Company agreed to sell in March 2025. Castor is also the majority shareholder of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG.
For more information, please visit the Company’s website at www.castormaritime.com. Information on our website does not constitute a part of this press release.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. We are including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of current or historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these forward-looking statements, including these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward‐looking statements include generally: the effects of the spin-off of our tanker business, our business strategy, expected capital spending and other plans and objectives for future operations, dry bulk and containership market conditions and trends, including volatility in charter rates (particularly for vessels employed in short-term time charters or index linked period time charters), factors affecting supply and demand, fluctuating vessel values, opportunities for the profitable operations of dry bulk and container vessels and the strength of world economies, changes in the size and composition of our fleet, our ability to realize the expected benefits from our past or future vessel acquisitions, our ability to realize the expected benefits of vessel acquisitions, increased transactions costs and other adverse effects (such as lost profit) due to any failure to consummate any sale of our vessels, our relationships with our current and future service providers and customers, including the ongoing performance of their obligations, dependence on their expertise, compliance with applicable laws, and any impacts on our reputation due to our association with them, our ability to borrow under existing or future debt agreements or to refinance our debt on favorable terms and our ability to comply with the covenants contained therein, in particular due to economic, financial or operational reasons, our continued ability to enter into time or voyage charters with existing and new customers and to re-charter our vessels upon the expiry of the existing charters, changes in our operating and capitalized expenses, including bunker prices, dry-docking, insurance costs, costs associated with regulatory compliance, and costs associated with climate change, our ability to fund future capital expenditures and investments in the acquisition and refurbishment of our vessels (including the amount and nature thereof and the timing of completion thereof, the delivery and commencement of operations dates, expected downtime and lost revenue), instances of off-hire, due to vessel upgrades and repairs, fluctuations in interest rates and currencies, including the value of the U.S. dollar relative to other currencies, any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity breach, existing or future disputes, proceedings or litigation, future sales of our securities in the public market and our ability to maintain compliance with applicable listing standards, volatility in our share price, including due to high volume transactions in our shares by retail investors, potential conflicts of interest involving affiliated entities and/or members of our board of directors, senior management and certain of our service providers that are related parties, general domestic and international political conditions or events, including armed conflicts such as the war in Ukraine and the conflict in the Middle East, acts of piracy or maritime aggression, such as recent maritime incidents involving vessels in and around the Red Sea, sanctions, “trade wars”, global public health threats and major outbreaks of disease, changes in seaborne and other transportation, including due to the maritime incidents in and around the Red Sea, fluctuating demand for dry bulk and container vessels and/or disruption of shipping routes due to accidents, political events, international sanctions, international hostilities and instability, piracy or acts of terrorism, changes in governmental rules and regulations or actions taken by regulatory authorities, including changes to environmental regulations applicable to the shipping industry, accidents, the impact of adverse weather and natural disasters and any other factors described in our filings with the SEC. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication, except to the extent required by applicable law. New factors emerge from time to time, and it is not possible for us to predict all or any of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these foregoing and other risks and uncertainties. These factors and the other risk factors described in this press release are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Given these uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.
CONTACT DETAILS
For further information please contact:
Petros Panagiotidis
Castor Maritime Inc.
Email: ir@castormaritime.com
Media Contact:
Kevin Karlis
Capital Link
Email: castormaritime@capitallink.com
FAQ
When did Castor Maritime (CTRM) complete the sale of M/V Magic Eclipse?
How many vessels remain in CTRM's fleet after the Magic Eclipse sale?
What other vessels is CTRM planning to sell in 2025?
What are CTRM's current business activities beyond vessel ownership?
