Castor Maritime Inc., a diversified global shipping and energy company, announces that in March 2025, the Company entered into two separate agreements with entities beneficially owned by  a family member of our Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, and the M/V Magic Callisto, a 2012- built Panamax vessel, for a combined price of $28.0 million.

The terms of each transaction were negotiated and approved by a special committee of our disinterested and independent directors.

The vessels are expected to be delivered to their new owners during the remainder of the first half of 2025.

Castor Maritime press release