Castor Maritime confirms move towards capesize market exit

Cyprus-based bulk/container shipowner Castor Maritime has confirmed its exit from the capesize bulk carrier sector following the complete sale of the Magic Orion.

Castor Maritime has reportedly reached an agreement with an undisclosed buyer to sell the Magic Orion for a value of $17.4 million, which will net Castor approximately $2 million after transaction-related costs. The 180,200 deadweight tonne vessel, built by Imabari Shipbuilding in Japan and delivered in 2006, is scheduled to be sold by the end of the first quarter of 2024.

Castor Maritime has recently completed the sale of the 2009-built Kamsarmax bulk carrier “Magic Argo”, realizing a gain of approximately $3 million from the sale.

On a fully delivered basis, Castor Maritime has 13 bulk carriers: five Kamsarmax bulk carriers and eight Panamax bulk carriers, as well as two 2,700 TEU container vessels.

Yangzijiang Shipbuilding

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