Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Callisto
Castor Maritime (NASDAQ: CTRM) has completed the sale of its vessel M/V Magic Callisto, a 2012-built Panamax bulk carrier, on April 28, 2025. The delivery to the new owner marks the execution of a previously announced transaction.
The company maintains a diverse portfolio as a global shipping and energy enterprise, with operations spanning asset management, vessel ownership, and technical/commercial ship management. Following this sale, Castor's fleet now consists of 10 vessels with a total capacity of 0.7 million dwt, including the M/V Gabriela A, which is under a sale agreement from December 4, 2024.
Notably, Castor holds a majority stake in the Frankfurt-listed asset manager MPC Münchmeyer Petersen Capital AG, demonstrating its expanded presence in the maritime industry beyond vessel operations.
Castor Maritime (NASDAQ: CTRM) ha completato la vendita della sua nave M/V Magic Callisto, un bulk carrier Panamax costruito nel 2012, il 28 aprile 2025. La consegna al nuovo proprietario segna l'esecuzione di una transazione precedentemente annunciata.
L'azienda mantiene un portafoglio diversificato come impresa globale nel settore marittimo e dell'energia, con operazioni che spaziano dalla gestione degli asset, proprietà delle navi, fino alla gestione tecnica e commerciale delle stesse. Dopo questa vendita, la flotta di Castor è composta da 10 navi con una capacità totale di 0,7 milioni di dwt, inclusa la M/V Gabriela A, attualmente sotto un accordo di vendita dal 4 dicembre 2024.
Inoltre, Castor detiene una partecipazione di maggioranza nell'asset manager quotato a Francoforte MPC Münchmeyer Petersen Capital AG, dimostrando la sua presenza ampliata nell'industria marittima oltre la semplice gestione delle navi.
Castor Maritime (NASDAQ: CTRM) ha completado la venta de su buque M/V Magic Callisto, un buque granelero Panamax construido en 2012, el 28 de abril de 2025. La entrega al nuevo propietario marca la ejecución de una transacción previamente anunciada.
La compañía mantiene un portafolio diverso como empresa global de transporte marítimo y energía, con operaciones que abarcan la gestión de activos, propiedad de buques y gestión técnica/comercial de los mismos. Tras esta venta, la flota de Castor consta ahora de 10 buques con una capacidad total de 0,7 millones de dwt, incluyendo el M/V Gabriela A, que está bajo un acuerdo de venta desde el 4 de diciembre de 2024.
Destaca que Castor posee una participación mayoritaria en el gestor de activos cotizado en Frankfurt MPC Münchmeyer Petersen Capital AG, demostrando su presencia ampliada en la industria marítima más allá de la operación de buques.
Castor Maritime (NASDAQ: CTRM)은 2025년 4월 28일에 2012년에 건조된 파나막스 벌크선 M/V Magic Callisto의 매각을 완료했습니다. 새 소유주에게 인도된 이번 거래는 이전에 발표된 계약의 실행을 의미합니다.
회사는 자산 관리, 선박 소유권, 기술 및 상업적 선박 관리를 아우르는 글로벌 해운 및 에너지 기업으로서 다양한 포트폴리오를 유지하고 있습니다. 이번 매각 이후 Castor의 선대는 총 0.7백만 dwt 용량의 10척으로 구성되며, 2024년 12월 4일 매매 계약이 체결된 M/V Gabriela A도 포함되어 있습니다.
특히 Castor는 프랑크푸르트 증시에 상장된 자산관리사 MPC Münchmeyer Petersen Capital AG의 대주주로서, 선박 운영을 넘어 해운 산업 내 입지를 확장하고 있음을 보여줍니다.
Castor Maritime (NASDAQ: CTRM) a finalisé la vente de son navire M/V Magic Callisto, un vraquier Panamax construit en 2012, le 28 avril 2025. La livraison au nouveau propriétaire marque l'exécution d'une transaction annoncée précédemment.
