Castor Maritime Inc. Announces the Sale of the M/V Ariana A for a Price of $16.5 Million
Castor Maritime (NASDAQ: CTRM) has announced the sale of its containership vessel M/V Ariana A for $16.5 million. The 2005-built 2,700 TEU vessel is expected to be delivered to an unaffiliated third party during the first quarter of 2025. The company anticipates recording a net loss of approximately $3.3 million from this transaction. Castor Maritime's fleet currently consists of 13 vessels with a total capacity of 0.9 million dwt, including four Kamsarmax, five Panamax, one Ultramax dry bulk vessels, and three containerships (including M/V Ariana A).
Castor Maritime (NASDAQ: CTRM) ha annunciato la vendita della sua nave porta container M/V Ariana A per 16,5 milioni di dollari. La nave, costruita nel 2005 e con una capacità di 2.700 TEU, dovrebbe essere consegnata a una terza parte non affiliata durante il primo trimestre del 2025. L'azienda prevede di registrare una perdita netta di circa 3,3 milioni di dollari da questa transazione. Attualmente, la flotta di Castor Maritime è composta da 13 navi con una capacità totale di 0,9 milioni di dwt, tra cui quattro Kamsarmax, cinque Panamax, un'Ultramax per carichi secchi e tre navi porta container (inclusa M/V Ariana A).
Castor Maritime (NASDAQ: CTRM) ha anunciado la venta de su buque portacontenedores M/V Ariana A por 16,5 millones de dólares. El barco, construido en 2005 y con una capacidad de 2.700 TEU, se espera que sea entregado a un tercero no afiliado durante el primer trimestre de 2025. La empresa anticipa registrar una pérdida neta de aproximadamente 3,3 millones de dólares por esta transacción. La flota de Castor Maritime consiste actualmente en 13 buques con una capacidad total de 0,9 millones de dwt, que incluyen cuatro Kamsarmax, cinco Panamax, un Ultramax de carga seca y tres buques portacontenedores (incluyendo al M/V Ariana A).
캐스터 해운 (NASDAQ: CTRM)은 컨테이너선 M/V Ariana A를 1,650만 달러에 판매한다고 발표했습니다. 2005년에 건조된 2,700 TEU의 선박은 2025년 첫 분기 동안 관련 없는 제3자에게 인도될 예정입니다. 이 회사는 이 거래로 인해 약 330만 달러의 순손실을 기록할 것으로 예상하고 있습니다. 현재 캐스터 해운의 함대는 0.9백만 dwt의 총 용량을 가진 13척의 선박으로 구성되어 있으며, 여기에는 4척의 Kamsarmax, 5척의 Panamax, 1척의 Ultramax 건화물선 및 M/V Ariana A를 포함한 3척의 컨테이너선이 포함됩니다.
Castor Maritime (NASDAQ: CTRM) a annoncé la vente de son navire porte-conteneurs M/V Ariana A pour 16,5 millions de dollars. Le navire, construit en 2005 et d'une capacité de 2 700 EVP, devrait être livré à une partie non affiliée au cours du premier trimestre 2025. L'entreprise prévoit d'enregistrer une perte nette d'environ 3,3 millions de dollars de cette transaction. La flotte de Castor Maritime est actuellement composée de 13 navires, avec une capacité totale de 0,9 million de dwt, comprenant quatre Kamsarmax, cinq Panamax, un Ultramax pour cargaisons sèches et trois porte-conteneurs (y compris M/V Ariana A).
Castor Maritime (NASDAQ: CTRM) hat den Verkauf seines Containerschiffs M/V Ariana A für 16,5 Millionen Dollar bekannt gegeben. Das 2005 gebaute Schiff mit einer Kapazität von 2.700 TEU soll im ersten Quartal 2025 an einen unbeteiligten Dritten ausgeliefert werden. Das Unternehmen rechnet mit einem Nettoverlust von etwa 3,3 Millionen Dollar aus dieser Transaktion. Die Flotte von Castor Maritime besteht derzeit aus 13 Schiffen mit einer Gesamttonnage von 0,9 Millionen dwt, darunter vier Kamsarmax, fünf Panamax, ein Ultramax-Schüttgutschiff und drei Containerschiffe (einschließlich M/V Ariana A).
- Sale agreement secured for $16.5 million, providing immediate liquidity
- Expected net loss of $3.3 million from the vessel sale
- Reduction in fleet size and revenue-generating capacity
Insights
The sale of M/V Ariana A represents a significant transaction at
The transaction will impact the company's Q1 2025 financials and reduce the total fleet capacity from 0.9 million dwt. For a company with a market cap of only
LIMASSOL, Cyprus, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that on November 13, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement with an unaffiliated third party for the 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 an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.
Castor owns a fleet of 13 vessels, with an aggregate capacity of 0.9 million dwt, consisting of four Kamsarmax dry bulk vessels, five Panamax dry bulk vessels, one Ultramax dry bulk vessel, two 2,700 TEU containership vessels, including the M/V Ariana A, and one 1,850 TEU containership vessel.
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
What is the sale price of Castor Maritime's M/V Ariana A vessel (CTRM)?
When will the M/V Ariana A vessel sale by CTRM be completed?
How much loss will CTRM record from the M/V Ariana A sale?
How many vessels will CTRM own after selling M/V Ariana A?
