Cyprus-based bulker and boxship owner Castor Maritime has sold one of its bulkers for a price of $16.2m. Castor Maritime entered into an agreement to sell the 2010-built kamsarmax bulk carrier Magic Nebula to an entity beneficially owned by a family member of Petros Panagiotidis, the company’s chairman, CEO, and CFO. The company has already sold vessels to Panagiotidis’ family members this year. Castor Maritime sold the 2010-built panamaxes Magic Nova and Magic Horizon for $16.1m and $15.8m, respectively. It bought the vessels for a reported $13.86m and $12.75m in 2020. According to data available from Equasis, the Magic Horizon and Magic Nebula are already a part of Pavimar’s fleet of 20 bulkers. The company is a shipowning outfit controlled by Panagiotidis’ sister, Ismini Panayotides. Pavimar also recently bought Castor’s 2010-built kamsarmax Magic Venus. Another deal between the two companies was Castor’s acquisition of two containerships in late 2022. The terms of the latest transaction were negotiated and approved by a special committee of our disinterested and independent directors. The vessel is expected to be delivered to its new owner during the second quarter of 2024. The company expects to record a net gain of approximately $2.5m from the sale of the Magic Nebula during the second quarter of 2024, excluding any transaction-related costs. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsCyprus