Castor Maritime Inc. Announces the Completion of the Sale of the M/V Ariana A
Castor Maritime Inc. (NASDAQ: CTRM) has completed the sale of its containership vessel M/V Ariana A for $16.5 million on January 22, 2025. The 2005-built 2,700 TEU vessel's sale is expected to result in a net loss of approximately $3.3 million during the first quarter of 2025, excluding transaction costs.
The company, a diversified global shipping and energy company, maintains a fleet of 12 vessels with a total capacity of 0.8 million dwt, including the M/V Gabriela A which is under agreement for sale since December 4, 2024. Castor Maritime is also the majority shareholder of Frankfurt-listed MPC Münchmeyer Petersen Capital AG.
Castor Maritime Inc. (NASDAQ: CTRM) ha completato la vendita della sua nave portacontainer M/V Ariana A per 16,5 milioni di dollari il 22 gennaio 2025. Si prevede che la vendita della nave, costruita nel 2005 e con una capacità di 2.700 TEU, comporterà una perdita netta di circa 3,3 milioni di dollari nel primo trimestre del 2025, escluse le spese di transazione.
L'azienda, una compagnia di spedizioni ed energia globale e diversificata, mantiene una flotta di 12 navi con una capacità totale di 0,8 milioni di dwt, inclusa la M/V Gabriela A, che è in fase di vendita dal 4 dicembre 2024. Castor Maritime è anche il socio di maggioranza di MPC Münchmeyer Petersen Capital AG quotata a Francoforte.
Castor Maritime Inc. (NASDAQ: CTRM) ha completado la venta de su buque portacontenedores M/V Ariana A por 16,5 millones de dólares el 22 de enero de 2025. Se espera que la venta del buque, construido en 2005 y con una capacidad de 2.700 TEU, resulte en una pérdida neta de aproximadamente 3,3 millones de dólares durante el primer trimestre de 2025, excluyendo los costos de transacción.
La compañía, una empresa global diversificada de transporte marítimo y energía, mantiene una flota de 12 buques con una capacidad total de 0,8 millones de dwt, incluida la M/V Gabriela A, que tiene un acuerdo de venta desde el 4 de diciembre de 2024. Castor Maritime también es el accionista mayoritario de MPC Münchmeyer Petersen Capital AG, que se cotiza en Frankfurt.
캐스터 해양 주식회사 (NASDAQ: CTRM)는 2025년 1월 22일에 1650만 달러에 M/V 아리아나 A 컨테이너 선박을 판매 완료했습니다. 2005년에 건조된 2700 TEU 용량의 선박 판매로 인해 2025년 1분기에 약 330만 달러의 순손실이 발생할 것으로 예상됩니다, 거래 비용은 제외됩니다.
이 회사는 다양한 글로벌 해운 및 에너지 회사로, M/V 가브리엘라 A를 포함해 총 80만 dwt의 용량을 가진 12척의 선박을 보유하고 있습니다. M/V 가브리엘라 A는 2024년 12월 4일부터 판매 계약 중입니다. 캐스터 해양은 또한 프랑크푸르트에 상장된 MPC 뮌히메이어 페테르센 캐피탈 AG의 대주주입니다.
Castor Maritime Inc. (NASDAQ: CTRM) a finalisé la vente de son navire porte-conteneurs M/V Ariana A pour 16,5 millions de dollars le 22 janvier 2025. La vente du navire de 2.700 EVP, construit en 2005, devrait entraîner une perte nette d'environ 3,3 millions de dollars au cours du premier trimestre de 2025, hors frais de transaction.
La société, une entreprise maritime et énergétique mondiale diversifiée, possède une flotte de 12 navires d'une capacité totale de 0,8 million de dwt, y compris le M/V Gabriela A, qui est sous contrat de vente depuis le 4 décembre 2024. Castor Maritime est également l'actionnaire majoritaire de MPC Münchmeyer Petersen Capital AG, cotée à Francfort.
Castor Maritime Inc. (NASDAQ: CTRM) hat den Verkauf seines Containerschiffs M/V Ariana A am 22. Januar 2025 für 16,5 Millionen Dollar abgeschlossen. Der Verkauf des 2005 gebauten 2.700 TEU Schiffs wird voraussichtlich zu einem netto Verlust von ungefähr 3,3 Millionen Dollar im ersten Quartal 2025 führen, ohne Transaktionskosten.
Das Unternehmen, ein diversifiziertes globales Schifffahrts- und Energieunternehmen, verwaltet eine Flotte von 12 Schiffen mit einer Gesamtkapazität von 0,8 Millionen dwt, einschließlich der M/V Gabriela A, die seit dem 4. Dezember 2024 zum Verkauf steht. Castor Maritime ist auch der Mehrheitseigentümer der in Frankfurt börsennotierten MPC Münchmeyer Petersen Capital AG.
- Sale of M/V Ariana A generates $16.5 million in cash proceeds
- Expected net loss of $3.3 million from vessel sale in Q1 2025
- Reduction in fleet size and capacity
Insights
The sale of the M/V Ariana A, a 20-year-old containership, for
This transaction should be viewed in the broader context of CTRM's fleet optimization strategy. With the fleet reducing to 12 vessels (including the pending sale of M/V Gabriela A), CTRM is actively managing its exposure to different shipping segments. The 2,700 TEU vessel size represents an increasingly challenging segment in the containership market, as operators prefer larger, more efficient vessels for main routes.
The timing of this sale is particularly noteworthy as it coincides with the container shipping market's ongoing rate volatility. By divesting older tonnage now, CTRM is potentially protecting itself against further asset value deterioration while maintaining financial flexibility. The
Looking at the broader implications, this transaction reflects CTRM's evolution from a pure-play shipping company to a diversified maritime and energy entity, as evidenced by their majority stake in MPC Münchmeyer Petersen Capital AG. This strategic shift suggests a more sophisticated approach to asset management and risk diversification.
LIMASSOL, Cyprus, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping and energy company, announces that on January 22, 2025, it completed the previously announced sale of the M/V Ariana A, a 2005-built 2,700 TEU containership vessel, for a price of
The Company expects to record during the first quarter of 2025 a net loss of approximately
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 12 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. 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
How much did Castor Maritime (CTRM) sell the M/V Ariana A vessel for?
What is the expected loss from CTRM's sale of M/V Ariana A in Q1 2025?
How many vessels remain in CTRM's fleet after the M/V Ariana A sale?
When did CTRM complete the sale of M/V Ariana A?