L'entreprise conserve un portefeuille diversifié en tant qu'acteur mondial du transport maritime et de l'énergie, avec des activités couvrant la gestion d'actifs, la propriété de navires ainsi que la gestion technique et commerciale des navires. Suite à cette vente, la flotte de Castor compte désormais 10 navires d'une capacité totale de 0,7 million de tpl, incluant le M/V Gabriela A, soumis à un accord de vente depuis le 4 décembre 2024.
Notamment, Castor détient une participation majoritaire dans le gestionnaire d'actifs coté à Francfort MPC Münchmeyer Petersen Capital AG, démontrant ainsi sa présence élargie dans l'industrie maritime au-delà de la simple exploitation des navires.
Castor Maritime (NASDAQ: CTRM) hat am 28. April 2025 den Verkauf seines Schiffs M/V Magic Callisto, einem 2012 gebauten Panamax-Bulkcarrier, abgeschlossen. Die Übergabe an den neuen Eigentümer markiert die Umsetzung einer zuvor angekündigten Transaktion.
Das Unternehmen verfügt über ein vielfältiges Portfolio als globales Schifffahrts- und Energieunternehmen mit Tätigkeiten in den Bereichen Asset-Management, Schiffsbesitz sowie technisches und kommerzielles Schiffsmanagement. Nach diesem Verkauf besteht die Flotte von Castor nun aus 10 Schiffen mit einer Gesamtkapazität von 0,7 Millionen dwt, darunter die M/V Gabriela A, die seit dem 4. Dezember 2024 unter einem Verkaufsvertrag steht.
Bemerkenswert ist, dass Castor eine Mehrheitsbeteiligung an dem in Frankfurt gelisteten Asset-Manager MPC Münchmeyer Petersen Capital AG hält, was seine erweiterte Präsenz in der Schifffahrtsbranche über den reinen Schiffsbetrieb hinaus unterstreicht.
- Diversified business model across shipping and energy sectors
- Maintains a substantial fleet of 10 vessels with 0.7 million dwt capacity
- Strategic position as majority shareholder in Frankfurt-listed asset manager MPC Münchmeyer Petersen Capital AG
- Fleet reduction through vessel sales (Magic Callisto and planned sale of Gabriela A)
- Exposure to volatile charter rates in dry bulk and containership markets
- Operational risks from geopolitical tensions (Red Sea conflicts affecting shipping routes)
- Potential impact from increasing operational costs (bunker prices, dry-docking, insurance)
Insights
Castor Maritime completes previously announced vessel sale, continuing fleet optimization strategy while maintaining a diversified business model across shipping and energy sectors.
Castor Maritime has completed the previously announced sale of the M/V Magic Callisto, a 2012-built Panamax bulk carrier, delivering it to its new owner on April 28, 2025. This transaction continues the company's fleet adjustment strategy, which also includes the pending sale of another vessel (M/V Gabriela A) agreed upon in December 2024.
Following this sale, Castor's fleet now stands at 10 vessels with an aggregate capacity of 0.7 million dwt. While the financial terms of the transaction weren't disclosed in the press release, vessel sales typically generate immediate liquidity and can improve operational efficiency by eliminating maintenance costs associated with older assets.
This transaction aligns with Castor's self-description as a "diversified global shipping and energy company" with activities spanning asset management, vessel ownership, technical and commercial ship management, and energy infrastructure projects. The company has expanded beyond traditional shipping operations, evidenced by its majority stake in Frankfurt-listed asset manager MPC Münchmeyer Petersen Capital AG.
For shipping companies with modest fleet sizes like Castor, each vessel represents a significant portion of overall capacity, making individual asset transactions particularly meaningful to operational capabilities and financial performance. This sale demonstrates the company's active approach to fleet management while executing on previously announced strategies.
LIMASSOL, Cyprus, April 29, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping and energy company, announces that on April 28, 2025, it completed the previously announced sale of the M/V Magic Callisto, a 2012-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 asset management, vessel ownership, technical and commercial ship management and energy infrastructure projects.
Castor owns a fleet of 10 vessels, with an aggregate capacity of 0.7 million dwt including the M/V Gabriela A that the Company agreed to sell on December 4, 2024. Castor is also the majority shareholder of the Frankfurt-listed 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
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