Castor Maritime sells bulker after first sale fell through

Cyprus-based bulker and boxship owner Castor Maritime has sold its 2005-built, 76,600 dwt panamax bulk carrier Magic Moon. The vessel will be sold for $11.8 million.

The Magic Moon was built in 2005 and has a deadweight of 76,600 tons. And it is expected to be delivered to the new owner by the end of the fourth quarter of 2023.

It is worth noting that this is the second time this year that Castor Maritime has sold the Magic Moon. In April, the company sold the vessel for $13.95 million, with delivery in the third quarter. The sale of the vessel was terminated in late September when the buyer failed to take delivery of the vessel. By comparison, the second sale price was reduced by $2.15 million.

Castor Maritime also said that it has completed the sale of the 2008-built Panamax bulk carrier Magic Phoenix. The vessel has been delivered to a new owner for $14 million. The company expects to incur a net loss on the sale of the Magic Phoenix of approximately $2.6 million in the fourth quarter of 2023, excluding any transaction-related costs.

Yangzijiang Shipbuilding

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