Cyprus-based bulker and boxship owner Castor Maritime has sold one of its kamsarmaxes while a deal to sell another ship that was announced in April has collapsed.
The Nasdaq-listed firm is shipping out its 2009-built Magic Argo during the fourth quarter for $15.75m.
The deal should bring in a net gain of approximately $3m, excluding transaction-related costs.
Meanwhile, Castor has seen the $13.95m sale of the 2005-built panamax Magic Moon terminated “following the buyer’s failure to take delivery of the vessel”.
The owner will retain the 76,600 dwt ship and not book a net gain of $5.3m in the third quarter but plans to seek appropriate compensation pursuant to the terms of the deal.
The Petros Panagiotidis-led company currently owns 20 vessels, of which 18 are bulkers, including the Magic Argo.
